ETH Volatility Analysis for Personal Income, 28th April 2023

Data Analysis

Measured by Clometrix

Ethereum's volatility ratio was 2.93x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 4.42x, against a typical 2.15x. 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 $1,907.78 when the figure came out. Fifteen minutes later it was 0.07% lower, and an hour later 0.21% lower. Its high-to-low range in the hour after was 1.01% of its price, against 0.89% in the hour before.

The release

Released by the Bureau of Economic Analysis on 28 April 2023 at 8:30 AM EDT. The Personal Income and Outlays came in at 0.5% for March 2023, against 0.6% in February 2023. Personal income is still rising, but more slowly than before.

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

What made it matter

Since 2021, Personal Income releases in the two weeks before a Fed decision have moved Ethereum about as much as those at other times: a median volatility ratio of 1.86x across 18, against 1.77x across 51. This one came out 5 days before the Federal Reserve's 3 May rate decision. Its own ratio of 2.93x compares with 1.86x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 69 Personal Income releases since 2021, Ethereum's median volatility ratio is 1.80x.

What it means

Ethereum registered a strong reaction to the 28 April Personal Income release. Volatility reached 2.93x the level seen in an ordinary quarter-hour that day, compared with the 1.80x median across 69 releases of this type since 2021. Volume expanded 4.42x against a typical 2.15x. The move therefore stood out against the event's own record rather than against any broader market backdrop.

The release printed Personal Income at 0.5% for March, down from 0.6% in February, and landed at the same moment as PCE at 0.1% and core PCE at 0.3%. It also arrived five days before the Federal Reserve's May decision. Releases in the two weeks before a policy meeting have produced a median volatility ratio of 1.86x since 2021, yet this instance reached 2.93x, exceeding the timing benchmark.

Price action stayed modest. Ethereum stood at $1,907.78 at the print, eased 0.07% within fifteen minutes and 0.21% within the hour, while the high-low range widened only to 1.01% from 0.89% beforehand. For the next release of this event a trader can therefore watch whether concurrent data again lift the reaction above the pre-Fed median, without assuming any single figure will dictate the outcome.

About Personal Income and Outlays

Personal Income measures the change in the total value of income received from all sources by consumers. Income is closely correlated with consumer spending, which accounts for a majority of overall economic activity.

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.

ETH-USDT

Ethereum

Open

1,904.75

Close

1,890.59

24h Change

-14.16 (-0.75%)

24h High

1,923.88

24h Low

1,873.94

24h Volume

386,548 ETH

US Personal Income and Outlays

Bureau of Economic Analysis

28th April, 2023, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before1907.441907.791907.401907.780.02%0.02%145 ETH
During1907.781909.151903.411906.60-0.06%0.30%1,573 ETH
 
5 Minutes
Before1908.201908.211906.121907.78-0.02%0.11%665 ETH
During1907.781915.311902.061903.87-0.21%0.69%9,454 ETH
 
10 Minutes
Before1904.691908.211904.681907.780.16%0.18%1,796 ETH
During1907.781915.311902.061905.77-0.11%0.69%11,297 ETH
 
15 Minutes
Before1904.181908.211904.001907.780.19%0.22%2,764 ETH
During1907.781915.311902.061906.53-0.07%0.69%13,158 ETH
 
30 Minutes
Before1902.331908.211896.181907.780.29%0.63%8,354 ETH
During1907.781915.311897.421899.00-0.46%0.93%18,923 ETH
 
1 Hour
Before1912.071912.081895.021907.78-0.22%0.89%18,707 ETH
During1907.781915.311896.031903.73-0.21%1.01%25,258 ETH
 
2 Hours
Before1909.901915.121895.021907.78-0.11%1.05%28,306 ETH
During1907.781915.311880.321895.56-0.64%1.83%60,935 ETH
 
4 Hours
Before1914.401917.351895.021907.78-0.35%1.16%56,365 ETH
During1907.781915.311873.941885.62-1.18%2.16%136,374 ETH
 
6 Hours
Before1911.591923.881895.021907.78-0.20%1.50%87,955 ETH
During1907.781915.311873.941887.01-1.10%2.16%161,311 ETH
 
8 Hours
Before1904.751923.881902.161914.400.50%1.13%111,263 ETH
During1914.401917.351873.941885.62-1.53%2.26%192,739 ETH
 
12 Hours
Before1904.751923.881895.021907.780.16%1.50%167,628 ETH
During1907.781915.311873.941890.59-0.91%2.16%218,920 ETH

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