FKP Exchange Rates Exhibited Volatility Amid Market Uncertainty
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2024-05-15
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Before the analysis, it's important to note that the exchange rates of a currency, like the Falkland Islands Pound (FKP) in this case, are driven by supply and demand in the forex market. This can be affected by various factors such as economic performance, interest rates, inflation, and geopolitical risk among others. It should also be considered that forex market is operational 24 hours a day, five days a week, which means currencies can be traded at different times during the day. The following is a step by step analysis of the data provided:
Understanding the overall trend of exchange rates
From the initial observation of the data, there's a slight downward trend in the value of the FKP. This is indicated by comparing the earlier points (1.71417 on 2024-05-15 00:00:02) to the later points (1.7092 on 2024-05-15 23:55:02). A more detailed study and appropriate data visualizations would provide more context on the magnitude and significance of this trend.
Identifying seasonality
Given the nature of the data (intraday forex prices), it is difficult to identify seasonality from a single day's data. Seasonal patterns in exchange rates, if they exist, often emerge over a longer period. These might include week-level seasonality (certain days of the week experiencing consistently higher or lower rates), month-level seasonality (due to monthly economic reporting cycles), among others. Such patterns would require data covering multiple weeks, months, or years to accurately discern.
Noting outliers
An outlier in this context might be considered a sudden and significant spike or dip in the rate that could not be attributed to the identified overall trend or seasonality. In the data provided, there appears to be a potentially significant dip of the FKP at around 2024-05-15 07:35:03 - with a value of 1.7086, which goes even lower at around 2024-05-15 10:35:03 with a value of 1.70787. However, further data analysis techniques should be applied to formally identify and confirm these and any other outliers.
Consideration of external factors
As per your request, the analysis doesn't consider any external factors that could influence the exchange rate. This includes factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports.
No forecast
As requested, this analysis does not include any forecasts of future rates. However, it is worth noting that numerous established techniques exist for forecasting time series data like this, including autoregressive integrated moving average (ARIMA) models, exponential smoothing, and more. These could be useful for future studies.
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