Guyana Dollar Forecast

Not for Invesment, Informational Purposes Only

Summary of Yesterday

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Statistical Measures

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  • Trend

    1. Understanding the overall trend of the exchange rates

    After a detailed analysis of these data, it is apparent that the general trend of the GYD exchange rates mostly remains stable for a considerable duration. This consistency in rates is then followed by minor decreases, as indicated by the decrease from 0.0065 to 0.00648. The rate then has minor fluctuations, but akin to the initial trend, it ultimately stabilizes around 0.00648.

    2. Identifying any seasonality or recurring patterns in the changes of exchange rates

    Analyses indicate no apparent seasonality or recurring patterns in the GYD exchange rates within the data provided. As mentioned above, the data mainly demonstrates a steady rate, followed by a minor decrease and then stabilization again. This pattern of stability-decrease-stability indicates no clear cyclical or recurring pattern over the specific time frame provided.

    3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality

    Upon review, no significant outliers could be identified in the data. The change in GYD exchange rates tends not to fluctuate drastically, rather, there is a gradual decrease from 0.00650 to 0.00648 following a period of stability. This decrease does not represent a significant deviation from the existing trend, thereby it could not be classified as an outlier.

Summary of Yesterday

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  • Difference of Opening & Closing:
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  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

    Overall trend

    Based on the provided dataset, the exchange rate of GYD appears to be generally stable over the timeframe given. The rate began at 0.00646 on the 28th of February, 2024 and ended at the same value by the end of the day. It experienced slight fluctuations, reaching a peak of 0.0065, but these changes were minimal and did not suggest a significant upward or downward trend.

    Seasonality and recurring patterns

    Despite the overall stability of the exchange rate, there appears to be a pattern of small increases during specific points in the day. For example, at around 06:35 and 18:35, an uptick in the exchange rate can be observed, increasing from 0.00649 to 0.0065. This recurrence might suggest an element of seasonality in the exchange rates. Further analysis on a larger dataset would solidify such findings. However, the rise and fall in the exchange rates does not seem to be significant, keeping within a tight range.

    Outliers

    From a quick analysis of the dataset, there do not appear to be any major outliers within the given timeframe. The exchange rate remained consistent, with only minute fluctuations throughout that did not deviate significantly from the observed range. The exchange rate was at its highest (0.0065) and lowest (0.00646) several times throughout the day but did not breach these values.

Summary of Yesterday

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  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

Summary of Last Month

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Statistical Measures

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  • Trend

    Analysis of the Exchange Rate Data

    The dataset contains time-stamped data of the exchange rates of a specific currency, the GYD currency, over a period of time.

    1. Overall trend of the exchange rates

    As per the data points provided, the exchange rates predominantly remain consistent at a value of 0.00646. A slight increase is noticed at some times, where the rate goes up to 0.00647, but it soon reverts back to the original consistent rate. The GYD currency thus generally shows a stable trend as per the dataset.

    2. Seasonality or recurring patterns

    Concerning seasonality or recurring patterns, there appears to be no clear repetitive pattern in the changes of exchange rates based on the given data. The slight rise from 0.00646 to 0.00647 does not seem to be linked to a specific time of the day and is seen occurring at various timestamps. Therefore, from the data provided, there is noticeably no discernable pattern of exchange rates tied to particular points in time.

    3. Outliers

    There are two instances where the exchange rate varies slightly from the usual rate of 0.00646: firstly, at certain points it increased to 0.00647, and secondly, it decreased to 0.00645 on a few instances. Other than these, no significant outliers or unexpected values in the exchange rate can be observed from the given dataset.

    It is also noteworthy that these small fluctuations, although differing from the predominant rate, are not extreme or unexpected in a real-time financial scenario, given the ever-changing nature of exchange rates.

    To conclude, the current data gives us a picture of stable exchange rates with minor fluctuations without an obvious pattern tied to the timestamps.

Summary of Last Week

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Statistical Measures

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  • Standard Deviation:
  • Trend

    Based on the time-series data provided, let's analyze the overall trend, possible seasonality, and potential outliers in the GYD exchange rates over the given period.

    Understanding the Overall Trend

    Upon inspection of the dataset, we can observe some fluctuations in the exchange rate values, but overall, the rates appear largely stable. The exchange rates range between 0.00638 and 0.00649, with some slight fluctuations that don't point to a stable increasing or decreasing trend. The average exchange rate also remains relatively stable at around the same range. Therefore, it seems reasonable to conclude that the data shows a generally stable GYD exchange rate trend over the observed period of time.

    Identifying Seasonality

    Due to the high frequency of the time-series data (around every 2-hours), it's difficult to identify clear seasonality without performing in-depth statistical analysis. However, from a high-level analysis, there does not appear to be any clear recurring patterns or seasonality in the exchange rates. Any minor fluctuations appear to happen randomly rather than at consistent intervals. We need to conduct a more detailed analysis, such as spectral analysis or autocorrelation function, to confirm this observation.

    Noting Any Outliers

    At a glance, there don't appear to be significant outliers in the dataset. The exchange rates remain within a relatively narrow band and show slight fluctuations. Any potential outliers would need to be identified using more sophisticated statistical techniques, such as the Z-score or the Interquartile Range (IQR) methods. However, for the purpose of this high-level analysis, there are no clearly identifiable outliers within this data.

    Please note that this analysis is based purely on the provided dataset and does not take into account any external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports. A more in-depth analysis that considers such factors would likely provide more insight into the trends, seasonality, and outliers observed.

Summary of Yesterday

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

    Overall Trend Analysis

    The overall trend of the exchange rates in the data provided appears to be relatively stable. From the start of the dataset on 2024-02-19 to the end of the dataset on 2024-02-23, there is only a slight fluctuation in the exchange rate values presented. The range of the exchange rate spans from a minimum of 0.00642 to a maximum of 0.00648. These values indicate a relatively stable trend.

    Identifying Seasonality and Recurring Patterns

    Given the limited timeframe of the data set, it is challenging to definitively identify any seasonality, as this refers to patterns that recur over longer periods. However, the data do show variations within each day, suggesting intraday patterns in exchange rate changes. More data would be needed to determine if these patterns recur regularly.

    Note on Outliers

    An analysis of the provided data does not indicate any significant outliers. The exchange rates throughout the period shown remain within a narrow range and there are no instances where the exchange rate deviates significantly from the overall trend. This could indicate a period of relative stability in the exchange rate.

    Possible External Factors

    As requested, this analysis does not consider specific external events such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Nonetheless, these factors can often have a significant impact on exchange rates and may contribute to the patterns observed.

    Conclusion

    In conclusion, the exchange rates in this dataset demonstrate a stable trend over the given timeframe, with variations within each day suggesting possible intraday patterns. Additional data and further analysis would enable a more comprehensive understanding of the dynamics at play.

Summary of Yesterday

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

    1. Understanding the overall trend of the exchange rates:

    The overall trend of the exchange rates is relatively stable throughout the dataset. The values start from 0.00642 GYD and make a slight increase towards the end, reaching a highest value of 0.00646 GYD. However, the changes are minimal and happen slowly over time, indicating that there is not a significant upward or downward trend in exchange rates in the given period.

    2. Identifying any seasonality or recurring patterns:

    Given the dataset and considering the complexity of the foreign exchange market dynamics, it is difficult to identify any clear recurring patterns or seasonality in these exchange rates within this short timeframe. The data remains mostly stable and changes slightly, which suggests no apparent seasonality. A longer time series data might be required to correctly detect the seasonality if it exists.

    3. Noting any outliers:

    Based on the data provided, there are no obvious outliers present. The exchange rates do not exhibit any significant deviations from the observable range (0.00642 - .00646) which suggests that the market is relatively stable within the period mentioned in the dataset.