LINK Volatility Analysis for Initial Claims, 2nd May 2024

Data Analysis

The release

Released by the Department of Labor on 2 May 2024 at 8:30 AM EDT. Initial Jobless Claims was unchanged at 209K for the week ending 27th Apr.

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.

Measured by Clometrix

Chainlink's volatility ratio was 0.98x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 1.65x, 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 $13.61 when the figure came out. Fifteen minutes later it was 0.07% higher, and an hour later 0.51% lower. Its high-to-low range in the hour after was 1.03% of its price, against 0.73% 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 came out the day after the Federal Reserve's 1 May rate decision. Its own ratio of 0.98x 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

13.25

13.57

24h Change

0.32 (2.36%)

24h High

13.78

24h Low

12.93

24h Volume

2.366M LINK

US Initial Jobless Claims

Department of Labor

2nd May, 2024, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	13.61	13.62	13.61	13.61	0.00%	0.07%	1,235 LINK
During	13.61	13.62	13.61	13.62	0.07%	0.07%	772 LINK

5 Minutes
Before	13.63	13.64	13.61	13.61	-0.15%	0.22%	5,654 LINK
During	13.61	13.63	13.60	13.61	0.00%	0.22%	6,184 LINK

10 Minutes
Before	13.67	13.67	13.61	13.61	-0.44%	0.44%	42,854 LINK
During	13.61	13.65	13.60	13.64	0.22%	0.37%	15,245 LINK

15 Minutes
Before	13.66	13.68	13.61	13.61	-0.37%	0.51%	64,731 LINK
During	13.61	13.66	13.60	13.62	0.07%	0.44%	27,537 LINK

30 Minutes
Before	13.66	13.68	13.61	13.61	-0.37%	0.51%	95,258 LINK
During	13.61	13.66	13.58	13.58	-0.22%	0.59%	99,355 LINK

1 Hour
Before	13.64	13.70	13.60	13.61	-0.22%	0.73%	169,212 LINK
During	13.61	13.66	13.52	13.54	-0.52%	1.02%	171,839 LINK

2 Hours
Before	13.43	13.70	13.40	13.61	1.32%	2.19%	343,399 LINK
During	13.61	13.66	13.38	13.50	-0.81%	2.05%	333,463 LINK

4 Hours
Before	13.32	13.70	13.30	13.61	2.13%	2.92%	465,815 LINK
During	13.61	13.66	13.38	13.59	-0.15%	2.05%	577,342 LINK

6 Hours
Before	13.28	13.70	13.25	13.61	2.42%	3.28%	591,100 LINK
During	13.61	13.66	13.38	13.62	0.07%	2.05%	718,238 LINK

8 Hours
Before	13.25	13.38	12.93	13.33	0.60%	3.36%	543,647 LINK
During	13.32	13.70	13.30	13.59	1.99%	2.92%	1.043M LINK

12 Hours
Before	13.25	13.70	12.93	13.61	2.65%	5.62%	1.009M LINK
During	13.61	13.78	13.38	13.57	-0.29%	2.90%	1.357M LINK