2024-05-17 Danish Krone News
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2024-05-16
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 Analysis
From the data analysis, it is evident that there was a slight depreciation of the exchange rate over time. The exchange rate started at 0.19853 at the beginning and depreciated slightly to 0.19827 over the given period. This represents a decrease of about 0.00026, which may seem minimal but it is significant in foreign exchange markets.
Seasonality or Recurring Patterns
After examining the time series data, it can be concluded that there is no noticeable cyclic pattern or seasonality in the changes of exchange rates within this dataset. The exchange rate changes seem to remain in close proximity to each other and do not demonstrate a regular rise or fall at certain times of the day or certain periods. However, several repetitions of minor increases and decreases can be observed, which is a part of normal market fluctuation.
Outliers Analysis
Regarding outliers in the dataset, as per the provided data, no significant outliers were detected. The exchange rates do not show extreme spikes or drops within this timeframe. All changes in rates are minimal and mostly oscillate within a narrow range which is typical for the foreign exchange market unless intervened by significant economic events.
Conclusion
In conclusion, the exchange rates in your dataset showed a minor depreciating trend over the period, with no clear seasonality or outliers. This steady nature of the data makes it less volatile and relatively predictable based on historical data. However, as with all financial data, unexpected factors and events can greatly influence these trends.
![Minor Fluctuations but Stable DKK Exchange Rate Observed in Key May Analysis](http://currencymart.net/images/news/danish-krone/2024-05-17/img-9TnZZCFO3AvgmgqsyectHgjW.webp)