Daily Cut-Off
a.k.a. Daily close, New York close, Rollover time
The time each day when the forex trading day officially ends, usually 5 p.m.
In plain English
The time each day when the forex trading day officially ends, usually 5 p.m. New York time, and overnight interest is applied.
Forex never sleeps, but it still needs a line in the sand. The daily cut-off, most commonly 5 p.m. New York time, marks the end of one trading day and the start of the next. Daily candles close here.
It is also when rollover happens: positions held through the cut-off get charged or paid overnight interest (swap). Spreads often widen for a few minutes around it, as liquidity thins.
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