How Hedera reacted to the Personal Consumption Expenditures on 1 December 2022

Measured by Clometrix

Hedera's volatility ratio was 1.99x, against 1.51x for a typical PCE release since 2021. Its volume ratio was 7.49x, against a typical 1.80x. 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 Hedera moved

Hedera was at $0.050200 when the figure came out. Fifteen minutes later it was unchanged, and an hour later 0.6% lower. Its high-to-low range in the hour after was 1.79% of its price, against 0.6% in the hour before.

The release

Released by the Bureau of Economic Analysis on 1 December 2022 at 8:30 AM EST. The Personal Consumption Expenditures came in at 0.5% for October 2022, against 0.3% in September 2022. Prices are rising faster than before.

It arrived at the same moment as Initial Jobless Claims, Continued Jobless Claims, Core Personal Consumption Expenditures and Personal Income and Outlays, so the reaction measured on this page belongs to all of them together.

What made it matter

Since 2021, PCE releases in the two weeks before a Fed decision have moved Hedera about as much as those at other times: a median volatility ratio of 1.41x across 18, against 1.51x across 52. This one came out 13 days before the Federal Reserve's 14 December rate decision. Its own ratio of 1.99x compares with 1.41x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 70 PCE releases since 2021, Hedera's median volatility ratio is 1.48x.

How it compares

Across 69 PCE releases since 2021, Hedera's usual price swing is 1.51x. This one was 1.32 times the usual.

MutedOrdinaryStrongExceptional

Thin line: PCE's usual, 1.51x. Thick line: this release, 1.99x.

Minute by minute

Each row is the time after the release, with the same length of time before it for comparison.

After	High	Low	Close	Change	Range	Range before	Volume
1 minute	0.0503	0.0501	0.0502	0.00%	0.40%	0.20%	681,173 HBAR
5 minutes	0.0505	0.0501	0.0504	0.40%	0.79%	0.20%	2.032M HBAR
10 minutes	0.0505	0.0501	0.0504	0.40%	0.79%	0.40%	2.413M HBAR
15 minutes	0.0505	0.0501	0.0502	0.00%	0.79%	0.40%	2.74M HBAR
30 minutes	0.0505	0.0496	0.0499	-0.60%	1.78%	0.40%	4.533M HBAR
1 hour	0.0505	0.0496	0.0499	-0.60%	1.78%	0.60%	5.539M HBAR
2 hours	0.0505	0.0491	0.0495	-1.41%	2.77%	0.99%	9.366M HBAR
4 hours	0.0505	0.0491	0.0496	-1.21%	2.77%	0.99%	12.556M HBAR
6 hours	0.0505	0.0489	0.049	-2.45%	3.17%	0.99%	16.588M HBAR
8 hours	0.0505	0.0491	0.0496	-1.01%	2.77%	1.19%	16.957M HBAR
12 hours	0.0505	0.0486	0.0493	-1.83%	3.76%	1.19%	37.866M HBAR

Every coin at this release

Coin	Price swing	Usual for PCE	Reaction
Bitcoin	7.47x	2.03x	Exceptional
Ethereum	5.10x	1.77x	Exceptional
XRP	3.90x	1.81x	Exceptional
BNB	2.41x	1.75x	Strong
Solana	2.27x	1.57x	Strong
Dogecoin	3.48x	1.52x	Exceptional
TRON	2.70x	1.43x	Strong
Cardano	4.86x	1.90x	Exceptional
Chainlink	2.51x	1.62x	Strong
Bitcoin Cash	3.99x	1.69x	Exceptional
Hedera	1.99x	1.51x	Strong
Avalanche	1.80x	1.55x	Ordinary
Litecoin	2.66x	1.64x	Strong
Shiba Inu	2.32x	1.75x	Strong
Uniswap	1.66x	1.49x	Ordinary
Polkadot	1.99x	1.50x	Strong
Aave	2.32x	1.58x	Strong
NEAR Protocol	2.00x	1.43x	Strong
Aptos	2.98x	1.73x	Strong
Internet Computer	2.41x	1.50x	Strong
POL (prev. MATIC)	3.16x	1.60x	Strong
Filecoin	2.48x	1.51x	Strong

What is the Personal Consumption Expenditures?

Personal consumption expenditures (PCE) is a measure of the prices people in the United States pay for goods and services. PCE accounts for about two-thirds of domestic spending and is a significant driver of gross domestic product (GDP). An estimated total of personal consumption expenditures (PCE) is compiled by the Bureau of Economic Analysis as one way to measure and track changes in the prices of consumer goods over time.

Every PCE release for Hedera

Questions about this page

Is 1.99x a lot?

For a PCE release it is strong: the usual is 1.51x. Each report has its own usual size, and its releases show it.

Will the next PCE do the same?

Nobody can say. A forecast shows the range Hedera moved in after past PCE releases, so you can plan for the likely size of the move.

What is PCE, and why does the Fed watch it?

PCE is the Personal Consumption Expenditures price index published by the Bureau of Economic Analysis. The Federal Reserve measures its 2 percent inflation goal with the PCE price index. PCE, Core PCE and Personal Income are released together at 8:30 a.m. ET and share one reaction. Their median Bitcoin price swing since 2021 is 2.03x, which places them in Tier 2.

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.