2024-05-06 Cayman Islands Dollar News
2024-05-05
Summary of Last Week
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the Overall Trend of Exchange Rates
From an initial look at the provided time-series data on exchange rates, it seems that the overall trend can be considered volatile. There are several fluctuations throughout the period. The exchange rate appears to have increased from 1.62543 on 2024-04-05 to 1.64295 on 2024-05-03, indicating a general upward trend. However, the rate did not steadily climb throughout the period. Instead, there were numerous instances where the exchange rate increased and decreased significantly over short periods of time. Without considering external factors, this suggests that the exchange market for KYD is quite volatile.
Identifying Seasonality and Recurring Patterns
In terms of seasonality or recurring patterns, this is typically difficult to pinpoint in exchange rate data over a short period as it is primarily random walk in nature. But a peculiar trend observed in this dataset is that, on many occasions, the rate increases for a few days before dropping again - usually to a level higher than the previous low - followed by another increase. This pattern could potentially indicate some level of predictability, although a larger dataset would be required to establish this with more certainty.
Noting Any Outliers
Regarding outliers, several instances where the exchange rate differs significantly stand out. For instance, on 2024-04-10, the exchange rate inexplicably jumped from 1.62531 to 1.6361. Similarly, on 2024-04-18, the rate drastically dropped from 1.65579 to 1.65096, before climbing again. These instances may represent outliers as they significantly differ from the general pattern of the data. However, it would be more accurate to identify these with a statistical outlier detection method.
These findings provide a birds-eye view of the trends, seasonality, and possible outliers in the KYD exchange rates for the given period. While that can provide some context for further analysis, one must also take into account that the exchange rate is impacted by numerous unpredictable factors and can change rapidly.
