2024-05-14 East Caribbean Dollar News
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2024-05-13
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
From the data provided, the overall trend of the exchange rates fluctuates slightly within a range of 0.50559 to 0.50639. No significant increasing or decreasing pattern can be discerned over time as the changes in rates are quite subtle, implying it relatively remains stable over time.
Identifying Seasonality or Recurring Patterns
From the pattern of the data, there does not appear to be any discernable seasonality or recurring patterns within the changelog of exchange rates data. The changes seem to follow a random walk nature over time, as at each period, there are almost equivalent chances of the XCD increasing, decreasing, or staying stable.
Outliers Detection
Depending upon the considered significant level, some possible outliers might be identified, such as the instance when the exchange rate dropped to 0.50559 at 8:35 am and when it peaked at 0.50639 at 9:55 pm. These values can be considered outliers considering the rest of the data as they lie at the extremes. However, considering the slight nature of fluctuations, these outliers don't represent any significant anomalies and rather seem part of the normal variations.
Note
It is important to remember that the interpretation provided here does not factor in external influences like market opening/closing hours, weekends/holidays, or the release of important financial news and reports, which undoubtedly plays a significant role in affecting exchange rates.
![Volatility in XCD Exchange Rates Witnessed Over 24 Hour Span in Mid-May 2024](http://currencymart.net/images/news/east-caribbean-dollar/2024-05-14/img-pH8XXoKVFrg1nNwKBBELlVI4.webp)