2024-05-13 Malaysian Ringgit News
2024-05-12
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
Understanding the overall trend of the exchange rates
Upon analyzing the data, it is clear that the overall trend of the MYR exchange rate over the provided datasets fluctuates within a relatively small range. The rates have experienced both increases and decreases during different periods. However, there appears to be no general trend toward significant steady increase or decrease in the long run. Rather, the exchange rate seems to oscillate within a specified range, maintaining an overall sense of stability.
Identifying any seasonality or recurring patterns
With regards to the possibility of seasonality or recurring patterns, the time range provided isn't sufficiently long (for example, annual data) for a robust seasonal pattern to be visually apparent. However, due to the 24-hour nature of exchange-rate movements, it is common to see slight fluctuations driven by different global trading session times. Without specific market opening/closing hours, it is not possible to discern such patterns clearly from the given data.
Noting any outliers
This dataset seems to contain few major outliers. An outlier in such a dataset is typically a significantly larger or smaller value than what the prevailing trend or range suggests. It's worth noting that the presence of outliers often indicates extraordinary events that led to drastic changes in exchange rates. In this particular dataset, the daily fluctuations range does not differ significantly, implying the stability in the exchange rate movement within this timeframe.
External Factors
Although asked not to consider external factors in this analysis, it's worth mentioning that fluctuations in exchange rates can be determined by external forces such as geopolitical events, economic indicators, and international finance policies. Moreover, market opening/closing hours, weekends/holidays, and release of key financial news and reports can significantly impact exchange rates, leaving noticeable patterns in the dataset.
To summarize, this specific dataset displays a relatively stable exchange rate with minor fluctuations within a specific range, indicating a lack of drastic drops or spikes. Although no recurring patterns or seasonality have been identified, understanding overall market trends, the 24-hour trading cycle's impacts and potential influences from trading sessions, particularly in a broader dataset, could be beneficial.