2024-05-17 Hong Kong Dollar News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
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
1. Overall Trend Analysis
From the given dataset, it is clear that the exchange rate of HKD has shown a mild growing trend. The rate has started from 0.17436 and ended at 0.17467 which indicates an overall increase. However, the changes are rather small and therefore it can be said that the exchange rate overall seemed to be relatively stable over the given period.
2. Identifying Seasonality or Recurring Patterns
While analyzing time-series data, it is important to understand seasonality that describes particular recurring patterns over a specific period. Due to the short time period in the dataset which is less than a day, it's difficult to truly identify any concrete recurring patterns or seasonality. Moreover, the given data does not represent weekly or monthly trends which are critical in analyzing seasonality in currency exchange rates.
3. Outliers & Volatility
The volatility of a currency pair is often evaluated in forex trading. Talking in terms of this given short timeframe, there hasn’t been any significant volatility. All the changes appear to be slight variations around a similar area. There are no drastic rises or falls during the time period of the data set, indicating a relatively low level of volatility. As for outliers, due to the minimal variation in rates, there doesn't appear to be any notable outliers within the provided data set.
To conclude, this preliminary analysis provides a basic understanding of the given data set. For a deeper analysis, data from a longer time period would be helpful to derive meaningful insights.
![Hong Kong Dollar Exhibits Stability Amidst Minor Fluctuations](http://currencymart.net/images/news/hong-kong-dollar/2024-05-17/img-Sebj526gzZDEHrDa7QfENNmH.webp)