2024-04-29 Jersey Pound News
2024-04-28
Summary of Last Week
- 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 The Exchange Rates
This involves conducting an exploratory data analysis (EDA) on the exchange rates data. From the given data, we observe that the exchange rates seem to exhibit some degree of volatility over the period. Looking at the summary of these figures, the exchange rates appear to have marginally decreased from 1.71219 on 29th March 2024 to 1.7011 on 26th April 2024. However, it is also notable that the rates have not shown a consistent declining or appreciating trend. Instead, these have fluctuated over the period under consideration, with several instances of increases and decreases.
2. Identifying Any Seasonality or Recurring Patterns
When dealing with time series data, it's important to check for seasonality or recurring patterns. However, the data provided doesn't seem to show a clear seasonal pattern. The variations observed in the exchange rates are more likely related to market conditions, financial news, and economic indicators rather than seasonal factors. The data would need to be observed for a longer period and be subjected to rigorous seasonal decomposition to definitively identify clear patterns or seasonality.
3. Noting Any Outliers
An outlier is a data point that differs significantly from other observations. In this dataset, the exchange rate mostly fluctuates within the 1.69 to 1.73 range. There don't seem to be extreme spikes or drops that could be considered outliers. Detecting outliers accurately might require the use of statistical tests that were not conducted in this analysis.
In summary, the exchange rates exhibit some degree of volatility, with no clear trend or seasonality observed over the period under review. While outliers do not seem to be present in the data, a more detailed examination with appropriate statistical tests would be required to conclusively identify them.
