Data Analysis
The release
Released by the Department of Labor on 3 November 2022 at 8:30 AM EDT. Initial Jobless Claims rose to 202K for the week ending 29th Oct, from 201K in the week ending 22nd Oct.
It arrived at the same moment as International Trade Balance in Goods and Services, International Imports in Goods and Services, International Exports in Goods and Services and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
How Chainlink moved
Chainlink was at $7.83 when the figure came out. Fifteen minutes later it was 0.13% lower, and an hour later 0.77% lower. Its high-to-low range in the hour after was 1.92% of its price, against 3.07% in the hour before.
Measured by Clometrix
Chainlink's volatility ratio was 1.79x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 1.44x, against a typical 1.63x. That is about what this release usually does. 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.
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 the day after the Federal Reserve's 2 November rate decision. Its own ratio of 1.79x 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
7.54Close
7.8124h Change
0.27 (3.46%)24h High
8.0224h Low
7.5024h Volume
7.874M LINKUS Initial Jobless Claims
Department of Labor
3rd November, 2022, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 7.82 | 7.83 | 7.81 | 7.83 | 0.13% | 0.26% | 3,667 LINK |
| During | 7.83 | 7.86 | 7.82 | 7.86 | 0.38% | 0.51% | 8,353 LINK |
| 5 Minutes | |||||||
| Before | 7.81 | 7.84 | 7.81 | 7.83 | 0.26% | 0.38% | 35,224 LINK |
| During | 7.83 | 7.88 | 7.82 | 7.85 | 0.25% | 0.76% | 42,608 LINK |
| 10 Minutes | |||||||
| Before | 7.86 | 7.86 | 7.79 | 7.83 | -0.38% | 0.89% | 69,978 LINK |
| During | 7.83 | 7.88 | 7.79 | 7.82 | -0.13% | 1.14% | 69,809 LINK |
| 15 Minutes | |||||||
| Before | 7.91 | 7.93 | 7.79 | 7.83 | -1.02% | 1.77% | 94,937 LINK |
| During | 7.83 | 7.88 | 7.79 | 7.82 | -0.13% | 1.14% | 86,119 LINK |
| 30 Minutes | |||||||
| Before | 7.87 | 7.97 | 7.79 | 7.83 | -0.51% | 2.26% | 179,685 LINK |
| During | 7.83 | 7.88 | 7.74 | 7.81 | -0.26% | 1.78% | 189,432 LINK |
| 1 Hour | |||||||
| Before | 7.95 | 8.02 | 7.78 | 7.83 | -1.53% | 2.99% | 554,916 LINK |
| During | 7.83 | 7.88 | 7.73 | 7.77 | -0.77% | 1.90% | 656,520 LINK |
| 2 Hours | |||||||
| Before | 7.90 | 8.02 | 7.78 | 7.83 | -0.89% | 2.99% | 933,017 LINK |
| During | 7.83 | 7.88 | 7.65 | 7.83 | 0.00% | 2.92% | 1.145M LINK |
| 4 Hours | |||||||
| Before | 7.81 | 8.02 | 7.78 | 7.83 | 0.26% | 2.99% | 1.372M LINK |
| During | 7.83 | 7.94 | 7.65 | 7.85 | 0.25% | 3.65% | 1.88M LINK |
| 6 Hours | |||||||
| Before | 7.88 | 8.02 | 7.77 | 7.83 | -0.64% | 3.12% | 2.467M LINK |
| During | 7.83 | 8.01 | 7.65 | 7.85 | 0.25% | 4.49% | 2.544M LINK |
| 8 Hours | |||||||
| Before | 7.54 | 7.96 | 7.50 | 7.81 | 3.46% | 5.78% | 2.971M LINK |
| During | 7.81 | 8.02 | 7.65 | 7.85 | 0.51% | 4.61% | 3.252M LINK |
| 12 Hours | |||||||
| Before | 7.54 | 8.02 | 7.50 | 7.83 | 3.70% | 6.48% | 4.343M LINK |
| During | 7.83 | 8.01 | 7.65 | 7.81 | -0.26% | 4.49% | 3.531M LINK |
