2024-05-03 Baht News
2024-05-02
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis of the THB Exchange Rate Time Series Data
The data provided contains timestamped observations of THB exchange rates spanning across a period of time. A comprehensive analysis of this data is as follows.
Overall trend of the exchange rates
The overall trend of the THB exchange rates appears to be relatively stable. The rates fluctuating between 0.03708 and 0.03720. However, there is a minor downtrend observed as the exchange rate records a slight decrease towards the latter part of the time period. It is important to note that this analysis doesn't suggest a significant depreciation of the THB over the period under review, but a rather minor fluctuation which could be attributed to usual market dynamics.
Seasonality and recurring patterns
From the dataset provided, it is difficult to assert any distinct seasonality or recurring patterns in the changes of exchange rates. This might be due to the limited duration of the data, and the absence of a longer time series that might span across different seasons of a year or different years. Generally, noticeable seasonality in exchange rates could be associated with more comprehensive datasets. It is also important to note that exchange rates are influenced by a plethora of variables, many of which are random and unpredictable, and this can often blur potential recurrent patterns.
Outliers
Looking at the data, there doesn't seem to be any significant outliers or instances where the exchange rate differs considerably from the average rates recorded. The difference among the maximum and the minimum exchange rate is quite small, which implies the absence of extreme fluctuations in the exchange rates. This suggests a stable exchange rate environment during the period represented by the data.
Recommendations
Forecasts for future rates are not within the scope of this analysis as per the requirements. However, for making any strategic decision, this trend analysis should be used in conjunction with other market indicators. Furthermore, significant events impacting the economy should also be factored in as they may result in swings in the forex rates.
Note that this analysis has been performed without considering specific external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports, which can significantly impact currency exchange rates.
Conclusion
In conclusion, the exchange rate of THB over the given period reveals a minor downtrend but largely appears to be stable with no significant outliers. The dataset does not reveal any clear patterns of seasonality or recurring patterns.
