Steady AFN Exchange Rate A Sign of Market Stability
2024-03-11
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 the Exchange Rates
Upon examination of the provided AFN exchange rates, it appears that the rates fluctuate within a narrow range of 0.0186 to 0.01898 over the period from 2024-03-11 00:00:02 to 2024-03-11 23:55:02. While there's a minor shift in the value, the change is not enough to constitute a significant increase or decrease. Hence, we can characterize the overall trend as relatively stable.
2. Identifying Seasonality or Recurring Patterns in Exchange Rates
Time series data, such as this one, are typically expected to demonstrate patterns repeating over specific intervals, known as seasonality. However, the AFN exchange rate data doesn't exhibit an evident seasonality or recurring pattern over the given timespan. The rates maintain a consistent range and do not show predictable cyclical fluctuations that could indicate a pattern.
3. Noting any Outliers
Outliers are individual values that significantly differ from the rest of the dataset. In the provided data, the values mostly fluctuate within the same narrow range, and no significant deviations can be observed, indicating that there are no meaningful outliers during this time period.
4. Considering External Factors
While external factors, such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports often significantly influence exchange rates, based on the data provided, these factors do not seem to create any noticeable impact on the AFN exchange rates during the referred time period. This is possible due to the 24-hour nature of the Forex market and the economy's possible stability during this period.
5. Forecasting Future Rates
Given the stability and lack of significant outliers or seasonal patterns in the provided data, it would not be appropriate to generate a forecast for future rates in this case. More extended periods or additional pertinent factors would be required for a justified forecast.