Data Analysis
The release
Released by the Bureau of Economic Analysis on 27 November 2024 at 10:00 AM EST. The Personal Income and Outlays came in at 0.7% for October 2024, against 0.3% in September 2024. 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.
Measured by Clometrix
Ethereum's volatility ratio was 0.98x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 1.64x, 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 $3,520.51 when the figure came out. Fifteen minutes later it was 0.44% higher, and an hour later 0.92% higher. Its high-to-low range in the hour after was 1.58% of its price, against 1.72% 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 0.98x 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 Personal Income release. Volatility reached only 0.98x in the quarter hour after the print, well below the 1.80x median recorded for this event since 2021. Volume rose to 1.64x against a typical 2.15x. The market therefore showed almost no response despite the stronger reading.
Price action remained contained
It advanced 0.44 percent in the next fifteen minutes and 0.92 percent after one hour. The high-to-low range in that hour measured 1.58 percent of price, narrower than the 1.72 percent span seen in the hour before. The outcome aligned with Clometrix classification of the reaction as quiet.
The release coincided with PCE and Core PCE prints, both at 0.3 percent for October. Personal income itself rose 0.7 percent against 0.3 percent in September. It fell twenty days before the December Federal Reserve decision and therefore outside the two-week window around policy meetings. Across non-Fed windows since 2021 the median volatility ratio for this event stands at 1.77x. The observed 0.98x therefore fell short of what the surrounding circumstances would normally produce. Traders monitoring the next Personal Income release can note that even bundled data sometimes generate minimal movement when the figures arrive well clear of Federal Reserve dates.
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
3,364.77Close
3,621.4924h Change
256.72 (7.09%)24h High
3,684.9224h Low
3,350.0024h Volume
758,546 ETHUS Personal Income and Outlays
Bureau of Economic Analysis
27th November, 2024, 10:00AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 3525.27 | 3526.90 | 3520.50 | 3520.50 | -0.14% | 0.18% | 415 ETH |
| During | 3520.51 | 3522.71 | 3518.14 | 3518.15 | -0.07% | 0.13% | 427 ETH |
| 5 Minutes | |||||||
| Before | 3524.00 | 3528.80 | 3520.50 | 3520.50 | -0.10% | 0.24% | 2,803 ETH |
| During | 3520.51 | 3524.00 | 3517.60 | 3520.51 | 0.00% | 0.18% | 2,116 ETH |
| 10 Minutes | |||||||
| Before | 3521.26 | 3528.80 | 3514.10 | 3520.50 | -0.02% | 0.42% | 5,343 ETH |
| During | 3520.51 | 3532.44 | 3517.60 | 3526.00 | 0.16% | 0.42% | 5,437 ETH |
| 15 Minutes | |||||||
| Before | 3514.57 | 3528.80 | 3510.58 | 3520.50 | 0.17% | 0.52% | 11,710 ETH |
| During | 3520.51 | 3536.38 | 3517.60 | 3535.90 | 0.44% | 0.53% | 10,018 ETH |
| 30 Minutes | |||||||
| Before | 3489.59 | 3528.80 | 3482.02 | 3520.50 | 0.88% | 1.33% | 38,133 ETH |
| During | 3520.51 | 3543.33 | 3517.60 | 3542.23 | 0.61% | 0.73% | 23,828 ETH |
| 1 Hour | |||||||
| Before | 3504.99 | 3528.80 | 3468.11 | 3520.50 | 0.44% | 1.72% | 69,083 ETH |
| During | 3520.51 | 3573.17 | 3517.60 | 3552.79 | 0.91% | 1.56% | 66,339 ETH |
| 2 Hours | |||||||
| Before | 3478.00 | 3528.80 | 3468.11 | 3520.50 | 1.21% | 1.72% | 102,671 ETH |
| During | 3520.51 | 3574.89 | 3517.60 | 3557.89 | 1.05% | 1.60% | 108,084 ETH |
| 4 Hours | |||||||
| Before | 3455.50 | 3528.80 | 3434.83 | 3520.50 | 1.85% | 2.66% | 143,244 ETH |
| During | 3520.51 | 3593.73 | 3517.60 | 3586.19 | 1.83% | 2.12% | 160,054 ETH |
| 6 Hours | |||||||
| Before | 3421.98 | 3528.80 | 3402.43 | 3520.50 | 2.80% | 3.58% | 200,909 ETH |
| During | 3520.51 | 3630.00 | 3517.60 | 3623.99 | 2.86% | 3.10% | 230,531 ETH |
| 8 Hours | |||||||
| Before | 3364.77 | 3485.50 | 3350.00 | 3455.49 | 2.63% | 3.89% | 227,514 ETH |
| During | 3455.50 | 3593.73 | 3434.83 | 3586.19 | 3.64% | 4.42% | 303,299 ETH |
| 12 Hours | |||||||
| Before | 3364.77 | 3528.80 | 3350.00 | 3520.50 | 4.42% | 5.07% | 370,758 ETH |
| During | 3520.51 | 3684.92 | 3517.60 | 3621.49 | 2.79% | 4.54% | 387,789 ETH |
