2024-05-15 Isle of Man Pound News
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2024-05-14
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the overall trend of the exchange rates
The overall trend of the exchange rates appears to be slightly downward during the entire period given. The highest exchange rate observed was 1.71869 at 03:20, and the lowest was at 08:15 with a value of 1.71298. However, it is essential to note that the range between the maximum and minimum value is very small (0.00571), indicating a reasonably stable rate within the given timeframe.
Identifying any seasonality or recurring patterns in the changes of exchange rates
Investigating the given dataset, it might be somewhat challenging to identify clear seasonality or recurring patterns in the changes of exchange rates. This is primarily because the timespan covered is just over 24 hours, which is usually insufficient to effectively observe such long-term trends. Nonetheless, an initial examination shows some degree of volatility during the day, with values peaking around the hour of 03:20 and reaching their lowest point around 08:15.
Noting any outliers
Regarding outliers, the dataset doesn't appear to have significant anomalies or instances where the exchange rate differs notably from what would be expected based on the trend. The highest and lowest points mentioned before could be seen as mild outliers; however, they seem part of the overall downward trend rather than true outliers. An exhaustive exploration might require deploying statistical tests that have not been implemented in this particular analysis.
Please note that this analysis is of a broad nature and does not take into account micro-level changes at the minute or second level. Furthermore, external factors like the opening and closing of different global financial markets across various time zones, weekends and holidays, release of key financial news and reports, and geopolitical events can significantly impact the exchange rates.
![IMP Exchange Experiences Volatility Amid Economic Turmoil](http://currencymart.net/images/news/isle-of-man-pound/2024-05-15/img-yrI5jIbk2BSXraEmwl1S1rd0.webp)