ETH Volatility Analysis for Non-Farm Payrolls, 6th November 2020

Data Analysis

The data released by Bureau of Labor Statistics for Non-Farm Payrolls on 6th November, 2020 has come in at a decrease to 691K for October 2020. Compared to the previous release for September 2020 at 951K, we can see that labour market is still increasing but slowed month over month.

To see the impact and volatility of ETH's price during the Non-Farm Payrolls 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 339,318 ETH with prices swinging between 427.21 and 446.58, representing a swing of 4.34%. Subsequently, the trading volume decreased by 22% to 264,521 ETH. Price action ranged from a low of 430.14 to a high of 446.37, a difference of 3.64%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 14,009 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 442.17 to a high of 444.39, a 0.50% change. Immediately following, trading volume decreased by 6% to 13,159 ETH. At this time, Ethereum hit a low of 442.53 with a high of 445.37, a change of 0.64%.

About Non-Farm Payrolls

Nonfarm payrolls is the measure of the number of workers in the U.S. excluding farm workers and workers in a handful of other job classifications. This is measured by the Bureau of Labor Statistics (BLS), which surveys private and government entities throughout the U.S. about their payrolls. The BLS reports the nonfarm payroll numbers to the public on a monthly basis through the closely followed “Employment Situation” report.