Solomon Islands Dollar Forecast

Not for Invesment, Informational Purposes Only

Summary of Yesterday

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Statistical Measures

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    Overall Trend

    Given the data set provided, the overall trend of the SBD exchange rate for the duration (02/29/2024 00:00:02 to 02/29/2024 23:55:02) appears to be mildly fluctuating but broadly stable. We begin at an exchange rate of 0.16017 and end the day at 0.15985. This indicates a minor decrease over the hours.

    Seasonality / Recurring Patterns

    The exchange rates data does not indicate any obvious seasonality or recurring pattern over the course of this single day. So, we cannot identify a trend that repeats after a certain interval such as hourly or bi-hourly.

    Outliers

    An in-depth analysis of the dataset revealed no apparent outliers, indicating no significant difference from what would be expected based on the overall trend. All values appear to be in a very tight range, with the largest exchange rate being 0.16037 and the smallest being 0.15974. There were no values observed that significantly deviated from this range.

    External Factors

    The analysis does not consider any specific external events or factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. The goal here is to generate a simplistic view of the exchange rates trends without considering these potential influences.

    Future Forecast

    As per the request, we will not generate any forecast for future rates based on this dataset.

    In summary, the SBD exchange rate provided in the dataset over the duration appears to be mildly fluctuating and slightly decreasing. There were no outliers and no identified recurring or seasonal trends within this specific time period.

Summary of Yesterday

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Statistical Measures

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    1. Understanding the overall trend of the exchange rates.

    Based on the data provided, it seems that the SBD exchange rate shows a slight increasing trend over the specified time period. The rate starts at 0.15986 at 00:00:02 on 2024-02-28, and ends with 0.16014 at 23:55:02 on the same day. While there are several points of fluctuation throughout the day, the graphs generally move upwards, suggesting the rate slightly increases over time.

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

    In this particular dataset, it is more challenging to identify seasonality as we only have a single day's data, and seasonality in financial markets is typically observed over a much longer time period. However, smaller patterns can be observed. For instance, there seem to be slight increases in the rate during the early morning and late evening hours. However, a larger dataset would be required to confirm if these patterns hold consistently over time.

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

    There are few, if any, outliers in this dataset. The majority of rate fluctuations are relatively small, with no sudden or extreme jumps or falls in value. While the exchange rate does increase slightly over the course of the day, this change follows a relatively steady trend. Therefore, there don't appear to be any significant outliers in this dataset, assuming the trend of slight increase holds true.

Summary of Yesterday

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Statistical Measures

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Summary of Last Month

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    Overview Of The Exchange Rate Trend

    From a first overview of the data, it seems like the exchange rate (SBD) fluctuated over time, starting from 0.15894 and ending at 0.15965. The trend started to increase gradually at the beginning, with the rate reaching its peak at 0.15976, after which the values show some minor fluctuation but maintain stability relatively.

    Seasonality and Recurring Patterns

    In terms of seasonality and recurring patterns, no significant patterns or cyclical trends can be noticed based on the data provided. It appears that the exchange rate alterations are more random and sporadic rather than following a distinguishable, recurring cycle. However, further investigation using advanced time-series analysis or decomposition might provide more insights.

    Outliers Detection

    For outlier identification, more advanced statistical techniques such as Z-Score or IQR might be used, as it's difficult to point out any potential data anomalies merely by a trend overview. Nonetheless, a sudden noticeable increment in exchange rate to 0.15968 around the timestamp "2024-02-26 14:25:03" could be considered an outlier compared to previous trend stability. The increment continued to reach a peak of 0.15976 until it gradually came down.

    Please note that this is a preliminary analysis. To extract more accurate information, a more detailed analysis involving statistical methods for trend and seasonality patterns and outliers should be carried out.

    Note

    This analysis does not reflect the influence of external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Including these will likely provide a better understanding of the factors that impact the exchange rate.

Summary of Last Week

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Statistical Measures

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    1. Overall Trend of Exchange Rates

    Upon analyzing the dataset, it is evident that the exchange rates experienced both fluctuations and periods of stability during the specified period. However, considering the full dataset, we can conclude that overall, there is a soft downward trend. The exchange rate starts at around 0.15972 and ends at 0.15882, denoting a small decrease. However, the difference is not enormous, indicating that the exchange rate remained relatively stable throughout this period.

    2. Recurring Patterns and Seasonality

    Identifying seasonality or recurring patterns in the exchange rates dataset is quite challenging due to the small variations in values and the lack of a clear cycle in the fluctuations. Nevertheless, some minor cyclical variations can be interpreted as daily trends, yet there is no clear evidence of significant recurring patterns or strong seasonality in this data set.

    3. Outliers

    Regarding outliers, the dataset does not indicate any drastic fluctuations or spikes, signaling the absence of significant outliers. This is an interesting feature of the data provided, as it suggests that the exchange rate did not react dramatically to external factors over the time period analyzed.

    In conclusion, this analysis has provided insights into the overall trend in the exchange rates, absence of significant seasonality, and unusual instances. This crucial information can guide future evaluations or strategies related to exchange rates.

Summary of Yesterday

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Statistical Measures

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    1. Understanding the overall trend of the exchange rates

    The overall trend of the SBD exchange rate from 2024-02-19 to 2024-02-23 shows a gradual increase from 0.15977 to a peak of 0.16037, then a decrease to the lowest point of 0.15802, and an eventual slight rise to 0.15882. Please note that the general trend of the exchange rate over these timestamps does not indicate any significant overall increase or decrease. There seems to be slight fluctuations with the rate peaking on 2024-02-20 and hitting the lowest value on 2024-02-22.

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

    From the given timestamps, it is difficult to discern any definitive seasonality or recurring patterns in the exchange rates. The data spans only a couple of days, and exchange rate fluctuations are often heavily dependent on factors that can't be predicted from such a short span of data. While there might appear to be a daily rise and fall in the rate, this could only be considered a pattern if it can be consistently observed over a more extended period.

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

    Considering the observed trend described above, there are no significant outliers in the dataset. The most significant drop in the exchange rate occurs from 2024-02-21 09:00:03 to 2024-02-22 02:00:02, but even this deviation does not represent a drastic departure from the overall trend. This signifies that the exchange rates over the given timestamps are relatively consistent, with no unexpected spikes or drops.

    Note

    Given the scope of the data and the requirements, it's important to note that a more robust analysis would likely require a larger data set, preferably covering multiple months or years. This would allow for more reliable trend analysis and the identification of seasonality or recurring patterns.

Summary of Yesterday

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Statistical Measures

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    1. Overall Trend of Exchange Rates

    The overall trend for this dataset is relatively stable with slight fluctuations. The exchange rate starts at 0.15859 on 2024-02-23 00:00:02 and ends at 0.15884 on 2024-02-23 14:55:01. The range of changes in the dataset falls between 0.15838 and 0.15900. The slight fluctuations in the data indicate that there is a level of volatility present, but there is no consistent and substantial upward or downward trend in the exchange rates during the period under review.

    2. Seasonality in Exchange Rates Changes

    Given that the dataset provided covers roughly one day, it is challenging to identify seasonality or repeating patterns over an extended period. However, one can observe that there are shorter periods throughout the day where the exchange rate remains more stable, and other periods where the exchange rate experiences more fluctuations. This could potentially indicate some pattern or cycle occurring over the course of the day, but a longer timescale would be required to confirm any significant seasonality or recurring patterns in the data.

    3. Outliers in the Dataset

    The exchange rates' values do not fluctuate excessively, and there are no evident outliers within this dataset. The rates remain within a close range throughout the day, and any variations do not appear to deviate significantly from the expected values based on the overall trend and observed fluctuations. It is also important to note that the precision of the values (up to 5 decimal places) allows for a high degree of accuracy and sensitivity to changes, which provides more detail but may also make the variations seem more significant than they are from a broader perspective.