2024-05-03 Latvian Lats News
2024-05-02
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 Analysis
The data provided contains exchange rates (LVL) over a given timestamp. When observing the overall trend within this dataset, there is no clear indication whether the rates increase, decrease or remain stable specifically as it fluctuates around the 2.26 - 2.27 range. The precise trend could be determined more clearly with a graphical analysis such as line plots.
Seasonality and Recurring Patterns
Regarding seasonality or recurring patterns in the changes of exchange rates, the information could be more precisely determined by conducting a time series decomposition analysis. This type of analysis will break down the time series data into trend, seasonality, and residual components. It would require a larger dataset and potentially favour a nuanced analysis of cyclical patterns over time. However, within the provided dataset, no clear seasonality or recurring patterns can be identified with certainty.
Identification of Outliers
Analysing outliers in a dataset involving financial markets can be tricky because what may appear to be an outlier could, in fact, be a possible reaction to an external event or information that we are not considering in this analysis. That said, we didn't spot any significant outliers in the provided exchange rates at a glance. In-depth outlier detection could be made using methods like the Z-Score or the IQR methods which give more reliable results statistically.
External Factors
Although not required for this analysis, it's worth noting that exchange rates can be highly influenced by market opening/closing hours, weekends/holidays, and the release of key financial news and reports. These external factors often cause sudden and significant fluctuations in the rates. Including such events in the analysis would provide a more comprehensive understanding of the movements in the exchange rates.
In conclusion, a deeper analysis with more focused methods is recommended to better understand this dataset.