Summary of Last Week
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
- Standard Deviation:
Let's begin the analysis of the dataset you have provided and address each of your goals.
1. Understanding the overall trend of the exchange rates
From a preliminary review of the time series data, the exchange rates of XOF over the given period remain fairly stable. Most of the exchange rates range from 0.00220 to 0.00224. Occasionally, the rate increases to 0.00224 or decreases to 0.00220, implying a stability in exchange rates with slight fluctuations. However, a more comprehensive analysis with a graphical representation would be beneficial in understanding the currency trends over time.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates.
Given the dataset, it's difficult to identify any obvious pattern or seasonality of exchange rates. The value appears to fluctuate within a small range (0.00220 - 0.00224) over the specified timeframe. With the addition of graphical methods or a deeper statistical analysis method such as autocorrelation, the identification of seasonal patterns might be more precise.
3. Noting any outliers or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality.
Within the current dataset, significant outliers do not appear to exist. The exchange rate does not exhibit drastic fluctuations, but rather remains within the compact range of 0.00220 to 0.00224, indicating a low volatility. Thus, in this dataset, there are no apparent instances where the exchange rate differs significantly from its usual fluctuations.
Please note, this analysis is based solely on the dataset provided and does not take into account any possible external influencing factors such as economic events, market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Furthermore, as per the request, no future forecasts for the exchange rates were generated.