2024-05-07 Bahamian Dollar News
2024-05-06
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
The data provided represents exchange rate chart within one day. At the beginning of the dataset, the exchange rate of BSD was at a value of 1.37174. By the end, the rate decreased to 1.36833. It suggests a minor decrease in the exchange rate value over the course of the day.
2. Identifying Seasonality in the data
Due to the nature of the data being only within a single day, identifying seasonality can be a challenge. Seasonality commonly occurs in larger datasets where the data spans over at least one full year. This allows the analysis to include monthly or quarterly fluctuations that recur every year.
However, cyclical patterns of trading within a single day could potentially be identified, but this dataset does not seem to present a consistent intra-day pattern in the exchange rates. Furthermore, foreign exchange markets are largely influenced by global events and news, which can disrupt any regular intra-day cyclical patterns.
3. Outliers in the data
In the given dataset, the presence of outliers would be represented by sharp increases or decreases in the exchange rate that are not consistent with the overall trend. Several potential outliers can be identified which suggest sharp movements in the exchange rate during a short time period. For example, the sharp drop in the exchange rate at 06:25:02 from 1.36968 to 1.36721 and the sharp increase in the exchange rate at 14:25:03 from 1.36605 to 1.36672.
It is important to note, however, that in foreign exchange markets, these outliers represent points of high volatility and are often associated with breaks in the trend, often driven by macroeconomic news/data or geopolitical events. Hence, these 'outliers' are not infrequent phenomena and are part of the market's inherent characteristics.
Overall, it is clear that the exchange rate of BSD fluctuates throughout the day. Despite the minor downward trend over this day, there can be potentially sharp changes at any time due to external factors that are extremely hard to predict from time-series data alone.
