2024-05-22 Barbados Dollar News
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2024-05-21
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
Looking at the dataset, it is apparent that the exchange rates have shown a slight upward trend over time. This suggests that the value of the currency being analyzed is gradually increasing. However, the rate of increase is not drastically high; it appears to be increasing at a slow and gradual pace. Thus, the trend can be categorized as a steady incline in the exchange rates.
Seasonality Pattern Detection
It is not entirely clear from the dataset if there are any strong seasonal patterns in the exchange rates. However, a more in-depth time series analysis that decomposes the data into trend, seasonality, and residuals could potentially reveal such patterns. It will be prudent to adopt daily, weekly and monthly seasonality analysis to pinpoint possible recurring exchange rate patterns.
Outliers and Anomalies
There do not appear to be any significant outliers in the dataset. The exchange rates do not drastically fluctuate to a degree that exceeds expectation based on the overall trend and assumed seasonality. However, a more in-depth statistical analysis of the time series data using outlier detection methods (like Z-scores or the IQR method) would help ascertain if any subtle outliers were missed during this preliminary analysis.
Note:
The above analysis based on pure numerical observation of the time-series data on exchange rates does not take into account external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Consideration of these factors would require a more complex model that incorporates these events/player's behavior.
![Unprecedented Fluctuations in BBD Exchange Rates Witnessed Over 24 Hours](http://currencymart.net/images/news/barbados-dollar/2024-05-22/img-uHawhjtOo95FXVwmESXGQmuX.webp)