Norwegian Krone Forecast

Not for Invesment, Informational Purposes Only

Summary of Yesterday

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Statistical Measures

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Trend

Overall Trend Analysis

After analyzing the dataset provided, the NOK exchange rate shows a very slight increase over the given period. The rate at the start of the timestamp (0.12471) is slightly lower than the rate at the end (0.12448). However, the change is very minimal, suggesting a relatively stable rate throughout the period.

Seasonality and Recurring Patterns

Upon examining the data for any seasonality or recurring patterns, the NOK exchange rate does not present very clear repetitive patterns, implying that the rate is more influenced by other factors rather than cyclical time trends. However, due to the stability of the rates throughout the timeline, we may assume a minimal periodic fluctuation.

Outliers Identification

Outliers in the dataset can be significant instances where the rate significantly deviates from the usual. One such instance in the dataset is the sudden rise to 0.12518 and immediate drop to 0.12491 on '2024-04-25 07:30:04' and '2024-04-25 07:35:03' respectively. Another is the drop to 0.12446 at '2024-04-25 08:15:02', followed by a sharp increase. However, these outliers do not drastically affect the overriding stability.

It's essential to note that the identification of these outliers doesn't take into consideration external factors like market news or key financial report releases which might explain these sudden fluctuations.

Conclusion

In conclusion, the NOK exchange rates over the provided timestamp have mainly remained stable, with a very slight general increase. There are minimal signs of seasonal influence, with slight fluctuations present throughout the period. A few outliers were identified, but they did not significantly impact the overall trend.

Summary of Yesterday

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Statistical Measures

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Trend

1. Understanding the Overall Trend of Exchange Rates

From the beginning of the period at 2024-04-24 00:00:02 to the end at 2024-04-24 23:55:02, the overall trend of the exchange rates exhibits a slight decrease. The exchange rate begins at around 0.12545 and ends at nearly 0.12472. This indicates a sustained albeit slow deflation in the value of the currency throughout the referenced period.

2. Identifying Seasonality and Recurring Patterns

As the data provided spans a single day, it is challenging to deduce any meaningful annual, quarterly, or monthly seasonality. However, some hourly patterns are noted. There is a tendency for the rate to slightly decrease around every 0th and 30th minute of each hour, followed by an increase. This cycle repeats nearly every hour throughout the day, from the morning to midnight, indicating a probable intraday seasonality.

3. Noting Any Outliers

Throughout the data, there are few distinct outliers or unexpected spikes/drops in exchange rates. The fluctuations appear to be relatively uniform, indicating a balanced and steady market within this particular timeframe. However, minor yet noticeable anomalies occur around these timestamps: 2024-04-24 00:35:02 and 2024-04-24 07:40:03, where the exchange rate drops slightly more than the usual hourly fluctuations. Further analysis may be required to validate these potential outliers.

Disclaimer: Kindly note that such trends and patterns are subjective to the day and may change under the influence of different variables not accounted for in this analysis, like economic news, political events, or a larger timeframe.

Summary of Yesterday

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Statistical Measures

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Trend

1. Understanding the Overall Trend of Exchange Rates

The overall trend of the NOK exchange rate, as reflected in the dataset, appears to be relatively stable with minor fluctuations throughout a given day. The data indicated a beginning value of 0.12473 at the first timestamp (2024-04-23 00:00:02), and it closed at a similar level of 0.12545 at the last timestamp (2024-04-23 23:55:02). This suggests that there is not a significant upward or downward trend within the range of 24 hours, and the rate generally fluctuates within a relatively narrow band.

2. Identifying Seasonality and Recurring Patterns

In terms of seasonality, time series data usually require an annual or multi-year data to identify clear recurring seasonal patterns. However, within the given single day's hourly data, no discernible mark of seasonality can be accurately detected. The data tends to oscillate with quite regular amplitude without solid evidence of any seasonal effect. Considering its foreign exchange data nature, intraday seasonalities might be harder to discover within the exchange rates as they are more likely to be influenced by the international news, economical indicators release, market sentiment and liquidity conditions rather than traditional seasonality factors.

3. Noting Any Outliers

Looking at the timeseries data, it's difficult to identify any clear outliers from the summary statistics alone. There were few instances where the rates spike briefly such as at around 19:10:03 (0.12535), 17:55:03, 15:55:03 (both at 0.12529), 21:10:02 and 21:15:02 (both at 0.1255). However, these spikes seem to be followed by an immediate reversion to regular levels, suggesting these might be due to transient factors such as temporary periods of low liquidity or high volatility in the market. In conclusion, no significant outliers were observed, as the values did not deviate extensively from the general spread of the data.

Summary of Last Month

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Trend

Analysing NOK Exchange Rate with Time Series Data

Understanding the overall trend of the exchange rates

Observing the overall trend of the exchange rates over the provided period, we can see that the rates seem to fluctuate within a narrow band, varying from a low of approximately 0.12428 to a high of approximately 0.12489. However, it appears that there's minimal overall change in the rates. For instance, the rate starts off at 0.12463 and ends at around 0.12471, showing very slight incline over time. Slight ups and downs can be noticed in between, but the general trend seems to be hovering around a central value.

Identifying Seasonality or Recurring Patterns

As for recurring patterns or seasonality, it's a bit difficult to discern any clear patterns from the provided data without functional graphs. While there are some periods where the rates appear to increase or decrease more dramatically, these periods do not seem to occur at consistent intervals that would suggest a clear recurring pattern or seasonality. This could suggest that factors other than the time of day or week are driving these rate changes. More data or a longer timeframe might allow for clearer pattern or seasonality identification.

Noting Outliers

There are very few instances that could be described as outliers within this dataset. However, these few instances do not deviate significantly from the general range of exchange rate values: the lowest rate achieved is about 0.12428, and the highest is about 0.12489. Thus, in this dataset, it seems that there are very few instances of unusual or unexpected exchange rates. The outliers are minimal and do not have a significant impact on the overall trend.

Summary of Last Week

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Data Analysis

To address your needs, I have conducted a comprehensive analysis of the data. Please note, this analysis doesn't account for specific events or consider external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports.

1. Overall Trend

Based on the provided data, it appears that the NOK exchange rate has been experiencing minor fluctuations within a certain range over the given period. The movement of the exchange rate is oscillating, but it is difficult to identify a definitive increasing or decreasing trend over this duration. It seems like the rate is experiencing periods of both upward and downward adjustment but remains relatively stable.

2. Seasonality or Recurring Patterns

Just through a brief look at the data, it is not immediately clear if there are any seasonal or recurring patterns in the NOK exchange rate changes. The data seems to exhibit more random fluctuations than clear cyclical patterns. However, a deeper analysis with additional statistical tools may be useful to further confirm or deny the presence of seasonality or recurring patterns.

3. Outliers

Outliers in financial data are either spikes or drops in exchange rates. In terms of outliers within this dataset, no significant spikes or troughs that can be identified as outliers are apparent. The rates seem to be moving fairly steadily within a limited range, with no prominent or sudden drastic changes. However, the identification of outliers would require a more comprehensive statistical analysis, considering such things like deviations from a determined mean or median value.

It's essential to note the data analysis is only as good as the data provided. If there are errors in transcription or measurement, these should be corrected for an accurate analysis. Likewise, this is a relatively cursory examination. A deeper examination using statistical tools would provide more definitive and comprehensive insights.

Summary of Yesterday

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Statistical Measures

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Trend

Understanding the overall trend of the exchange rates

Upon analyzing your dataset, it appears that the overall trend of the NOK exchange rate during the provided date and time range is slightly decreasing. This trend is inferred from the first timestamp on April 15, 2024 where it was 0.12642 and gradually, though not steadily, decreased to 0.12469 by the end of April 19, 2024. However, it is worth noting that numerous fluctuations happened throughout which signifies the volatility of financial markets. These fluctuations will be taken into consideration when studying possible patterns in this time-series data.

Identifying seasonality or recurring patterns

Given the nature of financial data, it's not uncommon to note some degree of seasonality or recurring patterns. In your dataset, there appears to be no clearly distinguishable hourly pattern. However, the data shows some small fluctuations around certain hours that may suggest the presence of small-scale daily trends. An in-depth or a more granular analysis might be necessary to identify minute patterns, if present.

Outliers in the exchange rates

The data provided does not have any obvious outliers. Being relatively evenly distributed, the fluctuations fall within an expected range. Can be considered normal for exchange rates due to the nature of the forex market. However, consistently monitoring the data over time, particularly in response to certain events that affect the foreign exchange market, such as changes in economic indicators, would provide a better understanding of any unusual spikes or drops.

In conclusion, your data shows a slight decreasing trend in the NOK exchange rate over the period displayed from 15th April to 19th April 2024 despite the numerous fluctuations. Although identifying sharp outliers or a clearly-defined recurring pattern is challenging based on this dataset alone, such nuanced information oftentimes asks for more detailed investigations.

Summary of Yesterday

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Statistical Measures

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Trend

1. Understanding the Overall Trend

From the provided dataset, the overall trend of the NOK exchange rate seems to have slight fluctuations but remains mostly stable. The rate starts at 0.12453 at the beginning of the provided timestamp and ends at 0.12475, showing a negligible increase. However, throughout the date (2024-04-19), the exchange rate fluctuates within a relatively narrow band (approx. between 0.1244 and 0.1249), suggesting temporary periods of both rising and falling rates.

2. Identifying Any Seasonality or Recurring Patterns

Due to the short time frame (a single day's data), it is difficult to determine any firm seasonality or recurring patterns in these exchange rate changes. There could be some intraday patterns, such as volatility increasing or decreasing at certain times, however, these intraday patterns require a more detailed analysis or a larger dataset that spans multiple days for more confident assertions. So it's important to bear in mind that these preliminary findings might not hold with a larger or different dataset.

3. Noting Any Outliers

In this dataset, considering that the range of values is between approx. 0.1244 and 0.1249, all values fall within that spectrum, and no major outliers are present. Importantly, 'outliers' are often dependent on the specific metrics or criteria used to define them, and thus the absence of outliers in this analysis is based on an immediate observational review of the given data.

Lastly, an important reminder: this is a rather basic and surface-level analysis, and more complex techniques, such as time series decomposition or statistical tests for trend and seasonality, could reveal additional insights when applied to a larger and more detailed dataset.

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