Iceland Krona Forecast

Not for Invesment, Informational Purposes Only

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

    Analysis of the data set indicates a general, continuous trend in the ISK exchange rates. At the onset, the rate was consistently set at 0.00985, maintaining this rate without significant fluctuation for the initial duration of the data set. This remained the case until the rate experienced a slight increase to 0.00986. This slight uptick is followed by further minute increases that cause the rate to peak at 0.00988. This peak does not last, as the exchange rate begins a process of gradual decline over the remainder of the time series to land at 0.00981 by the end of it.

    Seasonality and Recurring Patterns

    No obvious patterns of seasonality or recurring trends in the data. The minor fluctuations that do occur do not form any discernible pattern and appear to be random. Therefore, it would be more apt to say that the data demonstrates a general trend (increase, then decrease) rather than a seasonal one.

    Outliers

    In this time series dataset, there appear to be no major outliers. An outlier in this case would constitute a substantial and sudden departure from the ongoing trend, which is not observed in this data. All fluctuations within the data series are minute and don't disrupt the overall gradual upward and then downward trend of the exchange rate.

    To sum up, the ISK exchange rates data from February 28, 2020, shows a gradual increase then a decrease over the period presented. There were small fluctuations, but not significant enough to be considered as outliers. The data does not indicate any strong patterns of seasonality or cyclical changes.

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

    Understanding the Overall Trend

    Based on the given data set, we can see that the trend of exchange rate is slightly increasing during the time frame of 2024-02-28 00:00:02 to 2024-02-28 23:55:02. It started from 0.00982 and ended at 0.00985, indicating a small upward trend in the exchange rate over the period of the day.

    Identifying Any Seasonality or Recurring Patterns

    No significant seasonality or recurring pattern can be deduced from the data provided as the data points only cover a duration of a single day at 5 minute intervals. For reliable seasonality or to identify the recurring patterns, we need data stretched over multiple weeks, months or years. Importantly, the dataset would need to show variation in the time series beyond what is shown here - the exchange rates are relatively stable throughout the single day covered in this dataset.

    Noting Any Outliers

    Again, as the given dataset ranges over a time span of just day, the exchange rates seem relatively compact with no significant jumps or falls which otherwise could be the potential outliers. Therefore, there don't appear to be any abnormalities or outliers in the given dataset. The rates oscillate between 0.00982 and 0.00986 only, reflecting typical fluctuation expected within day-to-day financial exchange markets.

    Please note that even though a comprehensive analysis was performed on the data provided, this is a very short timeline for a time series financial data analysis and extending the timeline will give more accurate and insightful results.

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

Summary of Last Month

  • 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 Exchange Rates (ISK)

    The overall trend of the exchange rates (ISK) over the period appears to be relatively stable with minor fluctuations. The rate initially stayed constant at 0.00981 from the start till about 01:20:02. Then the rate gradually increased to hit a peak of 0.00986 at around 03:25:02. After this, there is a slight decline to 0.00983 by 04:20:02, however, spiked again to 0.00986 at around 03:20:03 before falling again to 0.00983 by 04:20:02. The rate then shows minor fluctuations between 0.00982 and 0.00983 for the duration of the day. The rate eventually decreases to 0.00979 around 09:45:02 and remains constant around this rate for the rest of the period. Despite these minor fluctuations, the exchange rate has remained within a range of 0.00979 to 0.00986 without any significant increase or decrease.

    2. Identifying Any Seasonality or Recurring Patterns

    Given the data provided, there does not appear to be any strong evidence of seasonality or recurring patterns in the exchange rates of ISK. The rates remain relatively stable and fluctuate only slightly throughout the course of the day. There is no significant repetitive change pattern that occurs at specific times indicating seasonality. More granular data may be required for a deeper exploration of any potential seasonal patterns.

    3. Noting Any Outliers

    Reviewing the dataset, it does not appear to contain any significant outliers in the exchange rate. The ISK exchange rate has been relatively stable over the course of the period with tight micro-variations. The range between the maximum peak and the minimum trough is extremely small, indicating that no rate in the dataset deviates substantially from the average. Even the peaks and troughs themselves aren't significantly different from the general stability of the rate throughout the period.

    In conclusion, the ISK exchange rate appeared to be quite stable throughout this given period of time with only minor fluctuations. There was no clear seasonality or trend evident in the rates, and no significant outliers were observed.

Summary of Last Week

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

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

    Overall Trend in Exchange Rates

    Looking at the above data, the exchange rates seem to fluctuate between approximately 0.0097 and 0.00986. There does not appear to be a significant long-term increase or decrease over the time span provided. The price mostly seems to be in a range which sometimes shows an upward trend, then a constant rate, and then a downward trend. This repeating pattern seems to suggest that the exchange rate is more or less stable within this time frame.

    Seasonality and Recurring Patterns

    Swings in the exchange rates are noticed but the data doesn't provide enough evidence to conclude any seasonality or recurring pattern as the fluctuations are in a tight range. There might be minute fluctuations from time to time but it would require a more granular data, including perhaps minute-by-minute or second-by-second data, to figure out any real patterns if exist.

    Significant Outliers in Data

    There does not appear to be any observations in this data set that differ significantly from the overall distribution. There are no exchange rates that are far from the others, indicating that there are likely no outliers in this data set. The exchange rate generally fluctuates within a confined range.

    In Conclusion, it is important to note that while this analysis outlines a general view of the trend, seasonality, and potential outliers in the data, further statistical analysis might be carried out for a more comprehensive understanding. It is also important to remember that exchange rates are influenced by a wide range of factors, including but not limited to economic indicators, geopolitical events, and market sentiment among traders. Such factors were not considered in this analysis as per the instruction but they play a significant role in determining the rates.

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:
  • Trend

    Analysis of the ISK Exchange Rates:

    The dataset comprises of time stamped exchange rates for the Icelandic Krona (ISK) for various time periods in the year 2024.

    Overall Trend:

    Upon reviewing the dataset, it can be seen that the overall trend of the ISK exchange rates during this period appears to be relatively stable. The rate fluctuates within a very narrow band between 0.00976 and 0.00986. There is no significant upward or downward trend observed in the given dataset. There appear to be minor fluctuations, with the rate occasionally reaching peaks of 0.00986 and 0.00982. In general, however, the rate seems to hover around the 0.00980 mark.

    Seasonality:

    Due to the short-term nature of the sample data (just a few days), it's hard to determine seasonality or recurring patterns based on this dataset alone. In general, such patterns may become evident over a longer period and may require additional factors of consideration like market trends, interest rates, and macroeconomic indicators of Iceland. While the dataset does not show pronounced hour-wise patterns, it does demonstrate minor fluctuations throughout the day.

    Outliers:

    No significant outliers are evident from the data provided. All the rates fall within a tight range without any large, abrupt movement (either upward or downward). Given the collected rates in the dataset, we can't identify any instances where the exchange rate differs significantly from the general trend observed. Therefore, on the basis of this dataset, an assumption could be made that the ISK market was stable during these periods.

    In Conclusion

    In conclusion, although the dataset provided is somewhat limited and over a fairly brief time period, it does provide an insight into the ISK exchange rates during these hours. It would be useful to collate data over a longer period to enable a more detailed analysis and to identify any longer-term trends, seasonalities, or patterns.

    Moreover, to enhance the precision of the financial analysis, it would also be beneficial to take external factors into consideration– such as market dynamics, political events, changes in interest rates, and economic indicators – notwithstanding the remit of not incorporating these factors into this specific analysis.

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. Overall Trend of the Exchange Rates

    The overall trend of the exchange rates during the period of 23rd of February 2024 is relatively stable. Data shows a minor fluctuation in the ISK exchange rate starting from 0.00981 and ends at 0.0098. Although minor increases and decreases can be observed, the overall trend remains stable.

    2. Seasonality or Recurring Patterns

    In this particular period, no clear seasonality or recurring patterns can be observed in the ISK exchange rates. The data does not show any noticeable regular pattern that recurs over this specific time frame. The fluctuations seem random rather than cyclic or seasonal.

    3. Outliers

    In terms of outliers, there is no clear outlier where the exchange rate significantly differs from the norm based on the trend. The exchange rate remains in the range of 0.0098 to 0.00986, and the variance is not significant enough to identify a clear outlier.

    Note: This analysis may be limited by the brief nature of the data set. For a more comprehensive analysis and identification of trends, patterns, and outliers, a larger dataset spanning a larger period would be beneficial.