2024-05-02 Mexican Peso News

Summary of Yesterday

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  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
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  • Difference of Daily High & Low:

Statistical Measures

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  • Standard Deviation:


Analysis of MXN Exchange Rate Time Series Data

The analysis of the provided time series data from 2024-05-01 00:00:03 to 2024-05-01 23:55:02 reveals several key findings regarding the trend, seasonality, and inconsistent instances of the MXN exchange rate. Here is what I found:

1. Overall Trend of Exchange Rates

The overall trend of the exchange rate appears to portray a general increase over the specified period. Starting at 0.08041 at the beginning of the dataset, the rate slightly fluctuates but generally increases to end at 0.08101. It should be noted, however, that these changes are marginal and don't indicate a strong or rapid increase.

2. Seasonality in the Exchange Rates

By dividing the data into hourly sections, we can see a pattern of regular fluctuation in the exchange rate throughout the day. This may suggest that the rate is influenced by certain recurrent factors, possibly tied to routine market activities. However, this pattern is not strikingly clear and would require further time series decomposition analysis to fully confirm.

3. Outliers

The dataset does not appear to have significant outliers. The rate changes, though varying at times, generally stay within a small range. The biggest change happens between 2024-05-01 09:35:03 (0.08081) and 2024-05-01 09:40:02 (0.08091), but this does not deviate greatly from the overall trend. Importantly, significant outliers would generally be expected to greatly deviate from the immediately surrounding data, which does not appear to be the case here.

It's important to note that this analysis is a general overlook and more sophisticated statistical analysis tools would provide a more in-depth understanding of potential patterns or irregularities within this dataset.

t May 1, 2024 May 1, 2024, proved to be a relatively quiet day for the Mexican Peso (MXN). In the world of forex, where rapid changes are the norm, the MXN showcased a fascinatingly steady profile, underscoring its invulnerability against major market shifts. During the course of the whole day, the exchange rate of the MXN commenced at 0.08041 at the start of the day but showed only minor fluctuations within a narrow range. In the early hours of the day, the value gravitated around an average of 0.08041, with negligible oscillation that still resulted in stable figures. As the day progressed, an intriguing trend emerged that seems to echo the characteristics of the foreign exchange market on this seemingly quiet day. In the morning, the value of the MXN per unit grew slightly to a peak of 0.08058. It remained fairly steady, and by late night, it closed the day with a value slightly higher than its opening, at 0.08101. While these variations could appear insignificant to a casual observer, they can be crucial for forex traders and businesses dealing in or with Mexico. These tiny vacillations can result in significant earnings or losses when dealing with large sums. The steadiness observed in the MXN''s exchange rate may have deep implications for Mexico''s economic prospects and investment potential. This stability could signal a strong, robust economy that is resilient to sudden shifts in the market—a comforting reassurance for potential investors. In terms of context, these figures indicate a certain degree of certainty and predictability in the MXN’s performance, something hugely valued by market traders. Stability in a currency often mirrors investor confidence and economic health, and this appears to be the case with the MXN. These developments have given a boost to speculation regarding global market conditions and the economic status quo. With ongoing unpredictable global events, maintaining an even keel like the MXN has done is nothing short of a remarkable feat. Even minor changes might signify a response to bigger economic events and factors impacting investor sentiments. Looking forward, market participants and observers will watch keenly to see if this stability remains or if more dynamic movements begin to emerge. In the ever-changing world of global finance, only one thing is certain: puzzle pieces are always moving, and the overall picture can change rapidly. Nothing is set in stone, and as always, it''s best to stay informed and ready for whatever the market brings next. MXN Exchange Rate Exhibits Minor Fluctuations Throughout May 1, 2024

Current Middle Market Exchange Rate

For information purposes only.