@babypips , the data you released on calendar on non-farm payrolls is misleading and incorrect from this friday, please check and rectify
Not sure what you are referring to but when I checked the actual released number looks correct but it seems like depending on what source you get the expected estimate prior that one may have been wrong.
From Bloomberg
Downward US Payroll Revisions Add to Soft Labor Market Picture
- US adds 142,000 jobs, falling short of forecasts
- Unemployment rate edges lower; July payrolls revised down
- Report to fuel debate over how much Fed will cut rates
- Treasury yields drop; dollar hits session lows
From the official government BLS report
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate
changed little at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains
occurred in construction and health care.
From BabyPips Calendar
- 22:00
USD
Nonfarm PayrollsView Details
| IMPACT | ACTUAL | FORECAST | PREVIOUS |
|---|---|---|---|
| HIGH | 142.0k | 120.0k | 89.0k |
Apparently estimates should have been different according to this from Bloomberg
- Nonfarm payrolls rose by 142,000, which marked an acceleration from July but was notably less than the 165,000 median forecast in Bloomberg’s survey. – and there was a cumulative 86,000 reduction in payroll increases for the prior two months.
Thanks, @BAD14214 BAD14214, you are right about estimates being wrong number here which flipped the picture to positive though the picture was negative. I had a long position which I did not cut seeing this and then when i cut i understood what was wrong with this data, the babypips data was misleading
Thanks for the comments @OyeMaverick and we’re really sorry the calendar data created issues with your trade.
Some background on the calendar data. We don’t prepare the data, but instead utilize a 3rd party financial data provider called Trading Economics who collects the data from external sources and also creates data using its own in-house team of economists, covering currencies, stocks, bonds, bonds, and crypto markets.
As for the data you’re inquiring about, again, this is data provided by the 3rd party. And by all accounts, it’s correct and was correct at the time of the release, based on this one source.
For the information in question, the forecast data, there’s an important thing to understand. Forecast data is some combination of poll/survey data taken from various market participants, which might include 100s and 1000s of economists, business owners, market analysts, and sentiment analysts or even individual organizations like Bloomberg, who have their own network of about 100 economists who they survey to come up with a forecast. Bloomberg’s forecast might be different than another sources, as was the case here with our calendar data provided by Trading Economics.
Here is more information from our data provider:
I hope that helps explain the difference in reported forecast data, depending on where you’re looking.
Let me know if you have any other questions or thoughts.
Pipstradamus