2024-04-24 Isle of Man Pound News
2024-04-23
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 the exchange rates
The trend in exchange rates is not stable throughout the examined period. The value of IMP starts at 1.70642 and it seems to go up in time until 1.70829. However, after this peak, the exchange rate starts to go down to reach 1.70108 and goes slightly up again finishing at the value of 1.70227. The overall trend, observed to the naked-eye, appears to be slightly negative indicating a decrease in the exchange rate over time.
Recurring Patterns and Seasonality
Regarding seasonality or recurring patterns, because we are examining data over short time frame (a day), and given the noisy nature of financial time-series data, it is challenging to confidently determine any definitive intra-day seasonal patterns. Moreover, due to the randomness in market fluctuations, it can be generally difficult to establish a stable daily pattern in exchange rate series without longer-term data.
Outliers and Significant Fluctuations
- The highest exchange rate throughout the day is recorded at 1.70829.
- On the other hand, the lowest value is recorded at 1.70108.
- This exemplifies the considerable fluctuation through the day - an approximate range of 0.00721.
- Two most significant drops occurred around 09:00 and 19:00, where the exchange rate sharply decreases.
- Significant rises can be observed around 01:25 and 04:10, before gradually decreasing again.
In conclusion, there are certain aspects of instability in this exchange rate throughout the day. Whilst an absolute trend is hard to determine due to the short time frame of the data, the overall, noticeable trend is a very slight decrease. Crucial spikes in the rate might require deeper investigation pertaining to potential impacts of market news, global events, trade volume changes, or similar external triggers.