2024-04-23 Gibraltar Pound News
2024-04-22
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
By viewing the dataset, there is an observable fluctuation pattern in the GIP exchange rate. The exchange rate commenced at 1.71009 and concluded at 1.70641, indicating a small overall decrease throughout the provided period. Nevertheless, interpreting through hundreds of individual values within a lengthy time frame, it's apparent that exchange rates seldom remain constant and are subject to frequent upward and downward changes. In general terms, it can be asserted that the exchange rate trend is slightly decreasing, but with constant fluctuations.
Identifying Seasonality or Recurring Patterns
Regarding seasonality or recurrent patterns, it is intricate to deduce from the provided data due to the absence of a clear cyclical pattern. The data does not show a noticeable seasonality with common high or low periods. The values seem to be largely random, with exchange rates oscillating up and down rather frequently. This indicates that the exchange rate is quite volatile and doesn't show a consistent seasonal trend.
Noting Outliers
The dataset depicts a few instances where there is a noticeable jump or drop in the exchange rate within a relatively short period. Such instances could be considered as outliers as these values diverge significantly from the surrounding data points. However, without a specific threshold or range for categorizing a value as an outlier in this context, this observation is rather subjective.
Further Considerations
Although further factors are not requested for this analysis, it's worthwhile to note that external elements such as market opening and closing hours, weekends and holidays, and release of key financial reports may significantly impact our analysis, as they often contribute to changes in exchange rates. A more thorough analysis could incorporate these factors for more precise and comprehensive insights.