Data Analysis
Measured by Clometrix
Chainlink's volatility ratio was 2.99x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 3.45x, against a typical 1.63x. That is more than twice 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.
How Chainlink moved
Chainlink was at $15.58 when the figure came out. Fifteen minutes later it was 1.54% lower, and an hour later 1.93% lower. Its high-to-low range in the hour after was 2.25% of its price, against 2.12% in the hour before.
The release
Released by the Department of Labor on 11 January 2024 at 8:30 AM EST. Initial Jobless Claims fell to 199K for the week ending 6th Jan, from 200K in the week ending 30th Dec.
It arrived at the same moment as Consumer Price Index, Core Consumer Price Index, Core Inflation Rate and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
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 was not within two weeks of a Fed decision. Its own ratio of 2.99x compares with 1.38x for those, so it moved the price more than its circumstances alone would suggest.
Its record
Across 301 Initial Claims releases since 2021, Chainlink's median volatility ratio is 1.43x.
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
14.99Close
14.7824h Change
-0.21 (-1.42%)24h High
15.7024h Low
14.6024h Volume
5.769M LINKUS Initial Jobless Claims
Department of Labor
11th January, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 15.59 | 15.60 | 15.56 | 15.58 | -0.06% | 0.26% | 5,503 LINK |
| During | 15.58 | 15.60 | 15.52 | 15.53 | -0.32% | 0.51% | 12,627 LINK |
| 5 Minutes | |||||||
| Before | 15.67 | 15.70 | 15.56 | 15.58 | -0.58% | 0.89% | 27,575 LINK |
| During | 15.58 | 15.60 | 15.29 | 15.42 | -1.04% | 1.99% | 97,792 LINK |
| 10 Minutes | |||||||
| Before | 15.59 | 15.70 | 15.56 | 15.58 | -0.06% | 0.89% | 55,790 LINK |
| During | 15.58 | 15.60 | 15.29 | 15.39 | -1.23% | 1.99% | 125,952 LINK |
| 15 Minutes | |||||||
| Before | 15.53 | 15.70 | 15.53 | 15.58 | 0.32% | 1.08% | 82,764 LINK |
| During | 15.58 | 15.60 | 15.29 | 15.34 | -1.56% | 1.99% | 154,997 LINK |
| 30 Minutes | |||||||
| Before | 15.53 | 15.70 | 15.45 | 15.58 | 0.32% | 1.59% | 193,833 LINK |
| During | 15.58 | 15.60 | 15.29 | 15.39 | -1.23% | 1.99% | 218,463 LINK |
| 1 Hour | |||||||
| Before | 15.43 | 15.70 | 15.37 | 15.58 | 0.96% | 2.10% | 391,781 LINK |
| During | 15.58 | 15.60 | 15.25 | 15.28 | -1.96% | 2.24% | 461,521 LINK |
| 2 Hours | |||||||
| Before | 15.24 | 15.70 | 15.15 | 15.58 | 2.18% | 3.50% | 735,936 LINK |
| During | 15.58 | 15.65 | 15.18 | 15.27 | -2.03% | 3.00% | 1.074M LINK |
| 4 Hours | |||||||
| Before | 15.08 | 15.70 | 15.02 | 15.58 | 3.21% | 4.33% | 1.281M LINK |
| During | 15.58 | 15.65 | 14.69 | 14.91 | -4.49% | 6.13% | 1.955M LINK |
| 6 Hours | |||||||
| Before | 14.85 | 15.70 | 14.75 | 15.58 | 4.69% | 6.05% | 1.611M LINK |
| During | 15.58 | 15.65 | 14.69 | 15.00 | -3.87% | 6.13% | 2.218M LINK |
| 8 Hours | |||||||
| Before | 14.99 | 15.08 | 14.60 | 15.08 | 0.60% | 3.18% | 1.316M LINK |
| During | 15.08 | 15.70 | 14.69 | 14.91 | -1.14% | 6.43% | 3.236M LINK |
| 12 Hours | |||||||
| Before | 14.99 | 15.70 | 14.60 | 15.58 | 3.79% | 7.01% | 2.596M LINK |
| During | 15.58 | 15.65 | 14.69 | 14.78 | -5.41% | 6.13% | 3.173M LINK |
