Data Analysis
The release
Released by the Department of Labor on 12 September 2024 at 8:30 AM EDT. Initial Jobless Claims rose to 230K for the week ending 7th Sep, from 228K in the week ending 31st Aug.
It arrived at the same moment as Producer Price Index, Core Producer Price Index and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
Measured by Clometrix
Chainlink's volatility ratio was 1.43x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 2.39x, against a typical 1.63x. Under 1.5x is not a reaction at all: the market barely noticed this release. 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.
How Chainlink moved
Chainlink was at $10.60 when the figure came out. Fifteen minutes later it was 0.38% lower, and an hour later 0.19% higher. Its high-to-low range in the hour after was 0.85% of its price, against 0.85% in the hour before.
What made it matter
Since 2021, Initial Claims releases in the two weeks before a Fed decision have moved Chainlink about as much as those at other times: a median volatility ratio of 1.45x across 93, against 1.38x across 208. This one came out 6 days before the Federal Reserve's 18 September rate decision. Its own ratio of 1.43x compares with 1.45x for those, about what its circumstances would suggest.
About Initial Jobless Claims
The weekly claims report is released Thursdays at 8:30 a.m. ET by the U.S. Department of Labor (DOL). Initial claims are new jobless claims filed by U.S. workers seeking unemployment compensation, included in the unemployment insurance weekly claims report. The report, published since 1967, includes a separate count of workers receiving unemployment insurance benefits, known as continuing claims.
Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.
LINK-USDT
Chainlink
Open
10.44Close
10.7824h Change
0.34 (3.15%)24h High
10.8324h Low
10.4224h Volume
1.477M LINKUS Initial Jobless Claims
Department of Labor
12th September, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 10.59 | 10.61 | 10.59 | 10.61 | 0.19% | 0.19% | 2,557 LINK |
| During | 10.60 | 10.61 | 10.58 | 10.60 | 0.00% | 0.28% | 5,283 LINK |
| 5 Minutes | |||||||
| Before | 10.58 | 10.61 | 10.57 | 10.61 | 0.28% | 0.38% | 6,091 LINK |
| During | 10.60 | 10.61 | 10.55 | 10.56 | -0.38% | 0.57% | 8,148 LINK |
| 10 Minutes | |||||||
| Before | 10.61 | 10.61 | 10.57 | 10.61 | 0.00% | 0.38% | 17,079 LINK |
| During | 10.60 | 10.61 | 10.54 | 10.55 | -0.47% | 0.66% | 19,291 LINK |
| 15 Minutes | |||||||
| Before | 10.60 | 10.62 | 10.57 | 10.61 | 0.09% | 0.47% | 19,950 LINK |
| During | 10.60 | 10.61 | 10.54 | 10.56 | -0.38% | 0.66% | 27,424 LINK |
| 30 Minutes | |||||||
| Before | 10.64 | 10.66 | 10.57 | 10.61 | -0.28% | 0.84% | 49,066 LINK |
| During | 10.60 | 10.61 | 10.54 | 10.57 | -0.28% | 0.66% | 51,187 LINK |
| 1 Hour | |||||||
| Before | 10.64 | 10.66 | 10.57 | 10.61 | -0.28% | 0.84% | 76,072 LINK |
| During | 10.60 | 10.63 | 10.54 | 10.62 | 0.19% | 0.85% | 69,576 LINK |
| 2 Hours | |||||||
| Before | 10.58 | 10.66 | 10.57 | 10.61 | 0.28% | 0.84% | 122,707 LINK |
| During | 10.60 | 10.72 | 10.54 | 10.66 | 0.56% | 1.68% | 151,975 LINK |
| 4 Hours | |||||||
| Before | 10.60 | 10.66 | 10.56 | 10.61 | 0.09% | 0.94% | 209,924 LINK |
| During | 10.60 | 10.72 | 10.53 | 10.61 | 0.09% | 1.77% | 362,921 LINK |
| 6 Hours | |||||||
| Before | 10.54 | 10.66 | 10.52 | 10.61 | 0.66% | 1.31% | 285,834 LINK |
| During | 10.60 | 10.76 | 10.53 | 10.76 | 1.49% | 2.14% | 494,969 LINK |
| 8 Hours | |||||||
| Before | 10.44 | 10.62 | 10.42 | 10.61 | 1.60% | 1.88% | 411,899 LINK |
| During | 10.60 | 10.72 | 10.53 | 10.61 | 0.09% | 1.77% | 572,845 LINK |
| 12 Hours | |||||||
| Before | 10.44 | 10.66 | 10.42 | 10.61 | 1.60% | 2.25% | 621,823 LINK |
| During | 10.60 | 10.83 | 10.53 | 10.78 | 1.67% | 2.77% | 855,176 LINK |
