2024-05-08 Denar News
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2024-05-07
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the Overall Trend
The given data indicates minute-by-minute variations in the exchange rate of MKD. On a broad scale, the trend in the data seems to be relatively stable. The values start at around 0.02393 and end around similar values of 0.02399. This suggests that there is not a very significant shift in the value of the exchange rate over the course of the given timeline. However, within this overall context of relative stability, there are minor fluctuations that reflect the continuous adjustments in the exchange rate due to supply-demand dynamics in the currency market.
Identifying Any Seasonality or Recurring Patterns
In this particular dataset, it's challenging to identify any clear seasonality or recurring patterns based on the given time frame. The dataset includes less than a complete day's worth of data, mainly limited to intra-day fluctuations. These intraday changes in exchange rates occur due to normal market dynamics and financial activities, which may not be enough to represent any long-term seasonal trends or recurring cycles. More comprehensive data including periods over months or years would be required to detect those patterns with reasonable certainty.
Observing Any Outliers
A meticulous observation of the dataset shows that the exchange rates fluctuate within a narrow band, and there doesn't seem to be any extreme outliers or unexpected spikes or dips. The values mostly vary in the range of approximately 0.02389 to 0.02404. No particular instances can be flagged as an outlier where the exchange rate would deviate significantly from the expected range based on the given data. However, this interpretation is strictly within the context of the provided data, and the band of normal range can be wider in the real world based on various market factors and macroeconomic conditions.
![MKD Exchange Rate Experiences Modest Fluctuations Throughout the Day](http://currencymart.net/images/news/denar/2024-05-08/img-X5sGKuyzKgtW933wgx0iNA3A.webp)