Data Analysis
Measured by Clometrix
Chainlink's volatility ratio was 1.89x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 1.42x, against a typical 1.63x. That is a strong reaction by this release's own standard. 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 $12.36 when the figure came out. Fifteen minutes later it was 0.49% lower, and an hour later 0.65% lower. Its high-to-low range in the hour after was 1.46% of its price, against 0.97% in the hour before.
The release
Released by the Department of Labor on 26 September 2024 at 8:30 AM EDT. Initial Jobless Claims fell to 221K for the week ending 21st Sep, from 222K in the week ending 14th Sep.
It arrived at the same moment as Durable Goods Orders, Durable Goods Orders Excluding Transportation, Gross Domestic Product Report 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 1.89x 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
12.07Close
12.5524h Change
0.48 (3.82%)24h High
12.7524h Low
11.8724h Volume
3.109M LINKUS Initial Jobless Claims
Department of Labor
26th September, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 12.36 | 12.37 | 12.35 | 12.37 | 0.08% | 0.16% | 200 LINK |
| During | 12.36 | 12.37 | 12.34 | 12.36 | 0.00% | 0.24% | 2,212 LINK |
| 5 Minutes | |||||||
| Before | 12.34 | 12.37 | 12.34 | 12.37 | 0.24% | 0.24% | 8,770 LINK |
| During | 12.36 | 12.40 | 12.28 | 12.29 | -0.57% | 0.97% | 15,818 LINK |
| 10 Minutes | |||||||
| Before | 12.36 | 12.37 | 12.32 | 12.37 | 0.08% | 0.40% | 22,057 LINK |
| During | 12.36 | 12.40 | 12.27 | 12.27 | -0.73% | 1.05% | 30,445 LINK |
| 15 Minutes | |||||||
| Before | 12.33 | 12.37 | 12.30 | 12.37 | 0.32% | 0.57% | 30,113 LINK |
| During | 12.36 | 12.40 | 12.27 | 12.30 | -0.49% | 1.05% | 37,162 LINK |
| 30 Minutes | |||||||
| Before | 12.30 | 12.37 | 12.25 | 12.37 | 0.57% | 0.97% | 60,040 LINK |
| During | 12.36 | 12.40 | 12.24 | 12.25 | -0.90% | 1.29% | 73,259 LINK |
| 1 Hour | |||||||
| Before | 12.28 | 12.37 | 12.25 | 12.37 | 0.73% | 0.97% | 84,577 LINK |
| During | 12.36 | 12.40 | 12.22 | 12.28 | -0.65% | 1.45% | 137,895 LINK |
| 2 Hours | |||||||
| Before | 12.32 | 12.37 | 12.25 | 12.37 | 0.40% | 0.97% | 175,244 LINK |
| During | 12.36 | 12.51 | 12.20 | 12.46 | 0.80% | 2.48% | 489,611 LINK |
| 4 Hours | |||||||
| Before | 12.19 | 12.37 | 12.12 | 12.37 | 1.46% | 2.02% | 359,647 LINK |
| During | 12.36 | 12.74 | 12.20 | 12.72 | 2.83% | 4.24% | 1.058M LINK |
| 6 Hours | |||||||
| Before | 12.17 | 12.37 | 12.12 | 12.37 | 1.62% | 2.02% | 563,714 LINK |
| During | 12.36 | 12.75 | 12.20 | 12.54 | 1.44% | 4.31% | 1.322M LINK |
| 8 Hours | |||||||
| Before | 12.07 | 12.28 | 11.87 | 12.19 | 0.98% | 3.34% | 854,695 LINK |
| During | 12.19 | 12.74 | 12.12 | 12.72 | 4.17% | 4.87% | 1.418M LINK |
| 12 Hours | |||||||
| Before | 12.07 | 12.37 | 11.87 | 12.37 | 2.43% | 4.04% | 1.214M LINK |
| During | 12.36 | 12.75 | 12.20 | 12.55 | 1.51% | 4.31% | 1.895M LINK |
