LINK Volatility Analysis for Initial Claims, 31st August 2023

Data Analysis

The release

Released by the Department of Labor on 31 August 2023 at 8:30 AM EDT. Initial Jobless Claims fell to 234K for the week ending 26th Aug, from 240K in the week ending 19th Aug.

It arrived at the same moment as Personal Income and Outlays, Personal Consumption Expenditures, Core Personal Consumption Expenditures 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 0.50x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 0.56x, 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 $6.01 when the figure came out. Fifteen minutes later it was 0.17% lower, and an hour later 0.5% lower. Its high-to-low range in the hour after was 0.67% of its price, against 1% 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 was not within two weeks of a Fed decision. Its own ratio of 0.50x compares with 1.38x for those, so it moved the price less than 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

5.91

Close

5.91

24h Change

0.00 (0.00%)

24h High

6.06

24h Low

5.73

24h Volume

4.174M LINK

US Initial Jobless Claims

Department of Labor

31st August, 2023, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before6.016.016.006.010.00%0.17%673 LINK
During6.016.016.006.00-0.17%0.17%3,338 LINK
 
5 Minutes
Before6.016.026.006.010.00%0.33%1,677 LINK
During6.016.016.006.010.00%0.17%8,188 LINK
 
10 Minutes
Before6.006.026.006.010.17%0.33%5,264 LINK
During6.016.016.006.00-0.17%0.17%9,275 LINK
 
15 Minutes
Before6.026.026.006.01-0.17%0.33%7,803 LINK
During6.016.016.006.00-0.17%0.17%14,144 LINK
 
30 Minutes
Before6.036.046.006.01-0.33%0.66%88,448 LINK
During6.016.015.996.00-0.17%0.33%33,395 LINK
 
1 Hour
Before6.036.066.006.01-0.33%0.99%254,484 LINK
During6.016.015.975.98-0.50%0.67%154,597 LINK
 
2 Hours
Before5.986.065.986.010.50%1.32%370,093 LINK
During6.016.015.965.98-0.50%0.83%264,403 LINK
 
4 Hours
Before5.986.065.976.010.50%1.49%488,804 LINK
During6.016.025.905.93-1.35%1.99%800,537 LINK
 
6 Hours
Before5.956.065.956.011.00%1.82%825,249 LINK
During6.016.025.735.87-2.39%4.82%1.888M LINK
 
8 Hours
Before5.916.005.905.981.17%1.67%901,772 LINK
During5.986.065.905.93-0.84%2.64%1.289M LINK
 
12 Hours
Before5.916.065.906.011.66%2.64%1.391M LINK
During6.016.025.735.91-1.69%4.82%2.784M LINK

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