2024-05-17 Gibraltar Pound News
2024-05-16
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
The given dataset holds exchange rate data for GIP at 5min interval timestamps throughout the day on 16th May 2024. The exchange rate started at a value of 1.70918, and although it fluctuated through the day, at the end of the day the exchange rate has increased to 1.7115. This overall trend, suggests an increase in the value of the GIP throughout this period. It's important to note though that these changes also accompany day to day volatility, drops and increases in the rates over the day.
Identifying Seasonality or Recurring Patterns
Within the given one day, certain patterns can be observed. For instance, there seems to be a certain level of volatility during the early hours of the day. Nonetheless, more data over several days is required to make a substantial conclusion about seasonality or recurring patterns, as exchange markets can demonstrate intraday and weekday seasonality. Given only one day data, it's not sufficient to draw conclusions on this.
Noting Outliers
A general observation of the dataset does not indicate significant presence of outliers. The exchange rates have generally fluctuated within a range without sudden or extreme spikes or drops. However, this conclusion could be better assessed with more comprehensive statistical analysis that characterizes the variance in the given data. Additionally, other external factors might have an impact on these exchange rates, creating peaks or troughs at times of significant event occurrences.
In conclusion, it is important to note that while this analysis provides an overview of the data trend on a specific day, forecasting future GIP exchange rates would require a deeper and substantial analysis of multi-dimensional factors including socio-economic indicators, financial market trends and geopolitical events. A more statistically rigorous analysis method is necessary for more precise conclusions and predictions.
