2024-05-21 Guernsey Pound News
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2024-05-20
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Data Analysis
From the given time-series data, I perform a step-by-step analysis below:
Overall Trends
On analyzing the data, the general trend observed is that the exchange rate is largely increasing over time. The rate begins from 1.70865 at timestamp 2024-05-20 00:00:02 and ends at 1.71329 at timestamp 2024-05-20 23:55:02. However, the rate fluctuates throughout the period, demonstrating varying ups and downs indicating the inherent volatility of exchange rates.
Seasonality or Recurring Patterns
In this data, it isn’t feasible to clearly discern a seasonal or recurring pattern. Given the data is from a single day, further data would be helpful to observe potential daily or hourly trends or patterns that may exist.
Outliers
No significant outliers were detected upon inspection of the dataset. The exchange rate values don't appear to have significant deviations from the observed general trend.
External Factors
While not explicitly requested in the brief, it is worth noting that exchange rates can be influenced by a myriad of external factors such as geopolitical events, changes in economic indicators and trends, shifts in supply and demand, and others. These elements could introduce further complexity in predicting exchange rate movements.
Concluding Remarks
In conclusion, this analysis provided an appraisal of the general trend of the exchange rates within the provided day. For a more accurate and comprehensive analysis, access to data over a longer-term period is recommended. This would also enable the identification of potential seasonal impacts, cycles, and trends. Additionally, the consideration of external factors such as market dynamics and economic indicators could further the depth and relevancy of the analysis.
![GGP Exchange Rate Shows Significant Ups and Downs in May 2024](http://currencymart.net/images/news/guernsey-pound/2024-05-21/img-W6QKzumtANIUUOJS8wphR7z0.webp)