Analyzing BMD Exchange Rate Fluctuations in April 2024
2024-04-15
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
After analyzing the time-series data, it can be observed that exchange rates exhibit small fluctuations, which is typical of a financial market. However, the overall trend seems to be an increase in the exchange rate over time. This implies that the currency has weakened against BMD over the period. This conclusion is based on the observation that the exchange rate starts from around a value of 1.375 and ends around 1.380, showing a slight upward shift.
Seasonality and Recurring Patterns
Seasonality or recurring patterns in the time-series data is not very clear or visibly evident from the data provided. While financial time series data sometimes exhibit patterns tied to the opening and closing of major financial markets or the publishing of key economic reports, this data set doesn't provide clear signs of such behavior, or the data sampling frequency does not align with such patterns. More granular or differently aggregated (e.g., hourly or daily averages) data might reveal seasonality or recurring patterns more clearly.
Identification of Outliers
Given the volatility inherent in exchange rates, outliers or drastic changes are not unusual, but are rather part of the asset's behaviour. In this specific set, no extreme outliers that deviate significantly from the observed trend or behavior pattern were detected. It's worth noting that conducting a specific statistical analysis, like a z-test or box-plot analysis could provide a more accurate view of the outliers if the dataset were larger.
Overall, the constant fluctuation of these exchange rates is indicative of the inherent volatility found within financial trading markets. These findings are informative for understanding the asset's potential risk and return characteristics.
