2024-05-15 Guernsey Pound News
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2024-05-14
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Data Analysis
Let's break down the data analysis and observations step by step.
1. Understanding the overall trend of the exchange rates
From the timestamps selected for analysis, the exchange rate fluctuates between approximately 1.71248 and 1.71869. With the data given, the overall trend of the exchange rate appears to be relatively stable without a clear increasing or decreasing trend. These suggested relatively small fluctuations which means the currency is not highly volatile.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates
With the given data entries, it is hard to detect any clear seasonality or recurring patterns, since the data covers a period of only one day. Generally, a higher volume of data is needed to perform a seasonality analysis. However, an interesting observation is the degree of fluctuation within the different hours of the day. But again, this could be a particular event of the specific day rather than a regular pattern across days.
3. Noting any outliers
The rates range between approximately 1.71248 and 1.71869, which indicates a relatively stable currency exchange rate. There are no significant spikes or drops in the data, a clear sign of no outliers. Therefore, there does not appear to be any instance where the exchange rate differs significantly from what would be expected based on the trend or seasonality. However, due diligence should be done to use a box plot or statistical test to identify outliers.
It's always important to consider that any interpretations from the data are assumed to be caused by random fluctuations or patterns. However, the actual behaviour of financial markets can also be affected by a multitude of other factors including economic indicators, political events, and unexpected news events, which are not considered here.
![Significant Volatility Witnessed in GGP Exchange Rates Over a 24 Hour Span](http://currencymart.net/images/news/guernsey-pound/2024-05-15/img-7WFwcY1uzd3cEKPSUjgOguvI.webp)