Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 6th July, 2023 has come in at an increase to -$65.8B for May 2023. Compared to the previous release for April 2023 at -$71.1B, we can see that foreign trade has decreased but at a slower rate month over month.
To see the impact and volatility of ETH's price during the Balance of Trade release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.
4-Hours Chart Analysis
In the period prior to the release, the trading volume was 127,336 ETH with prices swinging between 1,904.09 and 1,958.00, representing a swing of 2.75%. Subsequently, the trading volume increased by 21% to 153,577 ETH. Price action ranged from a low of 1,865.08 to a high of 1,907.24, a difference of 2.21%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 10,175 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 1,904.33 to a high of 1,910.33, a 0.31% change. Immediately following, trading volume increased significantly by 122% to 22,591 ETH. At this time, Ethereum hit a low of 1,890.34 with a high of 1,906.00, a significant change of 0.82%.
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
1,912.30Close
1,840.1824h Change
-72.12 (-3.92%)24h High
1,958.0024h Low
1,826.0024h Volume
485,947 ETHUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
6th July, 2023, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 1904.40 | 1906.10 | 1904.39 | 1905.67 | 0.07% | 0.09% | 437 ETH |
| During | 1905.68 | 1906.00 | 1904.09 | 1905.78 | 0.01% | 0.10% | 843 ETH |
| 5 Minutes | |||||||
| Before | 1909.87 | 1910.06 | 1904.33 | 1905.67 | -0.22% | 0.30% | 3,810 ETH |
| During | 1905.68 | 1906.00 | 1892.70 | 1893.86 | -0.62% | 0.70% | 14,527 ETH |
| 10 Minutes | |||||||
| Before | 1910.00 | 1910.06 | 1904.33 | 1905.67 | -0.23% | 0.30% | 7,251 ETH |
| During | 1905.68 | 1906.00 | 1890.34 | 1899.61 | -0.32% | 0.82% | 19,504 ETH |
| 15 Minutes | |||||||
| Before | 1909.42 | 1910.33 | 1904.33 | 1905.67 | -0.20% | 0.31% | 10,175 ETH |
| During | 1905.68 | 1906.00 | 1890.34 | 1897.59 | -0.43% | 0.82% | 22,591 ETH |
| 30 Minutes | |||||||
| Before | 1917.66 | 1919.37 | 1904.09 | 1905.67 | -0.63% | 0.80% | 25,936 ETH |
| During | 1905.68 | 1906.00 | 1890.34 | 1901.10 | -0.24% | 0.82% | 30,774 ETH |
| 1 Hour | |||||||
| Before | 1939.51 | 1940.67 | 1904.09 | 1905.67 | -1.78% | 1.88% | 51,722 ETH |
| During | 1905.68 | 1907.24 | 1890.34 | 1904.56 | -0.06% | 0.89% | 39,160 ETH |
| 2 Hours | |||||||
| Before | 1938.63 | 1945.19 | 1904.09 | 1905.67 | -1.73% | 2.11% | 63,890 ETH |
| During | 1905.68 | 1907.24 | 1867.70 | 1870.97 | -1.86% | 2.07% | 91,803 ETH |
| 4 Hours | |||||||
| Before | 1925.50 | 1958.00 | 1904.09 | 1905.67 | -1.04% | 2.75% | 127,336 ETH |
| During | 1905.68 | 1907.24 | 1865.08 | 1884.39 | -1.13% | 2.21% | 153,577 ETH |
| 6 Hours | |||||||
| Before | 1922.56 | 1958.00 | 1904.09 | 1905.67 | -0.89% | 2.75% | 149,188 ETH |
| During | 1905.68 | 1907.24 | 1865.08 | 1887.23 | -0.98% | 2.21% | 171,468 ETH |
| 8 Hours | |||||||
| Before | 1912.30 | 1930.00 | 1898.80 | 1925.51 | 0.69% | 1.62% | 75,548 ETH |
| During | 1925.50 | 1958.00 | 1865.08 | 1884.39 | -2.18% | 4.75% | 280,913 ETH |
| 12 Hours | |||||||
| Before | 1912.30 | 1958.00 | 1898.80 | 1905.67 | -0.35% | 3.02% | 202,884 ETH |
| During | 1905.68 | 1907.24 | 1826.00 | 1840.18 | -3.56% | 4.26% | 283,063 ETH |
