2024-05-08 Isle of Man Pound News
2024-05-07
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. Understanding the Overall Trend of Exchange Rates
Looking at the provided data set, there seems to be an overall upward trend in the exchange rates. Starting from an IMP exchange rate of 1.7043 on 2024-05-07 00:00:02 to 1.71314 on 2024-05-07 23:55:02.
The lowest exchange rate during this timeframe is 1.70297, whilst the highest is 1.7139. Whether rates generally increase, decrease, or remain stable can vary greatly depending upon immediate market conditions, although in this data set, the exchange rates have generally increased.
2. Identifying Seasonality or Recurring Patterns in The Data
Looking at the data, there does not seem to be any strong clear seasonality or recurring patterns in the dataset. As the data only spans a period of less than one day, identifying this can be difficult. Fluctuations appear to have occurred throughout the day, but without more data, it is challenging to pinpoint if these are recurring trends or simply random fluctuations.
3. Outliers in The Data
In terms of outliers, these would be instances where there has been a significant jump or dip in the exchange rate that does not align with the overall trend. From a cursory look at the data set, none appears to be significantly larger or smaller than the surrounding data.
However, there may be finer details that are not apparent from a high-level overview and therefore a more detailed analysis may be needed to identify any potential outliers. It is also worth mentioning that a degree of fluctuation in exchange rates is normal and expected due to the nature of the foreign exchange market.
