MinutebyMinute Currency Exchange Rates Show Notable Fluctuations Throughout the Day
2024-04-17
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 the Exchange Rates
Through visual analysis, it is understood that the exchange rates in the dataset fluctuate within a minor range over the entire period. This suggests a fairly stable currency, with no significant uptrend or downtrend in the exchange rate. However, certain spikes and drops between intervals can be observed which could be due to normal market fluctuations.
Seasonality or Recurring Patterns
An analysis of the dataset does not indicate any clear seasonality or recurring patterns in the exchange rate. The changes in exchange rate seem to occur more randomly, which is usually common in financial markets given the complexity and multitude of factors influencing exchange rates on a daily basis. Therefore, no particular period identified when the rates regularly increase or decrease.
Outliers in the Exchange Rates
There are a few instances where the exchange rate witnesses a significant changes in comparison to its previous and subsequent rates. These could be potential outliers but it's important to note that in the context of financial markets, such volatility could be justified due to variety of factors such as sudden changes in demand and supply, financial news, political events, etc. Without the associated external data or reasons for such fluctuations, it is difficult to categorize these as 'unexpected' outliers.
Please note that while the analysis does not directly consider factors such as market opening/closing hours, weekends/holidays, these elements could potentially impact the absence of clear seasonal patterns and the presence of unexpected fluctuations, and should be considered in a more comprehensive analysis.
Of course, this is a summarised observation based purely on the data provided and for detailed interpretation, we might require domain-specific knowledge and expertise and consider a multitude of factors which influence forex rates.