2024-05-08 Bahamian Dollar News
2024-05-07
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend Analysis
Upon a meticulous examination of the dataset, it is noticeable that the BSD exchange rate tends to move in a fine oscillatory manner. This suggests that the rates do not decidedly increase or decrease over the period shown. Though there are minor fluctuations, the rates mostly hover within a tight range, indicating its stability. It's crucial to note, however, that this flexibility should not be mistaken as a point of profit or loss, as the slight variations may implicate significant implications in a large-scale foreign exchange context.
Seasonality or Recurring Patterns Analysis
Given the dataset, discerning any potential seasonality or recurring pattern appears to be quite challenging, mostly due to the short sequence of the time series data. Precisely, there doesn't seem to be a readily identifiable pattern that repeats at consistent intervals. This might be because foreign exchange markets are profoundly influenced by a wide array of factors ranging from economic performance and geopolitical events to market sentiment and technical analysis. These factors can frequently alter or render any seasonality or recurring patterns.
Outliers Detection
Identifying outliers within the dataset without any prior understanding or context of what comprises a significant change in the exchange rate can be challenging. However, one can consider large single-period changes in the exchange rate as potential outliers. Upon deeming such a basis, a few potential outliers do exist in the dataset provided. These outliers are instances where the exchange rate experienced a relatively large change in a concise time frame.
Please note that this analysis is purely based on the data provided and does not take into account any external factors such as market opening/closing hours, weekends/holidays, or the release of potentially impactful financial news and reports. Furthermore, this analysis does not predict or forecast any future exchange rates.
