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  • Market reacts to the BLS revision number which hasn't been published yet

If true, doesn't it just prove that these numbers are meaningless? The market did something "because of the number*, and had no clue what the number was...because it didn't exist.

I don't know if the zero hedge tweet is true, but it would be quite funny.
Quoting ffghost
If true, doesn't it just prove that these numbers are meaningless? The market did something "because of the number*, and had no clue what the number was...because it didn't exist. I don't know if the zero hedge tweet is true, but it would be quite funny.
It's right the data still hasn't dropped yet.
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The solution is (x).
...based on the up (and then down) move in the equities markets (s&p and Nasdaq), it sure was an interesting 15 minutes though...
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Labor Bureau reporting " issues"... this 306K is an old number. New number will be bigger
Quoting Momofrmnyc
{quote} It's right the data still hasn't dropped yet. {image}
Haha. Classic. Where are all the "market manipulation!!!!" screamers on this info?? /Nq just popped/dropped/recovered 70 pts in 20 minutes. That's a pretty hefty move for no data
Quoting ffghost
{quote} Haha. Classic. Where are all the "market manipulation!!!!" screamers on this info?? /Nq just popped/dropped/recovered 70 pts in 20 minutes. That's a pretty hefty move for no data
Definitely big moves on both sides. Got to love it right.
The solution is (x).
this is why i don't use to much leverage and put no more SL....
"Waiting on non-farm payrolls benchmark revisions but a separate report sheds some light
A hint on revisions in a different report?

Adam Button
Wednesday, 21/08/2024 | 07:22 GMT-7
0
The US BLS was scheduled to publish benchmark revisions to non-farm payrolls at 10 am ET here: https://www.bls.gov/web/empsit/cesprelbmk.htm

That hasn't updated but we're watching closely. It's rare to have a hiccup in the release schedule so it's not clear what's going on.

However a separate report that covers the same timeline was released -- the Country Employment and Wages report. It showed 153.6 million employed and a 1.3% rise year-over-year. That would be 1.97 million jobs, which is short of the 2.9 million reported by the BLS in the year ending in March.

What's tough to square is that it also highlights 153.6 million employed, which is only slightly lower than the 153,757,000 reported in the March non-farm payrolls report.

More confusing yet, economist Christophe Barraud (who is usually bang on) also highlights the Country Employment and Wages report, which includes the Quarterly Census of Employment and Wages -- which is what the benchmark revisions are based on.

He calculates 450K job losses, which would be something close but perhaps slightly higher than the consensus.

What's jarring is that there was a pretty big move at 10 am in USD/JPY, so there are certainly people trying to trade this headline."
Quoting chaoshydra
this is why i don't use to much leverage and put no more SL....
Sound advice for any reader....I live with you in the second part .....now if only I could adjust behavior on the first
Quoting Manudatinh
"Waiting on non-farm payrolls benchmark revisions but a separate report sheds some light A hint on revisions in a different report? Adam Button Wednesday, 21/08/2024 | 07:22 GMT-7 0 The US BLS was scheduled to publish benchmark revisions to non-farm payrolls at 10 am ET here: https://www.bls.gov/web/empsit/cesprelbmk.htm That hasn't updated but we're watching closely. It's rare to have a hiccup in the release schedule so it's not clear what's going on. However a separate report that covers the same timeline was released -- the Country...
Undoubtedly people trying to trade it.

The question is whether the big hands have already been played or if there is much much more insanity to come.
Next news release: and AI failure was responsible for the delay in data releases this morning........and the Nasdaq falls 4% (oh, markets PLEASE don't trade on my joke...I can't take another one of those 6.8%% down nq days in August)
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US Labor Department: Preliminary estimate of Nonfarm Payrolls benchmark revision would cut March 2024 level of employment by 818,000 or 0.5%.
Haha, I take it the data was finally released?
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Quoting chaoshydra
this is why i don't use to much leverage and put no more SL....
What do you mean by “put no more SL”? Does it mean that you dont put SL?
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