MKD Exchange Rate Demonstrates Steady Trend With Slight Volatility
2024-04-17
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Overall Trend of Exchange Rates
Regarding the overall trend of the exchange rates, the data shows a slight, but quite stable, increase in the MKD exchange rate over the given period. The rate started at 0.02385 and ended at 0.02382. Though the increase is minimal, it is noticeable. It should be noted that the rate fluctuates within a narrow range which indicates a relatively stable market for this particular currency during the specified timeframe.
2. Seasonality and Recurring Patterns
In terms of seasonality or any recurring patterns, time series data usually needs a prolonged time-frame for seasonal patterns to become evident, such as data from multiple years to account for annual seasonality. Given this dataset consists of just one day's data, it is challenging to draw conclusions regarding seasonality. However, there appear to be slight peaks and troughs in the data, indicating some intraday patterns that may be attributable to market opening/closing hours or other factors that cause increased/decreased activity in market trading.
3. Outliers in the Exchange Rates
An outlier detection exercise shows that there were no significant discrepancies in the data, and no specific exchange rate that deviated significantly from the normal range. The rates do not show any abrupt jumps or drops or extreme fluctuations that could be considered as an anomaly. This suggests that the currency market for MKD was stable without any noticeable turbulence on this specific day.
In final words, the MKD exchange rates for that specific day maintained a steady trend overall with minor fluctuations within a very narrow band, indicating a relatively stable market. On this specific day, the exchange rate did not show any anomalous variations and did not exhibit discernible seasonality patterns, bearing in mind the limitations of the time frame provided.