Steady Decline and Volatile Rally Intriguing Patterns in GMD Exchange Rates
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
While looking at the aforementioned data, we can observe that the overall trend of the Currency Exchange Rate (GMD) is relatively stable throughout the period shown. Nevertheless, there are minor fluctuations, which are to be expected in exchange rate data. Despite a few slight dips and rises, the exchange rate returned close to its original starting point by the end of the timeframe.
Seasonality or Recurring Patterns
Given the frequency of the data points (roughly every five-minute for one day), it's difficult to identify any clear seasonality or recurring patterns in this dataset. Considering the 24-hour period, there doesn't appear to be any distinct time at which the exchange rate rises or drops consistently. However, depending upon on the trading volume or other macroeconomic factors, patterns might emerge in a larger dataset.
Notable Outliers
The data does not seem to contain any significant outliers. All exchange rates appear to fall within a very narrow range. A more thorough statistical analysis could be conducted to confirm this, though it's worth reiterating that the scope of this dataset, focusing only on one single day, will likely not generate many significant outliers unless an extremely unusual event occurred within this timeframe.
Additional Considerations
It is worth considering that exchange rates could be influenced by a plethora of factors, such as changes in interest rates, economic stability, and even geopolitical events. It may be beneficial to analyse additional data, such as trading volumes or macroeconomic indicators, in order to gain a more thorough understanding of the trends and potential influencers on the currency's exchange rates noted here.
Please note that this analysis does not consider the market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Those factors would certainly play significant roles in real-time financial analysis.
