2024-05-21 Denar News
2024-05-20
Summary of Last Month
- 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 of exchange rates
Upon examination of the dataset, it appears that the overall trend of the MKD exchange rate is relatively stable throughout the timeframe provided. The exchange rate begins at 0.02401 at the start of the period and ends at 0.02404. While there are minor fluctuations in the rate, the overall change is negligible. It indicates that there is minimal inflation or deflation taking place in the MKD.
Seasonality Analysis
Given the nature of the time series data, it's difficult to identify any clear pattern of seasonality due to the short timeframe provided. No repeating patterns are present in this dataset that indicates a particular cycle or seasonality in the exchange rates over the period shown. Greater transparency on trends and seasonality could be gained from examining a dataset spanning multiple years.
Outlier Identification
From the given dataset, no significant outliers were observed. All values in this dataset fall within a very close range, so there are no exchange rate events that deviate significantly from the general trend. This indicates that the rate remained fairly equilibrium in the observed duration with minor variations.
Interest Times for Changes in the Exchange Rate
While there are no specific comments on potential impactful events such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports that could affect the MKD exchange rate, it is generally well known that such factors can cause currency rates to fluctuate. Therefore, even though they were not specifically noted in this analysis, it remains advisable to consider these factors in future analytical endeavors.
Conclusion
In conclusion, the MKD exchange rate remained relatively stable over the duration being considered. Analysis doesn't identify any specific patterns or seasonality, nor does it identify any significant outliers. To achieve a higher predictive accuracy of the movements in the MKD exchange rate, it would be key to incorporate larger sets of data and possibly consider external factors affecting currency exchange rates.
