ETH Volatility Analysis for Non-Farm Payrolls, 4th November 2022

Data Analysis

The data released by Bureau of Labor Statistics for Non-Farm Payrolls on 4th November, 2022 has come in at an increase to 400K for October 2022. Compared to the previous release for September 2022 at 227K, we can see that labour market is increasing 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 129,261 ETH with prices swinging between 1,567.33 and 1,600.28, representing a swing of 2.06%. Subsequently, the trading volume increased significantly by 213% to 404,075 ETH. Price action ranged from a low of 1,556.20 to a high of 1,680.00, a significant difference of 7.37%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 11,190 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 1,568.28 to a high of 1,578.88, a 0.67% change. Immediately following, trading volume increased significantly by 478% to 64,672 ETH. At this time, Ethereum hit a low of 1,556.20 with a high of 1,604.67, a significant change of 3.02%.

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.