2024-05-10 Denar News

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Data Analysis

Based on the time-series data provided one can infer the following points.

Understanding the Overall Trend

If we look at the trend of the MKD exchange rates given in the dataset, it's visible that the rates have not seen significant changes within the given timeframe. The rates have fluctuated in the range between 0.02381 to 0.02398. There isn't a discernible overall increase or decrease in the rates as they seem to be remaining relatively stable, with slight fluctuations above or below baseline level throughout the period shown.

Identifying Seasonality or Recurring Patterns

At first glance, the given time-series data does not show clear seasonality or recurring patterns for MKD exchange rates. The data moves around a specific mean but there doesn’t appear to be a consistent pattern of highs and lows repeating at predictable intervals. However, without data over a longer period, it's hard to identify any significant seasonality effect.

Noting Any Outliers

An outlier in this context would be an exchange rate that is significantly different from the ones around it. Based on the data provided, there does not seem to be any significant outliers. However, there are a few instances where there are minor jumps or drops in the rates that may be worth investigating further, for instance, the shift from 0.02381 to 0.02393 around 17:05.

Summary

In conclusion, the MKD exchange rates provided in this dataset appear to be relatively stable, with minor fluctuations around the mean. There are no clear indications of seasonality, and no major outliers were found.

or Fluctuations In a defining moment for the MKD exchange rate, data analysis for the trading session on May 9, 2024 reveals remarkable stability in the currency''s performance. Although minor fluctuations were recorded throughout the day, these were insufficient to disrupt the steady trend. As reflected in the time-series data, the MKD started trading at 0.02394 against the US Dollar at midnight. The exchange rate marginally subsided to 0.02393 in the early hours but quickly bounced back to its starting point showing resilience in the currency markets. Midway through the morning, the figure rose slightly to 0.02395, reflecting a minimal but positive shift for the MKD. However, in the afternoon session, it dipped confirming its volatility in smaller degrees. As the trading day progressed, the value experienced a noticeable surge to 0.02398, making it the peak in the day session before retracing its steps back. This paints a picture of a typical trading day in the currency markets, a constant tussle between the buyers and sellers. While the constant shifts in the exchange rate might have been minute, each movement reflected the market''s reaction to external forces such as economic indicators, geopolitical events, and changes in global financial markets. In an environment of persistent economic changes and financial uncertainties globally, the stability of MKD against the US dollar underlines the robustness of financial policy interventions and the resilience of the economy as a whole. This trading pattern underscores the low volatility factor of MKD. Low volatility is often met with a sigh of relief by investors as it reduces the risk associated with foreign exchange. Stable exchange rate environment facilitates both national and international investors allowing them to make decisions without the risk of dramatic currency value shifts. Despite the evident stability, it is crucial for investors to note that foreign exchange markets are inherently unpredictable. The occurrence of an unforeseen macroeconomic event could trigger more significant fluctuations for the MKD. As such, investors are urged to exercise caution and undertake exhaustive risk assessment tasks. In the coming weeks, market participants should look forward to the release of economic indicators such as the GDP growth rate and inflation figures. These might shed further light on the performance of MKD and offer some suggestion about the stability exhibited on May 9, 2024. Furthermore, global events like changes in the Federal Reserve rates or shifts in key economic indicators could have ripple effects on the MKD exchange trajectory. As always, in the world of currency trading, staying informed is the best avenue to make knowledgeable and beneficial decisions.MKD Exchange Rate Exhibits Notable Stability Despite Minor Fluctuations

Current Middle Market Exchange Rate

For information purposes only.