2024-05-09 Falkland Islands Pound News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-08
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 of the Exchange Rates
The data provided indicates a relatively stable exchange rate with minor fluctuations throughout the given period. Generally, the rate starts at 1.71324, peaks at around 1.71432, and ends at 1.70975. The movement of the rate appears to be non-linear and is characterized by small increases and decreases. This portrays a volatile market, which is common for forex markets due to continuous trading activities worldwide.
Identifying Seasonality or Recurring Patterns in the Exchange Rates
When examining the given data set, it is challenging to identify any clear seasonality or recurring patterns within the short timeframe. However, it looks like there is a slight tendency for the exchange rate to decrease in value in the early morning hours and to peak during the day. Still, this pattern is not strictly consistent and should be further explored with a larger dataset.
Noting any Outliers in the Exchange Rates
Looking at the given data, there do no seem to be any extreme spikes or drops in the exchange rate that would represent outliers. That said, we observe minor deviations from the average at points such as the dip to 1.70901 at 10:35:03 and the peak to 1.71432 at 07:20:03. Again, due to the nature of the forex market, small-scale fluctuations like these are commonplace and typically do not represent meaningful deviations from expected behavior.
As mentioned earlier, this analysis solely focused on the given data and did not consider external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports which often have significant uses in real-world forex trading scenarios.
![FKP Exchange Rate Experiences Whirlwind Fluctuations Implies Future Market Instability](http://currencymart.net/images/news/falkland-islands-pound/2024-05-09/img-MNLk39amVOn8doJIKTQ7tCUA.webp)