ADA Volatility Analysis for Continued Claims, 15th September 2022

Data Analysis

The release

Released by the Department of Labor on 15 September 2022 at 8:30 AM EDT. Continued Jobless Claims rose to 1402K for the week ending 3rd Sep, from 1397K in the week ending 27th Aug.

It arrived at the same moment as Retail Sales, Retail Sales Excluding Automobiles, Import Price Index, Export Price Index and Initial Jobless Claims, so the reaction measured on this page belongs to all of them together.

How Cardano moved

Cardano was at $0.4740 when the figure came out. Fifteen minutes later it was 0.34% higher, and an hour later unchanged. Its high-to-low range in the hour after was 0.97% of its price, against 0.78% in the hour before.

Measured by Clometrix

Cardano's volatility ratio was 1.74x, against 1.35x for a typical Continued Claims release since 2021. Its volume ratio was 3.26x, against a typical 1.63x. That is about what this release usually does. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.

What made it matter

Since 2021, Continued Claims releases in the two weeks before a Fed decision have moved Cardano about as much as those at other times: a median volatility ratio of 1.33x across 93, against 1.36x across 206. This one came out 6 days before the Federal Reserve's 21 September rate decision. Its own ratio of 1.74x compares with 1.33x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 299 Continued Claims releases since 2021, Cardano's median volatility ratio is 1.35x.

About Continued Jobless Claims

The weekly claims report is released Thursdays at 8:30 a.m. ET by the U.S. Department of Labor (DOL). Continued claims, also referred to as insured unemployment, is the number of people who have already filed an initial claim and who have experienced a week of unemployment and then filed a continued claim to claim benefits for that week of unemployment. Continued claims data are based on the week of unemployment, not the week when the initial claim was filed.