SOL Volatility Analysis for Non-Farm Payrolls, 3rd November 2023

Data Analysis

The release

Released by the Bureau of Labor Statistics on 3 November 2023 at 8:30 AM EDT. The economy added 186K jobs for October 2023, according to Non-Farm Payrolls, after a gain of 158K in September 2023.

It arrived at the same moment as Non-Farm Private Payrolls and Unemployment Rate, so the reaction measured on this page belongs to all of them together.

Measured by Clometrix

Solana's volatility ratio was 1.41x, against 2.77x for a typical Non-Farm Payrolls release since 2021. Its volume ratio was 2.56x, against a typical 4.45x. 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 Solana moved

Solana was at $39.42 when the figure came out. Fifteen minutes later it was unchanged, and an hour later 0.81% lower. Its high-to-low range in the hour after was 2.18% of its price, against 1.7% in the hour before.

What made it matter

Since 2021, Non-Farm Payrolls releases in the two weeks before a Fed decision have moved Solana about as much as those at other times: a median volatility ratio of 2.72x across 21, against 2.81x across 49. This one came out 2 days after the Federal Reserve's 1 November rate decision. Its own ratio of 1.41x compares with 2.81x for those, so it moved the price less than its circumstances would suggest.

About Non-Farm Payrolls

Nonfarm payrolls is the measure of the number of workers in the U.S. excluding farm workers and workers in a handful of other job classifications. This is measured by the Bureau of Labor Statistics (BLS), which surveys private and government entities throughout the U.S. about their payrolls. The BLS reports the nonfarm payroll numbers to the public on a monthly basis through the closely followed “Employment Situation” report.

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.

SOL-USDT

Solana

Open

39.50

39.20

24h Change

-0.30 (-0.77%)

24h High

40.20

24h Low

37.98

24h Volume

10.216M SOL

US Non-Farm Payrolls

Bureau of Labor Statistics

3rd November, 2023, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	39.40	39.44	39.33	39.41	0.03%	0.28%	11,792 SOL
During	39.42	39.83	39.42	39.73	0.78%	1.03%	49,808 SOL

5 Minutes
Before	39.28	39.44	39.23	39.41	0.33%	0.53%	35,767 SOL
During	39.42	39.89	39.42	39.85	1.08%	1.18%	127,032 SOL

10 Minutes
Before	39.05	39.44	39.04	39.41	0.91%	1.01%	103,075 SOL
During	39.42	39.89	39.42	39.59	0.43%	1.18%	189,180 SOL

15 Minutes
Before	38.91	39.44	38.85	39.41	1.27%	1.50%	144,441 SOL
During	39.42	39.89	39.33	39.43	0.03%	1.40%	249,734 SOL

30 Minutes
Before	39.15	39.44	38.80	39.41	0.66%	1.62%	260,110 SOL
During	39.42	39.89	39.33	39.69	0.68%	1.40%	365,081 SOL

1 Hour
Before	38.88	39.44	38.77	39.41	1.34%	1.70%	439,889 SOL
During	39.42	39.89	39.03	39.10	-0.82%	2.16%	610,702 SOL

2 Hours
Before	38.27	39.44	38.08	39.41	2.89%	3.45%	871,777 SOL
During	39.42	40.20	39.01	40.01	1.47%	2.96%	1.157M SOL

4 Hours
Before	39.41	39.49	38.08	39.41	0.00%	3.57%	1.925M SOL
During	39.42	40.20	39.01	39.61	0.48%	2.96%	2M SOL

6 Hours
Before	39.00	39.77	38.08	39.41	1.04%	4.25%	2.634M SOL
During	39.42	40.20	38.51	39.10	-0.82%	4.20%	2.874M SOL

8 Hours
Before	39.50	39.77	37.98	39.42	-0.20%	4.50%	3.572M SOL
During	39.41	40.20	38.08	39.61	0.50%	5.27%	3.925M SOL

12 Hours
Before	39.50	39.77	37.98	39.41	-0.23%	4.50%	5.497M SOL
During	39.42	40.20	38.51	39.20	-0.56%	4.20%	4.719M SOL