Data Analysis
The release
Released by the Bureau of Economic Analysis on 29 September 2023 at 8:30 AM EDT. The Personal Income and Outlays came in at 0.4% for August 2023, against 0.2% in July 2023. Personal income is rising faster 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.
How Ethereum moved
Ethereum was at $1,670.40 when the figure came out. Fifteen minutes later it was 0.21% higher, and an hour later 0.15% higher. Its high-to-low range in the hour after was 0.34% of its price, against 0.33% in the hour before.
Measured by Clometrix
Ethereum's volatility ratio was 1.77x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 3.15x, against a typical 2.15x. That is about what this release usually does. 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.
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 was not within two weeks of a Fed decision. Its own ratio of 1.77x compares with 1.77x for those, about what its circumstances would suggest.
Its record
Across 69 Personal Income releases since 2021, Ethereum's median volatility ratio is 1.80x.
What it means
Ordinary Volatility Response
Ethereum posted a measured reaction to the Personal Income release, with price action remaining close to typical session ranges. The asset stood at $1,670.40 at the 8:30 AM print. It rose 0.21 percent fifteen minutes later and 0.15 percent after one hour. The high-to-low range in the following hour reached 0.34 percent of price, compared with 0.33 percent beforehand.
Clometrix recorded a volatility ratio of 1.77 times normal during the release window, against the 1.80 times median observed across 69 Personal Income events since 2021. Volume expanded to 3.15 times baseline, above the usual 2.15 times multiple. The outcome fits the event's established pattern for Ethereum and earned an ordinary classification.
The release arrived together with Personal Consumption Expenditures and core PCE prints. It fell 32 days before the next Federal Reserve decision, outside the two-week pre-FOMC window. Personal Income releases in that window have produced a median volatility ratio of 1.86 times, while those farther away have shown 1.77 times. The observed 1.77 times ratio matched the non-FOMC median exactly. Traders reviewing the record may observe that timing relative to policy meetings has not altered Ethereum's response magnitude for this event.
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
1,655.44Close
1,667.8624h Change
12.42 (0.74%)24h High
1,688.0024h Low
1,648.3724h Volume
250,383 ETHUS Personal Income and Outlays
Bureau of Economic Analysis
29th September, 2023, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 1670.41 | 1670.41 | 1670.40 | 1670.40 | 0.00% | 0.00% | 98 ETH |
| During | 1670.40 | 1671.41 | 1669.11 | 1670.46 | 0.00% | 0.14% | 764 ETH |
| 5 Minutes | |||||||
| Before | 1669.79 | 1670.47 | 1669.73 | 1670.40 | 0.04% | 0.04% | 1,137 ETH |
| During | 1670.40 | 1671.83 | 1669.11 | 1670.73 | 0.02% | 0.16% | 2,584 ETH |
| 10 Minutes | |||||||
| Before | 1668.85 | 1670.47 | 1667.97 | 1670.40 | 0.09% | 0.15% | 2,097 ETH |
| During | 1670.40 | 1673.56 | 1669.11 | 1673.55 | 0.19% | 0.27% | 4,562 ETH |
| 15 Minutes | |||||||
| Before | 1667.71 | 1670.47 | 1666.00 | 1670.40 | 0.16% | 0.27% | 4,477 ETH |
| During | 1670.40 | 1674.35 | 1669.11 | 1673.88 | 0.21% | 0.31% | 5,511 ETH |
| 30 Minutes | |||||||
| Before | 1668.78 | 1670.47 | 1666.00 | 1670.40 | 0.10% | 0.27% | 7,822 ETH |
| During | 1670.40 | 1674.80 | 1669.11 | 1673.59 | 0.19% | 0.34% | 7,440 ETH |
| 1 Hour | |||||||
| Before | 1670.45 | 1671.52 | 1666.00 | 1670.40 | 0.00% | 0.33% | 11,983 ETH |
| During | 1670.40 | 1674.80 | 1669.11 | 1672.91 | 0.15% | 0.34% | 11,373 ETH |
| 2 Hours | |||||||
| Before | 1673.45 | 1675.45 | 1666.00 | 1670.40 | -0.18% | 0.56% | 17,969 ETH |
| During | 1670.40 | 1676.51 | 1655.00 | 1663.87 | -0.39% | 1.28% | 34,706 ETH |
| 4 Hours | |||||||
| Before | 1677.96 | 1678.97 | 1666.00 | 1670.40 | -0.45% | 0.77% | 33,699 ETH |
| During | 1670.40 | 1684.29 | 1655.00 | 1668.45 | -0.12% | 1.74% | 66,659 ETH |
| 6 Hours | |||||||
| Before | 1657.14 | 1688.00 | 1656.63 | 1670.40 | 0.79% | 1.86% | 97,592 ETH |
| During | 1670.40 | 1684.29 | 1655.00 | 1661.68 | -0.52% | 1.74% | 81,256 ETH |
| 8 Hours | |||||||
| Before | 1655.44 | 1688.00 | 1648.37 | 1677.96 | 1.34% | 2.35% | 110,948 ETH |
| During | 1677.96 | 1684.29 | 1655.00 | 1668.45 | -0.57% | 1.74% | 100,359 ETH |
| 12 Hours | |||||||
| Before | 1655.44 | 1688.00 | 1648.37 | 1670.40 | 0.90% | 2.35% | 144,648 ETH |
| During | 1670.40 | 1684.29 | 1655.00 | 1667.86 | -0.15% | 1.74% | 105,736 ETH |
