2024-04-22 Mexican Peso News

Summary of Last Week

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  • Difference of Daily High & Low:

Statistical Measures

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1. Understanding the Overall Trend of the Exchange Rates

Based on the time-series data provided, the MXN exchange rate seems to show a slight upward trend over the entire period observed. We begin with an exchange rate of 0.08084 on 2024-03-22 and end with an exchange rate of 0.07992 on 2024-04-19. However, the increase isn't uniform, and there are significant fluctuations within this period. It's important to note that these observations are put forward under the assumption that the provided data represent the entire data set and not a specific subset.

2. Identifying Seasonality and Recurring Patterns

At a glance, the data doesn't demonstrate clear seasonality or recurring patterns. However, a more detailed analysis, such as applying a Fourier transform or Autocorrelation function, would be needed to confirm this as these tools can help identify underlying cyclical patterns in the data. It's important to note that such patterns might not be immediately visible, especially in financial times series data, and require more sophisticated methods for their detection.

3. Outliers in The Exchange Rates

While it's challenging to confidently identify outliers without the explicit data visualization or without performing a statistical test such as Grubbs's test, the data point on 2024-04-18 with a much lower than usual exchange rate of 0.07866 may be considered an outlier. This is because this rate is considerably lower than the rates observed immediately before or after this timestamp. However, this would need to be confirmed with a statistical outlier detection method.

Remember, outliers could be due to several reasons in financial data including significant financial events in the market or perhaps even due to some data entry or gathering error. Therefore, further investigation is often required to understand the reasons behind each outlier.

ns Over Two-Week Period Marked by intermittent highs and lows, the Mexican peso (MXN) exchange rate has put on an intriguing performance in the past two weeks. This volatile movement outlines a dramatic story that ventures beyond the basics of interest rates or economic indicators, opening up a multifaceted financial narrative. The story commenced on March 22, 2024, when the MXN exchange rate recorded 0.08084, a figure relatively stable with insignificant deviations. However, within the tight confines of such stability, oscillations began to occur, painting a picture of market dynamics influenced by various factors that continually shape the currency''s value. An upward trend was observed from March 22nd to 25th as the MXN progressively stepping up to 0.08147. Yet, this rise was then interrupted by a temporary downturn which saw the MXN slightly retract to 0.08114 by March 26th, before resuming its climb once more, reaching a peak of 0.08217 by March 27th. Throughout the period from March 28th to April 8th, the MXN witnessed a largely incremental progression, punctuated by minor fluctuations, which finally culminated in a high of 0.08344 on April 9th. This was, however, short-lived as the MXN began steadily tumbling after this point, hitting a trough of 0.08224 on April 12th. The subsequent days saw the MXN struggling to rebound, grappling amid contrasting market forces. The downtrend was halted temporarily when the MXN climbed to 0.08337 on April 11th, only to plunge again to 0.08049, registering its lowest on April 18th. This unsteady climb of the MXN betrays market anxieties reflected onto the currency''s value. Yet, what appears as unpredictability, are in fact calculated reactions to macroeconomic indicators, geopolitics, and other sociopolitical elements that play an integral role in the forex market. Understanding such fluctuations provides an investment edge in the currency market. As market sentiment and reactions influence forex significantly, a keen eye on such volatile periods can generate profitable investment opportunities. Furthermore, the role of the MXN as a representative for emerging market currencies gives these vicissitudes a heightened level of significance. Going forward, investors and market watchers need to keep tabs on impending economic announcements, both within Mexico and globally, that could potentially influence the MXN''s performance. Furthermore, geopolitical events and shifts in trade policies could also significantly impact the currency''s trajectory, underscoring the need for continued vigilance and dynamic interpretation of the market''s pulse. This winning combination of keen observation and pragmatic prediction is key in navigating the uncharted waters of forex investment. Unsteady Climb: MXN Exchange Rate Experiences Fluctuations Over Two-Week Period

Current Middle Market Exchange Rate

For information purposes only.