Data Analysis
Measured by Clometrix
Chainlink's volatility ratio was 1.93x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 1.73x, 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 $21.83 when the figure came out. Fifteen minutes later it was 1.19% lower, and an hour later 3.02% lower. Its high-to-low range in the hour after was 3.48% of its price, against 3.07% in the hour before.
The release
Released by the Department of Labor on 14 March 2024 at 8:30 AM EDT. Initial Jobless Claims rose to 213K for the week ending 9th Mar, from 212K in the week ending 2nd Mar.
It arrived at the same moment as Retail Sales, Retail Sales Excluding Automobiles, Producer Price Index, Core Producer Price Index 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 came out 6 days before the Federal Reserve's 20 March rate decision. Its own ratio of 1.93x compares with 1.45x 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
20.74Close
20.9424h Change
0.20 (0.96%)24h High
21.9524h Low
19.8724h Volume
13.102M LINKUS Initial Jobless Claims
Department of Labor
14th March, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 21.91 | 21.91 | 21.80 | 21.83 | -0.37% | 0.50% | 14,349 LINK |
| During | 21.83 | 21.89 | 21.80 | 21.83 | 0.00% | 0.41% | 14,130 LINK |
| 5 Minutes | |||||||
| Before | 21.87 | 21.95 | 21.77 | 21.83 | -0.18% | 0.82% | 76,914 LINK |
| During | 21.83 | 21.89 | 21.64 | 21.70 | -0.60% | 1.14% | 105,687 LINK |
| 10 Minutes | |||||||
| Before | 21.69 | 21.95 | 21.65 | 21.83 | 0.64% | 1.37% | 259,893 LINK |
| During | 21.83 | 21.89 | 21.64 | 21.66 | -0.78% | 1.14% | 142,819 LINK |
| 15 Minutes | |||||||
| Before | 21.92 | 21.95 | 21.65 | 21.83 | -0.41% | 1.37% | 395,515 LINK |
| During | 21.83 | 21.89 | 21.56 | 21.57 | -1.21% | 1.51% | 195,289 LINK |
| 30 Minutes | |||||||
| Before | 21.62 | 21.95 | 21.61 | 21.83 | 0.96% | 1.55% | 651,537 LINK |
| During | 21.83 | 21.89 | 21.47 | 21.60 | -1.06% | 1.92% | 296,303 LINK |
| 1 Hour | |||||||
| Before | 21.28 | 21.95 | 21.28 | 21.83 | 2.52% | 3.05% | 1.077M LINK |
| During | 21.83 | 21.89 | 21.13 | 21.17 | -3.12% | 3.47% | 607,304 LINK |
| 2 Hours | |||||||
| Before | 21.53 | 21.95 | 20.94 | 21.83 | 1.37% | 4.60% | 1.981M LINK |
| During | 21.83 | 21.89 | 20.75 | 21.20 | -2.97% | 5.21% | 1.721M LINK |
| 4 Hours | |||||||
| Before | 20.60 | 21.95 | 20.60 | 21.83 | 5.63% | 6.15% | 3.872M LINK |
| During | 21.83 | 21.89 | 20.44 | 20.45 | -6.75% | 6.62% | 3.171M LINK |
| 6 Hours | |||||||
| Before | 20.53 | 21.95 | 20.35 | 21.83 | 5.96% | 7.29% | 4.248M LINK |
| During | 21.83 | 21.89 | 20.37 | 21.08 | -3.56% | 6.94% | 4.431M LINK |
| 8 Hours | |||||||
| Before | 20.74 | 20.82 | 20.31 | 20.60 | -0.68% | 2.45% | 1.398M LINK |
| During | 20.60 | 21.95 | 20.44 | 20.45 | -0.73% | 6.88% | 7.043M LINK |
| 12 Hours | |||||||
| Before | 20.74 | 21.95 | 20.31 | 21.83 | 4.99% | 7.47% | 5.27M LINK |
| During | 21.83 | 21.89 | 19.87 | 20.94 | -4.25% | 9.23% | 7.832M LINK |
