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Financial Market Conspiracy?

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posted on May, 8 2004 @ 06:18 AM
Last month, right before the March unemployment figures were released, the dollar shot up, leading many to believe the figures were leaked before being officially released.

Well, I was trading yesterday morning, awaiting the US April unemployment figures and right before the announcement, the US dollar took a big dive and then shot right back up when the good unemployment data was released.

The initial spike up in the image means the value of the Euro went up against the dollar. The spike down shows USD gaining value

It really had me puzzled for a while. I wasn't sure why the dollar value would spike down.
The payrolls number turned out to be much better than expected, resulting in a spike up in the value of the dollar.
I remembered last months leak and I'm wondering, maybe they found out who leaked the numbers last month and gave them bad data?

Do you think the government would intentionally leak bad data and then analyze trades for that day in order to find out who was trading on that data?

Forex Chart

posted on May, 22 2004 @ 12:59 PM
Hi I am a currency trader as well. Well there could be a few explanations for this action:

a) the correct data was leaked again and the beneficiaries of that information sold the dollar beforehand to run the stops of the amateurs who leave buy/sell stops above and below the current price to get their long dollar orders filled nicely and then profit when the data was released publicly,

b) (most likely scenario)just some fools trying to front run the data and guessed the direction incorrectly. Remember when the market is very thin (as it is prior to the major data release) it doesnt take much at all to move the market.

Prior to this data was released prematurely on the internet before the official release time and I don't think it was leaked early intentionally just a stuff up.


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