2024-04-23 Bermudian Dollar News
2024-04-22
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 of the Exchange Rates
Upon analyzing the reported dataset, it appears that the exchange rate fluctuates around a band of 1.369-1.374 with occasional minor surpasses. To illustrate, the lowest BMD exchange rate recorded appears to be 1.36883 and the highest reaches 1.37493. On the outset, the fluctuations seem minute, however, in the world of forex trading, these minor variations could have significant implications. Broadly speaking, there isn't a clear ascending or descending trend discernible within the dataset provided.
Seasonality or Recurring Patterns
Given the rather short timeframe presented in the dataset, it's challenging to identify obvious recurring or seasonal patterns. The dataset requires a longer-term perspective to observe seasonality, usually covering at least a few years. That being said, it’s worth mentioning the data seems to resonate more with irregular fluctuations rather than a visibly identifiable seasonal pattern throughout the day. These could be influenced by daily economic activities and market participants' reactions to external information.
Outliers
Discussing potential outliers, particular attention should be paid to the rates at the 1.369-1.370 range, occurring most frequently in the reported dataset. Any rates significantly outside this range could be considered as outliers. For instance, the previously stated lowest rate 1.36883 and the highest rate 1.37493 could potentially account for such examples. However, it’s crucial to remember that due to the inherent volatile nature of forex markets, these large jumps could also be a simple representation of a substantial market movement at that moment. Therefore, determining outliers based solely on this short-term dataset can be misleading.
