2024-03-12 Azerbaijanian Manat News

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

Upon examining the given dataset, there doesn't appear to be a constant increase or decline in the trend. The rate fluctuates around the value of 0.805 and doesn't differ significantly from this figure throughout the given timestamps. There are certain moments of upward and downward movement, but they tend to balance each other out over time, resulting in a relatively stable trend.

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

In terms of seasonality or recurring patterns, the dataset does not exhibit clear periodic fluctuations that would signify seasonal influences or cyclical patterns, such as daily or hourly patterns. Any notable upward or downward shifts do not seem to follow a consistent temporal pattern and therefore may be more likely attributed to random variation than to a stable, predictable cycle.

3. Identifying Outliers

There is a noticeable outlier at the timestamp "2024-04-23 05:45:02" where the exchange rate drops to 0.79032, which significantly deviates from the broadly stable trend around 0.805. Another similar outlier is at "2024-04-23 05:50:02" where the value is 0.78964. Yet, in both cases, the rates return to normal levels fairly quickly, suggesting these could be random outliers rather than indicative of a broad trend.

As per your instructions, this analysis is merely an immediate examination of the provided data and does not take into account broader market trends, hours, or events like news or financial reports. Consequently, it's advised to regard these findings as preliminary and to further substantiate these with more comprehensive and detailed analyses.

arket The Azerbaijani Manat (AZN), the official currency of Azerbaijan, experienced significant volatility throughout the trading day, driving both uncertainty and opportunity in the global forex market. Monday marked an erratic and unpredictable day for the Azerbaijani Manat. The day opened with the AZN holding steady, commencing from a modest value of 0.79082. But as the day unfolded, traders witnessed uncharacteristic fluctuations, culminating in a day of significant volatility. The highest point for the day was noted at 0.82469, which was reported at approximately 9:40 a.m. Conversely, the lowest ebb was marked shortly after exchanging hands at 0.77733, just around 09:25 a.m. Encapsulating the day''s volatile movements, these two extreme points were alarmingly close together time-wise, showcasing the kind of day traders would experience as the AZN''s value oscillated wildly within a short period. Of significant note was the sudden spike to 0.82469, an unexpected and sudden shift that sent ripple effects across the market. Equally surprising was the rapid descent to 0.77733 which perplexed many seasoned traders. This unanticipated volatility underscores the capricious nature of forex markets, where currencies can, and do, fluctuate extensively within a concentrated period. Such pronounced fluctuations are known to drive traders into a frenzy, with potential profits and losses amplified depending on when and at what rate trades are executed. Glimpses of market volatility like this remind traders of the inherently risky nature of forex trading and the necessity of robust risk management strategies. Looking ahead, it remains to be seen if this market volatility will trend into a sustained period of turbulence or whether the AZN will return to a period of relative stability. Traders across the globe will undoubtedly be keeping a keen eye on the AZN and other global currencies as they navigate through the uncertain landscape presented by sudden currency fluctuations. As it stands, the magnitude of these fluctuations illustrates the need for smart and cautious trading. Traders must remain vigilant and adapt their strategies in response to the unpredictable shifts in market behavior, ready to react with agility to potentially profit from the rollercoaster-like dynamics, while simultaneously protecting their portfolios from unnecessary losses. While the reason for such drastic swings remains unclear at this time, ongoing analysis will aim to discern the cause of this market behavior. It''s a stark reminder of how unpredictable the financial world can be, even for seasoned veterans in trading. Dramatic Fluctuations Shape Trading Day for AZN Forex Market

Current Middle Market Exchange Rate

For information purposes only.