LINK Volatility Analysis for Initial Claims, 30th May 2024

Data Analysis

The release

Released by the Department of Labor on 30 May 2024 at 8:30 AM EDT. Initial Jobless Claims rose to 221K for the week ending 25th May, from 216K in the week ending 18th May.

It arrived at the same moment as Gross Domestic Product Report 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 1.30x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 2.28x, 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 $18.20 when the figure came out. Fifteen minutes later it was 0.27% higher, and an hour later 0.33% higher. Its high-to-low range in the hour after was 0.99% of its price, against 0.99% 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 13 days before the Federal Reserve's 12 June rate decision. Its own ratio of 1.30x 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

18.63

17.82

24h Change

-0.81 (-4.55%)

24h High

19.21

24h Low

17.78

24h Volume

3.746M LINK

US Initial Jobless Claims

Department of Labor

30th May, 2024, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	18.19	18.21	18.18	18.20	0.05%	0.16%	1,881 LINK
During	18.20	18.28	18.19	18.27	0.38%	0.49%	5,667 LINK

5 Minutes
Before	18.20	18.21	18.18	18.20	0.00%	0.16%	4,617 LINK
During	18.20	18.28	18.16	18.18	-0.11%	0.66%	21,951 LINK

10 Minutes
Before	18.14	18.21	18.14	18.20	0.33%	0.38%	12,310 LINK
During	18.20	18.28	18.16	18.17	-0.17%	0.66%	53,045 LINK

15 Minutes
Before	18.13	18.21	18.11	18.20	0.38%	0.55%	15,861 LINK
During	18.20	18.28	18.15	18.25	0.27%	0.71%	68,365 LINK

30 Minutes
Before	18.08	18.21	18.06	18.20	0.66%	0.82%	63,375 LINK
During	18.20	18.30	18.15	18.25	0.27%	0.82%	103,133 LINK

1 Hour
Before	18.24	18.24	18.06	18.20	-0.22%	0.99%	132,944 LINK
During	18.20	18.33	18.15	18.26	0.33%	0.98%	150,626 LINK

2 Hours
Before	18.23	18.33	18.06	18.20	-0.16%	1.47%	234,462 LINK
During	18.20	18.49	18.14	18.35	0.82%	1.89%	337,232 LINK

4 Hours
Before	18.25	18.33	18.06	18.20	-0.27%	1.47%	463,153 LINK
During	18.20	18.49	18.07	18.23	0.16%	2.27%	741,805 LINK

6 Hours
Before	18.51	18.53	18.06	18.20	-1.70%	2.54%	1.133M LINK
During	18.20	18.49	18.07	18.26	0.33%	2.27%	991,658 LINK

8 Hours
Before	18.63	19.21	18.12	18.25	-2.08%	5.67%	1.649M LINK
During	18.25	18.49	18.06	18.23	-0.11%	2.33%	1.205M LINK

12 Hours
Before	18.63	19.21	18.06	18.20	-2.36%	5.99%	2.112M LINK
During	18.20	18.49	17.78	17.82	-2.13%	3.84%	1.634M LINK