LINK Volatility Analysis for Initial Claims, 2nd November 2023

Data Analysis

The release

Released by the Department of Labor on 2 November 2023 at 8:30 AM EDT. Initial Jobless Claims rose to 217K for the week ending 28th Oct, from 214K in the week ending 21st Oct.

It arrived at the same moment as Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.

Measured by Clometrix

Chainlink's volatility ratio was 1.24x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 1.53x, 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 $11.29 when the figure came out. Fifteen minutes later it was 0.71% higher, and an hour later 0.62% lower. Its high-to-low range in the hour after was 2.75% of its price, against 0.97% 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 the day after the Federal Reserve's 1 November rate decision. Its own ratio of 1.24x compares with 1.38x 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

11.56

10.86

24h Change

-0.70 (-6.45%)

24h High

11.75

24h Low

10.81

24h Volume

7.89M LINK

US Initial Jobless Claims

Department of Labor

2nd November, 2023, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	11.31	11.31	11.28	11.29	-0.18%	0.27%	15,139 LINK
During	11.29	11.32	11.29	11.31	0.18%	0.27%	8,563 LINK

5 Minutes
Before	11.32	11.34	11.28	11.29	-0.27%	0.53%	30,033 LINK
During	11.29	11.38	11.29	11.37	0.70%	0.79%	31,056 LINK

10 Minutes
Before	11.32	11.34	11.28	11.29	-0.27%	0.53%	61,843 LINK
During	11.29	11.39	11.29	11.37	0.70%	0.88%	66,078 LINK

15 Minutes
Before	11.32	11.34	11.28	11.29	-0.27%	0.53%	74,158 LINK
During	11.29	11.39	11.29	11.37	0.70%	0.88%	107,090 LINK

30 Minutes
Before	11.30	11.34	11.26	11.29	-0.09%	0.71%	169,444 LINK
During	11.29	11.46	11.29	11.33	0.35%	1.48%	237,060 LINK

1 Hour
Before	11.24	11.34	11.23	11.29	0.44%	0.97%	271,996 LINK
During	11.29	11.46	11.15	11.22	-0.62%	2.71%	557,470 LINK

2 Hours
Before	11.27	11.34	11.18	11.29	0.18%	1.41%	529,741 LINK
During	11.29	11.46	11.08	11.11	-1.62%	3.32%	1.078M LINK

4 Hours
Before	11.17	11.34	11.14	11.29	1.06%	1.76%	1.169M LINK
During	11.29	11.46	10.85	10.88	-3.77%	5.32%	2.205M LINK

6 Hours
Before	11.29	11.34	11.05	11.29	0.00%	2.56%	1.836M LINK
During	11.29	11.46	10.81	11.06	-2.08%	5.67%	2.779M LINK

8 Hours
Before	11.56	11.75	11.05	11.17	-3.49%	5.96%	2.96M LINK
During	11.17	11.46	10.85	10.88	-2.67%	5.32%	3.374M LINK

12 Hours
Before	11.56	11.75	11.05	11.29	-2.39%	5.96%	4.129M LINK
During	11.29	11.46	10.81	10.86	-3.96%	5.67%	3.761M LINK