2024-05-08 Malaysian Ringgit 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 the Exchange Rates
Overall, the dataset shows a small incremental increase in the exchange rate of MYR over time. It starts with a value of 0.28855 and throughout the period, it generally seems to increase, ending at 0.28974. This indicates that over the periods shown in the dataset, the MYR has been slightly strengthening. However, it's important to note that the fluctuations are relatively minor and the overall change isn't extreme.
2. Identifying Seasonality and Patterns
At a basic level of analysis, it is difficult to conclusively identify any recurring patterns or clear seasonality directly from the dataset. The exchange rate exhibits periods of slight increases and slight decreases, but there is no consistent pattern that is discernible across the same hours on different days. The rise or fall in rate fluctuates sometimes in multiple times within an hour.
There seems to be a larger shift in the data at a few points, however, without a specific timestamp or additional information, it is difficult to establish a factor that could be influencing these larger shifts. It should be mentioned that more in-depth analysis using advanced time-series methodologies might be able to extract more sophisticated patterns and seasonality components.
3. Noting Outliers
There does not appear to be any extreme outliers in the data. Most exchange rate values are within a few hundredths of a difference from each other. As previously noted, there are larger shifts that occur, however, in the context of the entire dataset, these changes do not significantly alter the expected range of the exchange rate.
However, it is crucial to note that this analysis is a high-level overview. A statistical analysis may be able to identify subtle outliers and would provide a more accurate assessment of the dataset. A proper study would likely need to use measures of central tendency (like mean and median) and spread (like standard deviation and variance), along with a more advanced graphical analysis.
