Quote:
Originally Posted by cmellon
I was checking my database, I found the two largest moves are:
09/23/2000:
High = 0.89920
Low = 0.85760
Range = 416 pips
Close = 0.8609
Interestingly, this is on Friday, just like today. Let's look what happens on the next Monday
09/26/2000:
High = 0.88250
Low = 0.87140
Range = 111 pips
Open = 0.8782
The open on Monday gaps by more than 100 pips higher !!
Second largest move is on
02/29/2000
High = 0.9746
Low = 0.939
Range = 356 pips
Close = 9744
Strangely, this also happens on Friday. Seems like there's something with black Friday. Is today a black Friday? Let's look at the next Monday
03/01/2000
High = 9900
Low = 9627
Range = 273 pips
Open = 9708
Close = 9712
So in this case, next Monday price gaps a few pips lower, but the high range on the next day is almost 200 pips higher (though it closes back to 9712).
|
If I were a corporate treasurer and had some hedging responsibilities, I would certainly jump in buying Euros first thing Monday. It would be difficult to criticize me even if I were premature.
