(no, this is not a sponsored post for FX Street.com about non-farm payrolls).

“Nonfarm payrolls are a summation of jobs available within the nonfarm payrolls classification as designated by the Bureau of Labor Statistics. The nonfarm payroll classification excludes farmworkers as well as some government workers, private households, proprietors, and non-profit employees.”  (thanks Investopedia).

Look, I LOVE FXSTREET, I’ve used their app and economic calendar for literally years, I enjoy their writing.

But today they are winners of dumpling of the day, in the above report, Yohay Elam, who I have to say is a great writer claims this morning:-

EUR/USD Forecast: Falling ahead of the fireworks? Coronavirus concerns may outweigh Non-Farm Payrolls

the thing is, a quick view of their economic calendar shows that the US sneaked in the report YESTERDAY. So this article boldly claims to give an economic forecast for EURUSD based on something he thinks is happening at 13:30 today – but was snuck in with a load of other data yesterday

If he’d have flipped to his economic calendar (It’s at the top Yohay!).

He’d have seen that NFP was announced yesterday!

What went wrong?

Basically, for as long as I can remember, non-farm payrolls was announced on the first Friday of every month. Everyone sat still and waited and then the markets rocked around a bit unless the price was as expected (that’s called being priced in)

Scalpers would make or (more normally lose) half their accounts if not all of it.

This has led to mass market confusion and I wonder if there will be a move at 13:30 when people realise the news was announced yesterday.

It wasn’t only Yohay who is confused …

Omkar Godbole’s report correctly identified the descending triangle but missed the actual day… it’s not the 3rd Omkar, it’s the 2nd, that’s a Thursday.

“EUR/USD has carved out a descending triangle pattern on the 4-hour chart ahead of the all-important US Nonfarm Payrolls report, scheduled for release at 12:30 GMT on Friday. “

EURUSD is bearish at the moment with what looks like a double top, it’s just not going anywhere.

I think today will be very interesting as the major players, maybe even hedge funds wake up to having missed the boat as NFP was yesterday.

Do check out FXStreet and I hope they don’t take this badly.