2024-05-21 Azerbaijanian Manat News

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Follow Azerbaijanian Manat Forecast May 21, 2024
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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

Analysis of the AZN Exchange Rate Time Series Data

The given dataset is a time series one capturing the exchange rate of the Azerbaijani Manat (AZN) at different timestamps. The following are the key observations from the data:

1. Overall Trend of the Exchange Rates

The detailed analysis of the data indicates that the exchange rates exhibited a volatile trend during the captured period. This means that there was no strong pattern of increase, decrease, or stability noticed in the exchange rates. Some intervals showed an increase in the exchange rate, whereas others showed a decrease. So, it is fair to say the rates varied over the period shown.

2. Seasonality or Recurring Patterns in Exchange Rates

In terms of seasonality or recurring patterns, from this dataset alone, there does not appear to be a clear trend worth noteworthy. However, a more detailed analysis involving more sophisticated statistical techniques or larger datasets might reveal patterns that are not immediately visible from a preliminary analysis.

3. Outliers in the Exchange Rates

There are a few data points where a significant spike or drop in the exchange rates has been observed. These can be considered as outliers since their values lie deviated from the generally expected trends in the data. However, foreign exchange markets are highly volatile, and these fluctuations could be influenced by a variety of factors such as geopolitical events, market speculation, or significant economic news announcements.

In conclusion, the AZN exchange rate data reflects the typically volatile nature of currency markets. It does not show clear, consistent trends, seasonality, or patterns. While there are fluctuations and possible outliers, these are normal characteristics of foreign exchange data.

d throughout the day The foreign exchange market during the entire course of May 20, 2024 witnessed aggressive fluctuations in the AZN exchange rate. The currency was volatile across the board, marking ample trading opportunities for the foreign exchange participants. The data provided above shows a close-knit intraday analysis of the AZN exchange rates at different times of the day. It started at 0.79634 at the stroke of midnight and ended the day slightly higher at 0.80330 by 11:55 PM, illustrating a mild uptick in the currency valuation. The notable event was a sudden surge in rate from 0.79867 to 0.82541 within five minutes starting from 08:00 AM which represents a strong breakout. However, the currency couldn’t sustain the higher levels and returned to 0.80326 in the next ten minutes by 08:10 AM. Such extreme volatility within a short span of time indicates the presence of some significant economic event. The lowest level of the day was observed at 3 AM when the AZN emailed down to 0.78365, a 0.01269 point drop from the opening rate, before the currency gradually picked up. Over the day, despite some periods of stability, the relative volatility was significant. The AZN exchange rate fluctuated due to a myriad of factors during the day that included changing macroeconomic indicators, foreign investment inflow, export-import figures, geopolitical events and strength of other currencies. The intraday volatility, especially the sharp rise and then a swift drop in the morning, reflects the dynamic nature of the forex market. Looking forward, this spirited performance and notable volatility in the exchange rate of the AZN have got the analysts mulling over. They opine that this can lead to enormous opportunities for those who practice intraday trading or high-frequency trading. They suggest keeping an eye on important economic indicators and news that might influence the currency''s value. However, they also caution forex participants to be prepared for unanticipated swings and have urged traders to be cautious during their investing processes. The unpredictability of financial markets necessitates a continual review of market and economic indicators, as well as a close watch on domestic and global events. Ends Remarkable buoyancy in the exchange rate of AZN detected throughout the day

Current Middle Market Exchange Rate

For information purposes only. 



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