2024-04-22 Denar News

Summary of Last Week

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

1. Analysis of Overall Trend

The data points provided span from March 22, 2024 to April 19, 2024, showing the changes in the MKD exchange rate over this period. The initial MKD rate on March 22 is 0.02392, and the final rate on April 19 is 0.02377. The exchange rate appears to have decreased slightly over this time period. However, this decrease is quite minor. Overall, there seems to be relative stability in exchange rates, with minor fluctuations up and down over the month-long period. It's important to note that more data would be needed to confirm this evidence of trend.

2. Seasonality or Recurring Patterns

While it would be beneficial to have data spanning at least a full year to more accurately determine seasonality, some patterns can still be gleaned from this month-long data. Upon careful review, there do not seem to be any clear seasonal or recurrent patterns based on the data provided. The changes in the exchange rates appear to be irregular and do not follow any obvious cyclical pattern. This suggests that the MKD exchange rates during this period might be influenced more by irregular or random factors rather than fixed seasonal effects.

3. Outliers in Exchange Rates

Identifying outliers requires calculating statistical parameters like the mean and standard deviation, and this goes beyond simply reading the time-series data. However, eyeballing the given data, there are no significant fluctuations that could be considered as outliers. Most of the changes are very minor, in the range of 0.00001-0.00010. Consequently, based on the given set of data and considering the subtle variations, there seems to be no evident outliers. Any sudden or vast changes in the rate, exceeding this typical range of variation, could potentially be considered as an outlier but such an event is not recorded in this data.

Remember, this analysis is derived from a month-long data from March to April of 2024. To obtain a more accurate and comprehensive picture of the trend, seasonality and outliers, data spanning over a longer time period, preferably multiple years, is required.

In the financial market of the second quarter in the year 2024, the Macedonian Denar (MKD) experienced a series of fluctuations that inevitably had various implications on the economic position of the country, as well as several international economic sectors. Starting March 22, 2024, the exchange rates showed a subtle variation that maintained around 0.0239, with occasional slight dips to 0.0237. By the end of the same month, however, the MKD exchange rates prominently decreased to approximately 0.0237, marking a mild shift in the market trend. April 2024 bore witness to an erratic, yet notable, wave. The MKD exchange rates rolled out an inconsistency that oscillated mostly between 0.0237 and 0.0238, even touching a peak of 0.02403 around the ninth of the month. This was the only occasion in the given data where the MKD crossed the 0.024 margin, potentially stirring various market responses. The situation in the market during the mentioned two months has had impactful repercussions on several sectors. Importantly, the oscillatory behavior of the MKD may have influenced stakeholders'' decisions, foreign investments, and national trade balances. The constraint trading conditions might have resulted in increased speculation, potentially fueling future price fluctuations. Now, while the constant ebb and flow in the MKD exchange rates made the market landscape uncertain and somewhat volatile, it also presented potential opportunities for profit, specifically for forex traders and investors who embrace risk. Predicting market movement based on such volatility could yield high returns. Hence, the market events of March and April in 2024 embodied both challenges and newfound investment chances. Economists and financial analysts stress that the fluctuating trajectory of the MKD reflects the unstable global economic climate, bearing the marks of international trade wars, geopolitical conflicts, and potentially, the monetary policies of major economies. Macedonia''s mainstream industries, such as ferro-nickel production, might have also impacted the exchange rates. As we move into the future, it is essential for investors and governmental bodies to closely monitor these fluctuations and adapt their strategies accordingly. Predictions suggest that the volatility might persist in the upcoming months, but strategic financial maneuvers and adjustments of fiscal policies could mitigate the possible risks. Market participants should remain vigilant and prepared to capitalize on any potential opportunities presented by MKD''s flux. The intricate fabric of the MKD financial landscape in 2024 is a textbook case of economic dynamism and the constant interplay of numerous factors that influence exchange rates. As we move forward, understanding these fluctuations and their implications should equip investors better to navigate the financial market.Fluctuating MKD Exchange Rates Witnessed in Q2 2024

Current Middle Market Exchange Rate

For information purposes only.