2024-05-06 Denar News

Currency mart logo
Follow Denar Forecast May 6, 2024
Share:

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. Understanding the trend of the exchange rates

The data provided is fairly stable, with change being incremental and small. This shows consistency in the MKD exchange rate over the given period. However, from the beginning to the end of this dataset, it does appear that the MKD exchange rate has marginally decreased over time. This decrease is slight and steady, with few significant spikes.

2. Seasonality or Recurring Patterns

Regular patterns or seasonality within this time series dataset aren't immediately visible due to the stability of the exchange rate over this period. There don't seem to be regular intervals at which the exchange rate experiences significant shifts. Any fluctuations in the rate within this dataset are low. An in-depth analysis that may involve machine learning methodologies could potentially identify any subtle underlying patterns. Nevertheless, without further processing, no clear-cut seasonality or cyclic behavior is observed in this dataset.

3. Outliers in the dataset

Considering this dataset's overall stability, any sharp spikes or drops could be considered as outliers. However, in this case, the MKD exchange rate is fairly stable, and such outliers are hard to distinguish. Nevertheless, on rare occasions, the exchange rate experiences minimal increases or decreases before returning to previous levels. For example, on 2024-04-09 10:00:03, the MKD exchange rate rose to 0.02403 before returning to previous levels around 0.02385 soon after. These could be considered minor outliers within a largely consistent dataset.

Lastly, note that this analysis is purely statistical and based on the given dataset. It does not take into account other influential factors such as geopolitical events, economic policy changes, or significant events in global financial markets, which could have significant impacts on exchange rates. A thorough and accurate analysis of exchange rates would ideally take these factors into account.

a Month In a surprising turn of events, there has been an observed fluctuation in the MKD (Macedonian Denar) exchange rate over the course of the last month. This trend was clearly visible in the time-series data, reflecting the changes in exchange rates at different time intervals. As per the data, the month began on a slightly stable note, with the MKD exchange rate lingering between 0.0238 and 0.0239. However, a gradual ripple was noticed as the days progressed, leading to unique highs and lows in the rate. One of the mild peak moments, a surge in the MKD exchange rate to 0.02403 was observed on the 9th of April, 10:00 AM. This rise, although seemingly minimal, was a significant change considering the stability of currency over periods. This period of elevation was short-lived, as the rate reverted back to 0.0239 shortly. The downward plunge did not stop there; as per the data, a record low rate of 0.0237 was noted towards the end of April, marking the lowest in the month-long period. There was a slight increase towards the end of the month, with the exchange rate ascending to 0.02399 on the 30th of April at 8:00 PM. However, it fell short of reaching the apex observed earlier in the month. The ambiguity in the MKD exchange rate trend reflects the volatility in the forex market. Fluctuating exchange rates can significantly impact the nation''s economy as well as individual investors and businesses. The fluctuations in the MKD exchange rate can be due to a host of factors such as changes in interest rates, inflation rates, political instability, economic performance, and speculation. It is crucial for businesses involved in international trade, as well as investors in the forex market, to be aware of these fluctuations to mitigate risk. The volatility in the MKD exchange rate over the past month also underscores the unpredictable nature of financial markets. While economic forecasts may provide a guide, they cannot guarantee market movements, making financial investment and speculation a risky domain. Looking ahead, it becomes imperative to closely watch how the MKD exchange rate trends change over the coming months. It will be interesting to see if the currency finds its stability or if the trend of volatility continues. The traders and economists will have to keep their fingers on the pulse as the MKD navigates its path in the unpredictable financial market. Uncertain Trend for the MKD Exchange Rate Observed Over a Month

Current Middle Market Exchange Rate

For information purposes only. 



Where to purchase Denar?
Winnipeg Downtown Winnipeg St. Vital Mall Toronto Downtown Toronto North York Online Shop Online Exchange Online Exchange