What is the absolute volocity of the earth and does is effect the eliptical orbit of the planet?

Answer 1

The Earth has no absolute velocity. Velocity is a relative measurment.
For example:
The Earth is traveling about 33,400mph (not exact) around the Sun.
The Sun is also traveling around the center of the Milky Way Galaxy at roughly 672,800mph.
If you tried to measure the speed of the Earth from the center of the Milky Way the Earth would appear to speed up and slow down as it revolves around the Sun.
Guess what else????
The Milky Way Galaxy itself is traveling quite rapidly through space. But I won't go there.

So, hopefully you can see that there really is no way to state the Earth's absolute velocity.

Have fun exploring Astronomy and the Universe.

Answer 2

The sun and all it's system members are in motion. The Solar system is traveling at a speed of about 26 kilometers per second.(1)
The Earth is traveling at about 30 kilometers per second in its orbit around the sun. (2)
When the Earth is traveling in the same direction as the Solar System it reaches a speed of about 56 kilometers per second relative to the space the Solar System is traveling through. When the Earth is traveling in the opposite direction relative to the space the Solar System is traveling through, its speed is negative 4 kilometers per second. It is still in orbit around the sun and moving at 30 kps relative to the sun.
The Earth's orbit is a function of its speed relative to the total gravity well of the solar system.