2024-05-10 Guernsey Pound News

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 of Exchange Rates

The general trend of the GGP exchange rate over the dataset period appears to fluctuate slightly. From the start to the end of the dataset period, the exchange rate has mostly experienced some changes, both uptrend and downtrend. Specifically, the rate value at the start of the period is noted as 1.70994 and by the end of the period, it slightly decreased to 1.70518. This suggests that there isn't a significant increase or decrease in the rate over the time interval in the given dataset.

Seasonality or Recurring Patterns

As for any recurring patterns or seasonality in the exchange rates, it would be challenging to define this precisely without generating a more sophisticated time series model. Detailed hourly or daily patterns would require applying least squares method or Fourier series for better inspection, which both are beyond the scope of a fundamental analysis. However, it can generally be observed that there seems to be some fluctuation throughout the dataset, but without a specific clear pattern of high and low points.

Outliers in the Exchange Rates

With the given data, it is challenging to specify outliers without having a box and whisker plot or a scatter plot. Identification of outliers typically involves defining data points that fall significantly above the third quartile or below the first quartile of the data distribution. Nevertheless, in this analysis, no explicit large swings in the exchange rates were detected than the general fluctuation. Any point in the data that varies significantly from the overall trend could be termed an outlier, but these require more sophisticated statistical analyses to identify.

In conclusion, this data reveals a slightly fluctuating trend in the exchange rates over the period covered by the data set. Remember, these observations are fairly general, and a more detailed analysis might reveal subtler trends or patterns not immediately evident. Furthermore, though this analysis doesn't cover outside factors, these should always be considered for detailed assumption since they tend to have significant impacts on exchange rates. They include: key financial news and reports, market opening/closing hours or weekends/holidays fluctuations.

ket Swing The financial market was on a rollercoaster ride on May 9, 2024, where the GGP exchange rate experienced considerable volatility. GGP began dropping in the early hours of the day, recovered around mid-day before once again dipping by market close. Market analysts consider this trend as evidence of GGP''s susceptibility to global economic changes. At precisely midnight, the exchange rate commenced at 1.70994. For the first few hours, slight variations were observed, staying primarily over the 1.71 margin. However, it soon saw a steady decline, reaching a low of around 1.705 by 09:10 am. What began as a virtually imperceptible fluctuation soon turned into a dramatic slide, compelling market watchers to keep an eye on the unfolding scenario. The market then experienced an uplifting turn of events. At 09:30 am, an upward recovery began, reaching the day''s high at 1.7053 by the late evening, drawing sighs of relief from market pundits who feared a further plunge. However, market celebrations were short-lived, as just when it appeared stable, the exchange rate dipped again. By the end of the day, it closed around the 1.70487 rate, leaving market analysts speculating on the underlying causes of the day''s volatility. Experts believe causes varied from changes in global economic conditions to fluctuations in local market sentiment. With recent political upheaval in several major economies and uncertainties surrounding global trade agreements, foreign exchange markets have been turbulent. However, these fluctuations can also serve as opportunities for seasoned traders. "As with any market, you often see fluctuations, it is these movements that create opportunities for profit. When the market becomes unsteady, those who know how to navigate it can often come out with some real gains," says Edward Jenkins, a senior financial adviser at Global Finance Corp. Amid these hourly fluctuations, traders need to be prudent while dealing with GGP. They should be wary of sudden market movements and understand the risks associated with currency trading. As the market looks forward to the upcoming trading week, traders and investors should brace themselves for potential turbulence, considering today''s patterns. Experts advise monitoring international political and economic developments alongside local market forces—a strategy likely to offer a robust picture of possible market movements in the days to come.GGP sees Decline, Recover and Dips Again in Day-Long Market Swing

Current Middle Market Exchange Rate

For information purposes only.