2024-05-21 Belize Dollar News
2024-05-20
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
Overall Trend Analysis
The given time series data set shows slight fluctuations in the exchange rates of BZD over the period of time shown. The rates, in general, appear to have an upward trend, albeit at a slow pace. Specifically, the rates started from 0.67706 and reached up to 0.67609 towards the end of the period. While this is not an intense increase, it is quite evident. This indicates that there was a slow but steady depreciation of currency during this period.
Seasonality Analysis
From the given data, we can't explicitly identify any seasonal or recurring patterns as exchange rates often showcase random walk characteristics and are driven by numerous factors, including changes in demand and supply, interest rates, or economic conditions, which are not seasonally predictable. Moreover, the data provided spans only one day which is inadequate for any meaningful seasonality analysis.
Outlier Analysis
An outlier analysis of the data shows a couple of significant rate drops, similar to 0.67529 at around 06:20:02, and as low as 0.67422 at around 09:15:03. Such sudden changes may not necessarily be outliers, but they can usually be attributed to drastic changes in the economic environment, which could be due to a multitude of factors such as political news, key financial report releases, changes in interest rates etc. These fluctuations are considered normal in the realm of finance.
To summarize, there is no discernible seasonal pattern, but there is a slight overall upward trend over the period observed, with a few notable rate fluctuations. A more comprehensive and precise analysis would require consideration of external market-related factors and a larger dataset.