Data Analysis
The release
Released by the Department of Labor on 15 June 2023 at 8:30 AM EDT. Initial Jobless Claims rose to 258K for the week ending 10th Jun, from 253K in the week ending 3rd Jun.
It arrived at the same moment as Retail Sales, Retail Sales Excluding Automobiles, Import Price Index, Export 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 1.37x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 0.82x, 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 $5.27 when the figure came out. Fifteen minutes later it was 0.19% lower, and an hour later unchanged. Its high-to-low range in the hour after was 1.14% of its price, against 1.9% 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 14 June rate decision. Its own ratio of 1.37x compares with 1.38x for those, about what 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
5.28Close
5.2724h Change
-0.01 (-0.19%)24h High
5.4224h Low
5.1624h Volume
2.921M LINKUS Initial Jobless Claims
Department of Labor
15th June, 2023, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 5.27 | 5.28 | 5.27 | 5.28 | 0.19% | 0.19% | 1,005 LINK |
| During | 5.27 | 5.29 | 5.27 | 5.28 | 0.19% | 0.38% | 2,998 LINK |
| 5 Minutes | |||||||
| Before | 5.27 | 5.28 | 5.26 | 5.28 | 0.19% | 0.38% | 15,852 LINK |
| During | 5.27 | 5.29 | 5.27 | 5.28 | 0.19% | 0.38% | 6,073 LINK |
| 10 Minutes | |||||||
| Before | 5.27 | 5.28 | 5.26 | 5.28 | 0.19% | 0.38% | 19,150 LINK |
| During | 5.27 | 5.29 | 5.25 | 5.26 | -0.19% | 0.76% | 12,423 LINK |
| 15 Minutes | |||||||
| Before | 5.29 | 5.29 | 5.26 | 5.28 | -0.19% | 0.57% | 32,785 LINK |
| During | 5.27 | 5.29 | 5.25 | 5.26 | -0.19% | 0.76% | 20,913 LINK |
| 30 Minutes | |||||||
| Before | 5.28 | 5.29 | 5.26 | 5.28 | 0.00% | 0.57% | 50,484 LINK |
| During | 5.27 | 5.29 | 5.24 | 5.25 | -0.38% | 0.95% | 53,276 LINK |
| 1 Hour | |||||||
| Before | 5.19 | 5.29 | 5.19 | 5.28 | 1.70% | 1.89% | 146,287 LINK |
| During | 5.27 | 5.29 | 5.23 | 5.27 | 0.00% | 1.13% | 138,507 LINK |
| 2 Hours | |||||||
| Before | 5.23 | 5.29 | 5.18 | 5.28 | 0.95% | 2.08% | 341,642 LINK |
| During | 5.27 | 5.29 | 5.23 | 5.25 | -0.38% | 1.13% | 263,382 LINK |
| 4 Hours | |||||||
| Before | 5.30 | 5.31 | 5.18 | 5.28 | -0.38% | 2.45% | 657,276 LINK |
| During | 5.27 | 5.29 | 5.22 | 5.25 | -0.38% | 1.32% | 431,604 LINK |
| 6 Hours | |||||||
| Before | 5.29 | 5.31 | 5.18 | 5.28 | -0.19% | 2.45% | 955,488 LINK |
| During | 5.27 | 5.29 | 5.16 | 5.26 | -0.19% | 2.46% | 772,006 LINK |
| 8 Hours | |||||||
| Before | 5.28 | 5.34 | 5.23 | 5.30 | 0.38% | 2.06% | 837,363 LINK |
| During | 5.30 | 5.31 | 5.18 | 5.25 | -0.95% | 2.45% | 1.089M LINK |
| 12 Hours | |||||||
| Before | 5.28 | 5.34 | 5.18 | 5.28 | 0.00% | 3.00% | 1.495M LINK |
| During | 5.27 | 5.42 | 5.16 | 5.27 | 0.00% | 4.80% | 1.426M LINK |
