2024-05-06 Gibraltar Pound News
2024-05-05
Summary of Last Week
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis Result
To complete this analysis, I was given a series of timestamps along with corresponding GIP exchange rates. By carefully interpreting this data set, I was able to draw several meaningful insights about the trend, seasonality, outliers, and other relevant characteristics of GIP rates over time.
1. Understanding the overall trend of the exchange rates
Broadly speaking, the GIP exchange rate appears to fluctuate within a certain range over the given period, suggesting a degree of volatility in the currency market. The highest point is around 1.72, while the lowest is around 1.69. The overall trend, relatively choppy, does contain some short-term price uptrends and downtrends, though it seems to lack a strong and continuous direcitonal trend over the analyzed period.
2. Identifying seasonality or recurring patterns in exchange rates
Checking for seasonality or recurring patterns in this dataset is challenging due to the short time frame and the volatile nature of the data. It seems that the data does not show a direct and easily discernible form of seasonality or cyclical patterns. However, it appears that there are frequent swings between highs and lows, indicating possibly high levels of market activity throughout the trading hours.
3. Outliers in exchange rates
Few outliers can be discerned from this data. On some days, the exchange rate appears to rise or fall significantly beyond the average daily range before reverting to within its normal trading range. This suggests there might be external events or market factors that occasionally influence the rate beyond typical trading behaviors and cause these fluctuations. However, it seems that these fluctuations do not sustain and the price normalizes relatively quickly.
In conclusion, this dataset demonstrates the inherent volatility in GIP exchange rates. It appears that while there are trends present, they are often short-lived and lack strong directionality, suggesting a market driven largely by short-term factors rather than sustainable long-term trends. The presence of occasional outliers further attests to this volatility.
