Data Analysis
The release
Released by the Bureau of Census, Bureau of Economic Analysis on 2 May 2024 at 8:30 AM EDT. The deficit narrowed to $66.3B for March 2024, from $66.4B (The International Trade Balance in Goods and Services).
It arrived at the same moment as International Imports in Goods and Services, International Exports in Goods and Services, Initial Jobless Claims and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
Measured by Clometrix
Ethereum's volatility ratio was 1.15x, against 1.25x for a typical Balance of Trade release since 2021. Its volume ratio was 1.73x, against a typical 1.41x. 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 $2,987.83 when the figure came out. Fifteen minutes later it was 0.15% higher, and an hour later 0.17% lower. Its high-to-low range in the hour after was 0.93% of its price, against 1.3% in the hour before.
What made it matter
Since 2021, Balance of Trade releases in the two weeks before a Fed decision have moved Ethereum less than those at other times: a median volatility ratio of 1.14x across 23, against 1.39x across 47. This one came out the day after the Federal Reserve's 1 May rate decision. Its own ratio of 1.15x compares with 1.39x for those, so it moved the price less than its circumstances would suggest.
About International Trade Balance in Goods and Services
The balance of trade (BOT) measures economic transactions between a nation and its trading partners, showing the difference between the value of a country's imports and exports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move in and out of the country. Economists use this information to gauge the relative strength of a country's economy. When exports are higher than imports, it tends to boost GDP. In the opposite scenario, it creates a trade deficit.
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
2,965.48Close
2,980.9524h Change
15.47 (0.52%)24h High
3,016.7224h Low
2,893.2624h Volume
362,397 ETHUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
2nd May, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 2988.80 | 2989.00 | 2987.22 | 2987.83 | -0.03% | 0.06% | 207 ETH |
| During | 2987.83 | 2992.00 | 2986.96 | 2991.71 | 0.13% | 0.17% | 436 ETH |
| 5 Minutes | |||||||
| Before | 2991.60 | 2994.21 | 2987.22 | 2987.83 | -0.13% | 0.23% | 1,587 ETH |
| During | 2987.83 | 2994.86 | 2986.96 | 2990.50 | 0.09% | 0.26% | 1,588 ETH |
| 10 Minutes | |||||||
| Before | 3009.14 | 3009.14 | 2987.22 | 2987.83 | -0.71% | 0.73% | 5,525 ETH |
| During | 2987.83 | 3000.00 | 2986.96 | 2997.30 | 0.32% | 0.43% | 3,208 ETH |
| 15 Minutes | |||||||
| Before | 3005.00 | 3013.00 | 2987.22 | 2987.83 | -0.57% | 0.86% | 9,000 ETH |
| During | 2987.83 | 3001.40 | 2986.96 | 2992.18 | 0.15% | 0.48% | 4,435 ETH |
| 30 Minutes | |||||||
| Before | 2995.54 | 3013.00 | 2987.22 | 2987.83 | -0.26% | 0.86% | 13,599 ETH |
| During | 2987.83 | 3001.40 | 2980.52 | 2982.61 | -0.18% | 0.70% | 8,817 ETH |
| 1 Hour | |||||||
| Before | 2991.24 | 3013.00 | 2974.14 | 2987.83 | -0.11% | 1.29% | 27,844 ETH |
| During | 2987.83 | 3001.40 | 2973.61 | 2982.69 | -0.17% | 0.93% | 17,297 ETH |
| 2 Hours | |||||||
| Before | 2945.95 | 3013.00 | 2937.54 | 2987.83 | 1.40% | 2.50% | 67,619 ETH |
| During | 2987.83 | 3001.40 | 2952.40 | 2974.85 | -0.44% | 1.63% | 41,060 ETH |
| 4 Hours | |||||||
| Before | 2941.90 | 3013.00 | 2934.60 | 2987.83 | 1.54% | 2.60% | 84,097 ETH |
| During | 2987.83 | 3001.45 | 2952.40 | 2994.99 | 0.24% | 1.63% | 82,338 ETH |
| 6 Hours | |||||||
| Before | 2923.59 | 3013.00 | 2910.91 | 2987.83 | 2.15% | 3.39% | 106,855 ETH |
| During | 2987.83 | 3001.45 | 2952.40 | 2980.18 | -0.26% | 1.63% | 102,060 ETH |
| 8 Hours | |||||||
| Before | 2965.48 | 2969.40 | 2893.26 | 2941.89 | -0.80% | 2.56% | 115,022 ETH |
| During | 2941.90 | 3013.00 | 2934.60 | 2994.99 | 1.77% | 2.60% | 166,435 ETH |
| 12 Hours | |||||||
| Before | 2965.48 | 3013.00 | 2893.26 | 2987.83 | 0.75% | 3.97% | 199,119 ETH |
| During | 2987.83 | 3016.72 | 2952.40 | 2980.95 | -0.23% | 2.13% | 163,278 ETH |
