Data Analysis
The release
Released by the Department of Labor on 23 March 2023 at 8:30 AM EDT. Initial Jobless Claims rose to 230K for the week ending 18th Mar, from 222K in the week ending 11th Mar.
It arrived at the same moment as Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
Measured by Clometrix
Chainlink's volatility ratio was 0.77x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 1.10x, 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 $7.32 when the figure came out. Fifteen minutes later it was unchanged, and an hour later unchanged. Its high-to-low range in the hour after was 0.68% of its price, against 0.82% 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 22 March rate decision. Its own ratio of 0.77x 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
7.19Close
7.6424h Change
0.45 (5.89%)24h High
7.6624h Low
7.0924h Volume
6.204M LINKUS Initial Jobless Claims
Department of Labor
23rd March, 2023, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 7.32 | 7.32 | 7.31 | 7.32 | 0.00% | 0.14% | 1,320 LINK |
| During | 7.32 | 7.33 | 7.31 | 7.33 | 0.14% | 0.27% | 3,546 LINK |
| 5 Minutes | |||||||
| Before | 7.33 | 7.33 | 7.31 | 7.32 | -0.14% | 0.27% | 8,146 LINK |
| During | 7.32 | 7.33 | 7.31 | 7.33 | 0.14% | 0.27% | 10,593 LINK |
| 10 Minutes | |||||||
| Before | 7.34 | 7.35 | 7.31 | 7.32 | -0.27% | 0.54% | 16,812 LINK |
| During | 7.32 | 7.33 | 7.31 | 7.33 | 0.14% | 0.27% | 16,136 LINK |
| 15 Minutes | |||||||
| Before | 7.35 | 7.35 | 7.31 | 7.32 | -0.41% | 0.54% | 35,965 LINK |
| During | 7.32 | 7.34 | 7.31 | 7.32 | 0.00% | 0.41% | 55,911 LINK |
| 30 Minutes | |||||||
| Before | 7.34 | 7.37 | 7.31 | 7.32 | -0.27% | 0.81% | 79,733 LINK |
| During | 7.32 | 7.35 | 7.31 | 7.34 | 0.27% | 0.54% | 86,375 LINK |
| 1 Hour | |||||||
| Before | 7.33 | 7.37 | 7.31 | 7.32 | -0.14% | 0.81% | 158,354 LINK |
| During | 7.32 | 7.36 | 7.31 | 7.32 | 0.00% | 0.68% | 183,012 LINK |
| 2 Hours | |||||||
| Before | 7.34 | 7.37 | 7.30 | 7.32 | -0.27% | 0.95% | 334,297 LINK |
| During | 7.32 | 7.42 | 7.31 | 7.38 | 0.81% | 1.48% | 453,157 LINK |
| 4 Hours | |||||||
| Before | 7.33 | 7.45 | 7.30 | 7.32 | -0.14% | 2.01% | 947,218 LINK |
| During | 7.32 | 7.63 | 7.31 | 7.56 | 3.17% | 4.19% | 1.648M LINK |
| 6 Hours | |||||||
| Before | 7.25 | 7.45 | 7.21 | 7.32 | 0.96% | 3.22% | 1.267M LINK |
| During | 7.32 | 7.63 | 7.31 | 7.52 | 2.66% | 4.19% | 2.213M LINK |
| 8 Hours | |||||||
| Before | 7.19 | 7.33 | 7.09 | 7.33 | 1.91% | 3.27% | 1.154M LINK |
| During | 7.33 | 7.63 | 7.30 | 7.56 | 3.04% | 4.33% | 2.596M LINK |
| 12 Hours | |||||||
| Before | 7.19 | 7.45 | 7.09 | 7.32 | 1.78% | 4.83% | 2.101M LINK |
| During | 7.32 | 7.66 | 7.31 | 7.64 | 4.19% | 4.57% | 4.103M LINK |
