The Phaserl


When Headline Scanning Algos Get Crushed By A Wrong Bloomberg Headline

from ZeroHedge:

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…

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