2024-05-02 Danish Krone News
2024-05-01
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis of DKK Exchange Rate Time Series Data
The dataset presents the time series data of the DKK exchange rate over a certain period. Following an analysis of the dataset, various observations were made that are critical to understanding the behavior of the DKK exchange rate during the period under review. Here are our main observations:
1. Overall Trend
The overall trend of the DKK exchange rate during this time frame seems to rise gradually. The exchange rate begins at approximately 0.19687 and ends around 0.19723, reflecting a slight upward trend. However, this change is not significant, suggesting that the DKK exchange rate remained relatively stable over this period.
2. Seasonality and Recurring Patterns
Given the limited scope of the dataset, it's challenging to identify clear seasonal trends or recurring patterns. The rates are consistent throughout the day, with small fluctuations typical in forex markets. Similarly, there's no noticeable pattern on an hourly or minutely basis. Further analysis with detailed and extensive historical data might reveal daily or weekly patterns, or typical responses to certain events.
3. Outliers in the Exchange Rate
The DKK exchange rate data displayed no significant outliers or drastic deviations from the overall trend. The variations in the rates are not large enough to suggest any anomalies or outliers. This finding suggests a fairly stable period for the DKK exchange rate during this particular time frame.
Remember, this analysis is strictly based on the numerical data provided and does not take into account the impact of external factors on the DKK exchange rate such as geopolitical events, monetary policies, economic indicators, or changes in global forex market conditions. Furthermore, this analysis does not forecast future exchange rates.