Data Analysis
The release
Released by the Department of Labor on 13 May 2021 at 8:30 AM EDT. Initial Jobless Claims fell to 494K for the week ending 8th May, from 517K in the week ending 1st May.
It arrived at the same moment as Producer Price Index, Core Producer Price Index 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 0.81x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 0.90x, 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 $43.06 when the figure came out. Fifteen minutes later it was 0.26% lower, and an hour later 0.84% higher. Its high-to-low range in the hour after was 2.74% of its price, against 3.16% 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 0.81x 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
43.24Close
43.6424h Change
0.40 (0.92%)24h High
44.9624h Low
40.0724h Volume
9.993M LINKUS Initial Jobless Claims
Department of Labor
13th May, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 43.01 | 43.10 | 42.99 | 43.06 | 0.12% | 0.26% | 6,038 LINK |
| During | 43.06 | 43.06 | 42.92 | 42.97 | -0.21% | 0.33% | 6,409 LINK |
| 5 Minutes | |||||||
| Before | 42.98 | 43.10 | 42.82 | 43.06 | 0.19% | 0.65% | 27,956 LINK |
| During | 43.06 | 43.14 | 42.92 | 43.14 | 0.19% | 0.51% | 22,042 LINK |
| 10 Minutes | |||||||
| Before | 42.95 | 43.10 | 42.80 | 43.06 | 0.26% | 0.70% | 59,517 LINK |
| During | 43.06 | 43.14 | 42.62 | 42.64 | -0.98% | 1.21% | 53,529 LINK |
| 15 Minutes | |||||||
| Before | 42.69 | 43.10 | 42.67 | 43.06 | 0.86% | 1.00% | 104,749 LINK |
| During | 43.06 | 43.14 | 42.62 | 42.95 | -0.26% | 1.21% | 76,232 LINK |
| 30 Minutes | |||||||
| Before | 42.51 | 43.10 | 42.04 | 43.06 | 1.28% | 2.46% | 198,591 LINK |
| During | 43.06 | 43.54 | 42.62 | 43.54 | 1.10% | 2.11% | 168,864 LINK |
| 1 Hour | |||||||
| Before | 42.00 | 43.10 | 41.74 | 43.06 | 2.46% | 3.16% | 417,224 LINK |
| During | 43.06 | 43.80 | 42.62 | 43.42 | 0.83% | 2.69% | 332,322 LINK |
| 2 Hours | |||||||
| Before | 41.96 | 43.10 | 40.30 | 43.06 | 2.55% | 6.50% | 1.196M LINK |
| During | 43.06 | 44.53 | 42.62 | 44.25 | 2.69% | 4.29% | 632,655 LINK |
| 4 Hours | |||||||
| Before | 43.55 | 43.80 | 40.30 | 43.06 | -1.14% | 7.99% | 2.346M LINK |
| During | 43.06 | 44.60 | 42.62 | 44.38 | 2.97% | 4.44% | 1.349M LINK |
| 6 Hours | |||||||
| Before | 44.26 | 44.96 | 40.30 | 43.06 | -2.79% | 10.36% | 2.777M LINK |
| During | 43.06 | 44.60 | 40.07 | 41.36 | -4.11% | 10.16% | 3.058M LINK |
| 8 Hours | |||||||
| Before | 43.24 | 44.96 | 42.59 | 43.55 | 0.71% | 5.27% | 2.592M LINK |
| During | 43.55 | 44.60 | 40.30 | 44.38 | 1.87% | 9.64% | 3.695M LINK |
| 12 Hours | |||||||
| Before | 43.24 | 44.96 | 40.30 | 43.06 | -0.42% | 10.36% | 4.938M LINK |
| During | 43.06 | 44.60 | 40.07 | 43.64 | 1.33% | 10.16% | 5.055M LINK |
