2024-05-03 Latvian Lats News

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.

ket Vigilance In a potentially worrying economic development, the trading timescape of the last 24 hours has revealed a steady diminution in exchange rates. The data furnished points towards a significant downward slide in the LVL exchange rate, which warrants immediate attention of the stakeholders. As highlighted by the timestamped data, the LVL exchange rate started at 2.26855 on May 2, 2024, at 12:00 AM. By the end of the trading day, the exchange rate plummeted to 2.25909 at 11:55 PM—an overall decrease of 0.00946. Analyzing this micro-trend in detail provides us with a deep understanding of the sequence of fluctuations that dominated the trading activities of the said day and gives us a concise panorama of the macroeconomic considerations at play. The morning trading session saw a moderate level of volatility, with the exchange rate peaking at 2.26894 by 12:40 AM and reaching the day''s nadir at 2.26501 by 10:35 AM. However, the trend continued to spiral downwards as the day progressed. Despite a sporadic resurgence, the exchange rates hovered around the 2.260-2.264 range for the majority of the afternoon and evening sessions, underlining an atmosphere of cautious trading in the market. This dampening of LVL''s exchange rate is not an isolated occurrence, but an episode in the ongoing saga of global economic uncertainties. Economists postulate that these lower exchange rates point towards greater currency supply in the market, hinting at potential inflationary pressures should this trend persist. This steady depression in exchange rates could be symptomatic of larger economic issues. Factors such as the country''s economic health, projected inflation, and key economic policies can influence the foreign exchange market. A continued downward trajectory in exchange rates may lead to higher prices for imported goods, affecting consumer spending patterns and potentially slowing economic growth. In light of this scenario, investors and regulatory bodies should maintain heightened vigilance. While this data paints a grim picture, it''s merely a section of a larger economic tapestry—several other variables come into play in shaping economic trends. Exchange rates are also hugely speculative and can rapidly reverse. As we look ahead, it would be crucial for traders and investors to continue monitoring these market signals closely. A more profound analysis substantiated by long-term data could provide invaluable insights into the overarching economic trends likely to dictate market behavior in the foreseeable future. The trajectory of exchange rates and corresponding volatility will be among the top determinants of global economic health in the times ahead, making this a space to watch for all market participants. Steady Erosion in Exchange Rates Indicates Need for Market Vigilance

Current Middle Market Exchange Rate

For information purposes only.