At 1033ET, Bloomberg headlines flashed: "WHOLE MILK POWDER PRICES FALL 11.5% IN GDT AUCTION" which caused an instant collapse in Kiwi (NZDUSD) as headline-reading algos reacted. However, as "humans" knew and @FXMacro reminded Bloomberg, that was last month's drop...
BB is reporting last months fall
— FxMacro (@fxmacro) August 19, 2014 [3]
When Bloomberg reissued: "CORRECT: WHOLE MILK POWDER PRICES RISE 3.4% IN GDT AUCTION" Kiwi surged higher. These are your efficient markets...
[4]
1033ET Bloomberg: WHOLE MILK POWDER PRICES FALL 11.5% IN GDT AUCTION
1035ET @FXMacro warns BB has it wrong be careful
1036ET @FXMacro warns BB is reporting last month's fall
1038ET Bloomberg: CORRECT: WHOLE MILK POWDER PRICES RISE 3.4% IN GDT AUCTION
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Welcome to the new efficient liquidity-providing markets...
