2024-05-14 Danish Krone News

Summary of Last Month

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:


Overall Trend of Exchange Rates

An initial look at the data indicates a slight increase in exchange rates over the period under analysis. Starting at 0.19752, the exchange rate shows gradual increments, achieving its peak at 0.19800, before slightly declining and settling around the rate of 0.19778 by the end of dataset provided. The overall upward movement, albeit small, depicts a trend of appreciation for the currency denoted in the dataset.

Seasonality or Recurring Patterns

In this dataset, no clear seasonality or recurring patterns are observed at first glance. The currency seems fairly stable, as there are no major fluctuations in its value throughout different times of the day. However, a more detailed, possibly hourly or weekly, analysis could reveal more specific patterns, particularly if we take into account normal business hours or specific days of the week where a higher volatility might be expected.

Identifying Outliers

The dataset doesn't seem to feature any significant outliers in terms of exchange rate. The currency remained mainly within a very narrow band throughout the period under examination. This reflects the relative stability of the currency. More significant fluctuations, if they exist, could potentially be located with a deeper analysis. Nonetheless, based on the provided dataset, the changes in the exchange rate were mostly subtle.

In conclusion, the provided DKK exchange rates dataset depicts a stable yet slightly appreciating currency with no apparent seasonal patterns observed. No significant outliers were found within the data. However, a deeper analysis over a more extensive time frame, or breaking down the data into smaller units like hours or days, could provide a better understanding of the underlying trends.

hout the Day The trading day starts typically with a minor, fluctuating pattern in DKK exchange rates, as shown by data on May 13, 2024. The rates have been seen hovering around 0.19752 at midnight, reaching the peak of 0.19799 at 10:40 AM, the highest level of the day. This trended significantly as traders across the globe initiated their day, which caused the exchange rate to mark the peak point. It, however, slightly decreased as the trading day proceeded, which is common in currency markets due to human behavior and the flow of algorithmic trading during working hours. In the context of currency trading, such fluctuations can be pivotal, and traders closely monitor these changes for potential trading strategies. The DKK currency was seen trading within tight bands on the day, suggesting stability in the market with little volatility. The data shows a systematic pattern of trading, with rates moving marginally in small increments throughout the day. A significant correlation has been observed between the time of the day and the movement of the DKK exchange rates. A slight fluctuation during working hours suggests an increase in trading activity, with traders reacting to market news or executing planned trades. The volatility observed in the DKK exchange rates on May 13, 2024, is reflective of the broader market sentiments, where investors seem to have been cautiously executing their trades. Given that the variances in the rates are within narrow margins, it suggests that market participants are potentially awaiting more significant news or economic data to initiate larger trades. Moreover, the constant oscillation of the currency exchange rate highlights the ongoing balance between supply and demand for DKK within the market – a vital sign of market integrity. It represents the constant tug-of-war between buyers and sellers, which eventually establishes the exchange rate. Looking ahead, market spectators and traders ought to pay close attention to the economic announcements and macro events, both from Denmark and globally. These events could bring about a change in the trend of DKK exchange rates. In the foreign exchange market, a variety of factors could potentially influence the exchange rates, including interest rates, economic growth, geopolitical events, import-export balance to name a few. The detailed analysis of the time-series data of DKK exchange rates thus provides meaningful insights into how market participants react to various situations in the forex market. Consequently, in-depth study and comprehension of these data patterns can indeed open up new opportunities for investors, analysts, and traders.Minor Fluctuations Observed in DKK Exchange Rates Throughout the Day

Current Middle Market Exchange Rate

For information purposes only.