When Headline Scanning Algos Get Crushed By A Wrong Bloomberg Headline

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...

 

 

When Bloomberg reissued: "CORRECT: WHOLE MILK POWDER PRICES RISE 3.4% IN GDT AUCTION" Kiwi surged higher. These are your efficient markets...

 

 

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

 

*  *  *

Welcome to the new efficient liquidity-providing markets...