NFP: More Noise Than Signal?
It always strikes me how much airtime NFP gets, particularly given the revised figures that often follow. We see these huge swings – the $US30 jumps or dips based on the initial print, then settles. I'm looking at $RBLX today, down 26.85% for much more substantial reasons than a headline number that might get walked back next month. Are we collectively over-indexing on these 'major' economic releases? It feels like sometimes the market just needs an excuse to move, and these indicators are handy for that purpose. I'm keen to hear what others think; am I missing something crucial in this dynamic?
That's a really interesting point about NFP's impact vs. the revisions. Do you think the market ever truly discounts the initial print, or are we just caught in that immediate reaction loop?