2024-05-17 Brazilian Real News
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2024-05-16
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Comprehensive Analysis of The Provided Dataset
Based on the data provided, the below points conclude the study of the BRL exchange rate over the specified time period.Understanding the overall trend
From a brief look at the dataset, it can be seen that the overall trend for the BRL exchange rate is upward. There are fluctuations in the exchange rate but looking at the starting point (approximately 0.26499) and the ending point (approximately 0.2656), there is a small increase. However, these fluctuations do follow a somewhat predictable pattern and trend over time.
Identifying Seasonality
Time-series financial data often exhibit some form of seasonality, which means that certain patterns recur over specific periods. For the data provided, we might need more information or a longer time span to confirm any possible seasonality. As per the available data, it's hard to conclude a specific recurring pattern or seasonality for the BRL exchange rate. Yet, judging by the extent of data in hand, we see some regular minor rate fluctuations, though the overall trend seems to be increasing slightly.
Noting any Outliers
As per the initial analysis, the dataset does not seem to exhibit any significant outliers. Most exchange rate data fluctuates throughout time due to various market forces, such as inflation and economic indicators. With a more thorough statistical analysis, we could identify any minor outliers in the data. Currently, no significant spikes or dips are seen that could be determined as outliers.
Concluding Remarks
On summarizing the analysis, with the small amount of incremental increase, the BRL currency seems to be stable over the given data period. Several instances of minor internal fluctuations are noticed, potentially following an unrecognizable pattern with the time period provided. We don't notice significant outliers. Increasing the scope of the time period might expose more trends, seasonality, or outliers not visible with the current limited data set.
![Surging BRL Exchange Rates Embarks a New Dawn](http://currencymart.net/images/news/brazilian-real/2024-05-17/img-01pmXvixl0bGbqiGD6y2DCOP.webp)