2024-05-22 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

Analysis Result:

Overall trend of the exchange rates

The general observation from the dataset provided indicates that the MKD exchange rate has been relatively stable. Starting from approximately 0.02404 on 2024-05-21 00:00:02, the exchange rate fluctuates slightly over the timestamp covered, reaching its peak at 0.02412 on 2024-05-21 08:05:03 and its trough at 0.02401 on 2024-05-21 07:10:03. The range is rather small, reflecting a steady exchange market during this period.

Seasonality and recurring patterns

As for seasonality or recurring patterns, given the constraints of our dataset being limited to a single day, it is challenging to confirm specific seasonal trends. However, it is worth noting that the exchange rate exhibits a certain degree of volatility during the interval from 07:10:03 to 08:05:03 where it hits both the lowest and highest points. One might attribute this to potential regular daily market fluctuations as traders and investors begin the new trading day.

Outliers Significance

Considering the narrow band in which the exchange rate varies, there is no extreme outlier in the data provided. However, the points when exchange rate hits its peak and trough (07:10:03 and 08:05:03 respectively) can be viewed as mild outliers given they represent the maximum deviation from the average rate. They might be reaction points to economic news, policy adjustments, or large-scale transactions.

In conclusion, while the dataset provides an insightful snapshot of the behavior of the MKD exchange rates within a single day, a more extensive dataset would be desired for a comprehensive understanding of longer-term patterns, seasonality, and identification of significant outliers and triggering factors.
the Day Market spectators will recall the staid performance of Macedonia''s currency, the denar (MKD), on May 21, 2024. Displaying an admirable consistency, the currency maintained close to its opening value throughout the trading day, demonstrating minor fluctuations which ultimately had little impact on its closing rate. Starting the trading day at 0.02404, denar showed the stability spirit right from the off, making only marginal downward and upward swings throughout the trading day. Despite these movements, the currency ended the day on a high note at 0.02406, only a hair''s breadth away from its starting value. This consistency was seen consistently throughout the day, marking the May 21 trading period as one marked by stability for the MKD. Upon analyzing the economic overview, the story behind the fragmented variations across the day begins to unfold. The economy''s fundamentals projected mixed signals, with several macroeconomic indicators swinging between assertive and sceptical stances. As a result, we witnessed careful investors treading lightly, a prudent approach which subsequently led to the marginal exchange rate shifts noticed. The steadiness of the MKD, hence, reflected the balance of optimistic and cautious sentiments in the market. This near-static performance of the MKD has significant implications for various market players. For foreign investors, it provides some level of risk assurance, making the MKD a relatively safe bet to include in their foreign portfolio investments. Similarly, domestic investors may find comfort in the MKD''s stability, which offers them a projected level of consistency in their revenue returns. The steadiness in the MKD''s performance also points to a solid governmental monetary policy. It is reflective of a robust economic health and a targeted approach towards a stability-oriented performance of the denar. Considering the intricate relationship between the exchange rate and economic health, the steady FX fluctuations suggest an overall resilient economic performance. In terms of the onlookers, the international market watches the Balkan state''s financial dynamics with due interest. The stability of the MKD may encourage other investors to consider the potential of the Macedonian economy further. The steady denar performance can be attractive for investors who prefer relatively stable markets which offer opportunities for strategic long-term gains. While the tranquil performance of the MKD has been praised, several questions surrounding its future still persist. Observers of the MKD will be interested in events that may disrupt the stability that the currency has enjoyed. Since economic indicators and sentiments have harmoniously stirred the denar''s smooth sailing so far, any dissonance in them can cause disruptions in the currency''s stability. With this in mind, the emphasis for the future remains on the continuity of this stability or the potential for a bounce in another direction. For now, all eyes will remain on how the currency performs in the coming days, to get a sense of whether this steadiness is indeed the new norm for the MKD, or if it''s just a precursor to a bigger game changer ahead.Consistent Stability Marks MKD Exchange Rates Throughout the Day

Current Middle Market Exchange Rate

For information purposes only.