ETH Volatility Analysis for International Imports, 3rd July 2024

Data Analysis

Measured by Clometrix

Ethereum's volatility ratio was 1.95x, against 1.25x for a typical International Imports release since 2021. Its volume ratio was 3.24x, against a typical 1.41x. That is a strong reaction by this release's own standard. 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 Ethereum moved

Ethereum was at $3,297.79 when the figure came out. Fifteen minutes later it was 0.31% lower, and an hour later 0.3% higher. Its high-to-low range in the hour after was 1% of its price, against 0.68% in the hour before.

The release

Released by the Bureau of Census, Bureau of Economic Analysis on 3 July 2024 at 8:30 AM EDT. The International Imports in Goods and Services fell to $339.4B for May 2024, from $339.5B in April 2024.

It arrived at the same moment as International Trade Balance in Goods and Services, International Exports in Goods and Services, Initial Jobless Claims and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.

What made it matter

Since 2021, International Imports releases in the two weeks before a Fed decision have moved Ethereum less than those at other times: a median volatility ratio of 1.14x across 23, against 1.39x across 47. This one was not within two weeks of a Fed decision. Its own ratio of 1.95x compares with 1.39x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 70 International Imports releases since 2021, Ethereum's median volatility ratio is 1.25x.

About International Imports in Goods and Services

International Imports measures economic transactions between a nation and its trading partners, showing the amount of a country's imports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move in to the country. Economists use this information to gauge the relative strength of a country's economy.