2024-05-10 Bermudian Dollar News
2024-05-09
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Understanding the Overall Trend of Exchange Rates
Having analyzed the dataset provided, it appears that the overall trend of the exchange rate is somewhat stable. There are certain times in the dataset where the exchange rate increases but these are generally followed by proportional decreases, allowing the rate to maintain a relatively consistent average. There are a few unexpected instances of quick spikes or drops, but these can be considered outliers. It is also clear from the dataset that the range of the exchange rates during the period is quite narrow, which further supports the finding of a generally stable rate without significant increase or decrease.
2. Identifying Seasonality or Recurring Patterns
Looking at the dataset, it's difficult to identify any clear seasonality or recurring patterns in the changes of exchange rates. This is largely due to the lack of a discernible pattern in the fluctuations of the exchange rate across the period. Most changes in the rate occur in a relatively random manner without consistency in direction or magnitude. This implies that other unpredictable factors could be influencing the rate's movement.
3. Noting Any Outliers
While the trend and seasonality may not be clearly discernible, there are a few outliers noticeable in the dataset. These are instances where the BMD exchange rate varies significantly from its usual range. It is difficult to establish the reasons for these outliers without considering other external factors. However, due to the few number of these outliers, they do not significantly affect the overall stability of the exchange rate during the period shown.
Please note that these observations are purely based on the data provided and do not consider any external events or factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports.
