2024-05-21 Iceland Krona News

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Follow Iceland Krona Forecast May 21, 2024
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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

General Analysis

At a glance of the dataset, it's evident that the exchange rate has been relatively stable over the period. Start from 0.00985, and see a slight decrease to 0.00982, with a subsequent slight increase back to 0.00985. Peaks (relatively higher rates) of 0.00986 and 0.00985 is seen around '2024-05-20 01:55:02' and '2024-05-20 15:25:02'. Low rates of 0.00982 are observed from '2024-05-20 16:25:03' through '2024-05-20 18:15:03'.

Trend Analysis

The overall trend seems to be quite stable with minuscule fluctuations in the exchange rate throughout the period. There are small surges and drops, but these do not indicate a clear increasing or decreasing trend over the period. In fact, the rate at the start of the period is almost the same as the rate at the end of the period. This suggests a possible characteristic of an efficient market where current exchange rates reflect all available information and anticipate future events to some degree.

Seasonality Analysis

The time-series data does seem to indicate some form of intraday seasonality. For instance, the low rates periods tend to happen around early morning (01:00 - 02:00), mid-afternoon (14:00 - 15:00), and mid-evening (22:00 - 23:00). Similarly, relatively higher rates periods occur around early morning (01:00 - 02:00) and early afternoon (12:00 - 13:00). However, the extent of these changes is relatively small and whether these patterns would continue to persist in the long run is uncertain.

Outlier Analysis

Within this dataset, there do not appear to be any drastic or significant outliers. This means that all rates are mostly close to the overall trend, and there is no single rate that deviates excessively from others. The slight fluctuations witnessed are normal and do not constitute as unusual or abnormal behaviour. This suggests that the market may have been relatively calm during this period.

Last Note

The analysis suggests that while the ISK exchange rate appears to be stable over this specific timeframe, it is susceptible to minor fluctuations which may be driven by a range of factors. However, as this analysis did not account for external factors such as market hours, financial news and events, etc., the source of these fluctuations is unclear. Further analysis exploring these other influence factors may provide a more in-depth understanding of ISK exchange rate dynamics.

1> The ISK maintained a solid performance throughout a twenty-four-hour period according to the recent data captured last May 20, 2024. This steady retention of value despite the usual fluctuations in foreign exchange markets hinted at a strong, stable economy. Starting from midnight and ending at the same time the next day, the ISK exchange rate kept a tight band between 0.00982 and 0.00985. This narrow variance suggests that the support and resistance levels were well respected, indicating a balanced supply and demand dynamic in the market. For those unfamiliar with the term, the exchange rate is the price of a nation''s currency in respect to another currency. It''s a reflection of the country''s economic health and stability. Fluctuations often happen due to geopolitical events, economic reports, or even speculations. Despite these factors, ISK managed to sustain its value throughout the day. Why exactly does this matter? Firstly, a stable exchange rate often signals a healthy economy and a reliable government. These factors attract foreign investors, leading to a cyclical effect where increased investment strengthens the economy and the currency even further. Investors, both foreign and local, appreciate predictability and stability in any market, and the currency market is no exception. The solid performance of ISK is also of importance to businesses involved in import and export trade. It minimizes unforeseen costs tied to the volatility of exchange rates, allowing those businesses to be more competitive on the global stage. Furthermore, stable currency also affects personal finance decisions, such as overseas investments and travel. Despite this positive outlook, economic analysts urge the public and investors to remain cautious, as exchange rates are influenced by numerous ever-changing factors. The rate''s steadiness could just be a temporary pause before turbulence or, alternatively, the start of a longer-term trend. Looking ahead, it is important to keep on the lookout for any significant events on a global or national scale that may influence the ISK exchange rate. Analysts also suggest looking into detailed economic reports to supplement the raw data. In conclusion, the data demonstrates a steady heartbeat in the ISK exchange rate. Though the future remains uncertain, the ISK''s recent performance suggests an assurance of economic resilience, a comforting factor in a world of constant financial flux. Market participants will certainly be watching with interest, ready to pounce on any changes.Steady ISK Exchange Rate Hints at Financial Stability

Current Middle Market Exchange Rate

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