Data Analysis
The release
Released by the Bureau of Economic Analysis on 27 September 2024 at 8:30 AM EDT. The Personal Income and Outlays came in at 0.1% for August 2024, against 0.2% in July 2024. 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.
Measured by Clometrix
Ethereum's volatility ratio was 1.50x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 1.46x, against a typical 2.15x. 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 Ethereum moved
Ethereum was at $2,653.77 when the figure came out. Fifteen minutes later it was 0.32% higher, and an hour later unchanged. Its high-to-low range in the hour after was 0.48% of its price, against 0.38% in the hour before.
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 1.50x compares with 1.77x for those, so it moved the price less than its circumstances would suggest.
What it means
Ethereum registered a quiet reaction to the 27 September Personal Income release. Its volatility ratio reached 1.50x and its volume ratio 1.46x, both below the event norms of 1.80x and 2.15x recorded since 2021. The price stood at $2,653.77 at release, rose 0.32 percent within fifteen minutes, then finished the hour unchanged, with a high-to-low range of only 0.48 percent.
It fell outside the two-week window ahead of the next Federal Reserve decision, a period in which Personal Income releases have historically generated a median volatility ratio of 1.86x for Ethereum. The 1.50x outcome here therefore sits noticeably below even the 1.77x median observed for releases at other times.
Traders monitoring the next Personal Income print can note that timing away from imminent policy meetings tends to coincide with subdued price action in Ethereum.
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
2,634.48Close
2,692.0024h Change
57.52 (2.14%)24h High
2,728.6024h Low
2,615.2124h Volume
280,945 ETHUS Personal Income and Outlays
Bureau of Economic Analysis
27th September, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 2653.93 | 2654.39 | 2653.70 | 2653.77 | -0.01% | 0.03% | 100 ETH |
| During | 2653.77 | 2656.50 | 2652.49 | 2656.50 | 0.10% | 0.15% | 400 ETH |
| 5 Minutes | |||||||
| Before | 2648.90 | 2654.78 | 2648.90 | 2653.77 | 0.18% | 0.22% | 519 ETH |
| During | 2653.77 | 2659.94 | 2652.49 | 2657.64 | 0.15% | 0.28% | 1,412 ETH |
| 10 Minutes | |||||||
| Before | 2646.00 | 2654.78 | 2645.00 | 2653.77 | 0.29% | 0.37% | 887 ETH |
| During | 2653.77 | 2663.80 | 2652.49 | 2660.99 | 0.27% | 0.42% | 2,507 ETH |
| 15 Minutes | |||||||
| Before | 2650.55 | 2654.78 | 2645.00 | 2653.77 | 0.12% | 0.37% | 1,653 ETH |
| During | 2653.77 | 2664.99 | 2652.49 | 2662.14 | 0.31% | 0.47% | 3,127 ETH |
| 30 Minutes | |||||||
| Before | 2652.00 | 2655.00 | 2645.00 | 2653.77 | 0.07% | 0.38% | 3,105 ETH |
| During | 2653.77 | 2665.00 | 2652.49 | 2658.87 | 0.19% | 0.47% | 5,732 ETH |
| 1 Hour | |||||||
| Before | 2645.26 | 2655.00 | 2645.00 | 2653.77 | 0.32% | 0.38% | 6,131 ETH |
| During | 2653.77 | 2665.00 | 2652.38 | 2654.16 | 0.01% | 0.47% | 9,813 ETH |
| 2 Hours | |||||||
| Before | 2646.60 | 2655.00 | 2641.30 | 2653.77 | 0.27% | 0.52% | 13,439 ETH |
| During | 2653.77 | 2696.99 | 2642.20 | 2691.39 | 1.40% | 2.03% | 35,191 ETH |
| 4 Hours | |||||||
| Before | 2673.08 | 2674.66 | 2641.30 | 2653.77 | -0.73% | 1.25% | 36,331 ETH |
| During | 2653.77 | 2701.00 | 2642.20 | 2700.87 | 1.74% | 2.18% | 75,354 ETH |
| 6 Hours | |||||||
| Before | 2662.81 | 2677.61 | 2641.30 | 2653.77 | -0.34% | 1.36% | 73,913 ETH |
| During | 2653.77 | 2728.60 | 2642.20 | 2689.29 | 1.32% | 3.17% | 121,014 ETH |
| 8 Hours | |||||||
| Before | 2634.48 | 2677.61 | 2615.21 | 2673.08 | 1.44% | 2.33% | 88,725 ETH |
| During | 2673.08 | 2701.00 | 2641.30 | 2700.87 | 1.03% | 2.21% | 111,685 ETH |
| 12 Hours | |||||||
| Before | 2634.48 | 2677.61 | 2615.21 | 2653.77 | 0.73% | 2.33% | 125,056 ETH |
| During | 2653.77 | 2728.60 | 2642.20 | 2692.00 | 1.42% | 3.17% | 155,889 ETH |
