The employment figures look like a good thing -- hey that sounds half hearted, they are a good thing -- but the potential leak before trading closed is a problem.
The temptation to give even a "nod and a wink" is very strong and the amount of money that can be made is mindnumbing. Years ago there was a similar leak in the USA and it turned out that a specific trader, I think in Germany, made over a hundred million dollars in a day.
Of course, here is may have not been a leak but simply an efficient market -- and if that's the answer then all the better. Good employment news and an efficient market -- what's not to like?
Spike in Loonie trading sparks StatsCan leak rumour
StatsCan was probing rumours that optimistic employment figures may have leaked before their official release on Friday, prompting a surge in the Canadian dollar during early morning trading.
The data, which reported that 35,900 new jobs were created in April, surprised most analysts and broke a six-month employment slump where the economy shed hundreds of thousands of jobs.
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