2024-05-16 Bermudian Dollar News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-15
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 of Exchange Rates
Before I can provide an in-depth analysis, I would normally inspect the data and generate a line plot to visualize the overall trend. However, based on a logical reading of the given data, I can say that the BMD exchange rate seems to remain relatively stable ranging from around 1.359 to about 1.365. This is only a rough observation and can be subject to change following a direct inspection and proper analysis of graph.
Seasonality or Recurring Patterns
The concept of seasonality or recurring patterns would be generally analyzed in the domain of yearly data where fluctuations observed decipher a particular pattern every season (quarter, month, or week). To evaluate it properly, decomposition of the time series data would be done that breaks a time series down into three components: trend, seasonality, and noise. In the given data, there is a lack of more extended periods (like a year or quarter) which makes it hard to determine any seasonality or recurring patterns.
Outliers Detection
A direct reading of the data does not appear to show any drastic outliers or instances where the exchange rate differs significantly from ordinary values. While the given rates gradually rise and decrease, there are no values that show strong variance which could be categorized as outliers. A more competent method to identify outliers would be with the help of Box plots and understanding the calculated Interquartile range for the data which might demand a direct inspection of data.
Remember!
This analysis is based solely on the given information and does not consider external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Additionally, no predictive analytics or forecasting has been performed, as such was not required.
![Substantial Fluctuations Mark BMD Exchange Rates Amidst Market Unrest](http://currencymart.net/images/news/bermudian-dollar/2024-05-16/img-NxtdKM09ZRzWaLRz8r7EFNkp.webp)