2024-05-08 Gibraltar Pound News
2024-05-07
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend Analysis
Upon visual inspection of the dataset, there seems to be a general upward trend in the exchange rates over the provided time period. The exchange rate, which started at around 1.7043, increased to approximately 1.71314 by the end of the provided timestamps. The overall trend suggests that the currency in question had slightly strengthened over this period, as indicated by a slight decrease in the market exchange rate.
Seasonality or Recurring Pattern Identification
It is difficult to identify any strong seasonality or recurring patterns in these data. The nature of the data, with readings taken every few minutes, does not lend itself to clear cut cycles, unlike data taken, for example, yearly or monthly. However, it does appear that some minor fluctuations can be seen actually every day, which could be due to the normal operation of the currency markets around the globe and the impact of financial news, governmental announcements, and a variety of other factors that coincide with normal business hours in key countries or regions.
Detection of Outliers
There do not appear to be any significant outliers in this specific dataset. As with any financial time series, there are definitely spikes and troughs as the exchange rate responds to a variety of trading pressures and global events. However, there does not seem to be any observation that deviates significantly from the overall observed pattern and range within this particular dataset.
It should be noted that the presence of outliers is highly dependent on the chosen threshold and can vary significantly depending on the specific standard deviation multiplier used in outlier detection. As such, a more sophisticated statistical analysis might be required to accurately identify and handle outliers present in this dataset.
Limits of Analysis
Please note that this analysis is purely observational and based on the trends and patterns visible from the data. It does not consider the underlying cause of changes in the exchange rate, including external factors such as policy changes, economic indicators, and major world events. Furthermore, this analysis does not predict future exchange rates or trends. For a more in-depth and accurate analysis, a more sophisticated time-series analysis method or machine learning model could be used, ideally in combination with additional data on potential influencing factors.