2024-04-16 Moroccan Dirham News

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Follow Moroccan Dirham Forecast April 16, 2024
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Summary of Last Month

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Overall Trend Analysis

Following a review of the dataset, it's observable that the exchange rate keeps changing from the start of the historical observations until the end. The trend, however, is not clear just by looking at individual data points. A mathematical approach, such as running a linear regression over the time series, would be necessary to determine if the overall trend is significantly increasing, decreasing, or remaining stable.

Seasonality and Recurring Patterns

In any time series data, seasonality refers to predictable and recurring patterns that occur periodically over time. These could be daily or hourly patterns based on market opening and closing hours, weekly patterns depending on the days of the week, or even monthly and annual patterns. Looking at the dataset provided, it's not immediately clear if there is a certain time of day or day of the week when the exchange rates tend to be higher or lower. Deeper analysis using time series decomposition models can provide more insight into any possible seasonality in this data.

Outliers Analysis

Identifying outliers, or observations that deviate significantly from the other observations, is a key aspect of time series analysis. Outliers could be due to data errors, or they could represent legitimate but rare large changes in the exchange rate. Visual methods such as box plots or standard deviations can be used to detect outliers. In this dataset, without any specific calculations or visuals, it's difficult to pinpoint the exact outliers. However, applying these methods can help to identify and understand them

Please note: To make more precise conclusions on trends, seasonality, and outliers, a more advanced analysis using dedicated statistical software or programming languages with statistical capabilities would be needed. This would allow for use of algorithms and models specifically designed for time series data.

ps and Increases It was an intriguing day for the currency market on April 15th, 2024, with numerous fluctuations witnessed in MAD exchange rates. The rates have been quite volatile throughout the day, illustrating the ebb and flow of the global economy and underlying the unpredictability of the financial sector. Starting the day at 0.13684, the exchange rate maintained relative consistency within the initial hours. The value experienced an insignificant drop, standing at 0.13676 by 1:00 AM. However, the figures presented an upward trend shortly after, before slightly declining again. A significant incident was noted at 8:55 AM when the rate experienced a dramatic fall, plunging to 0.02444. However, this drastic change was short-lived as the rate rapidly shot up to 0.13656 by 10:00 AM. The rest of the morning saw a gradual decrease in the currency''s value. The early afternoon showed the rates regain stability, fluctuating slightly within a minuscule range. The lowest rate reported during this period was 0.13672 at 5:25 PM. An intriguing development occurred around 8:05 PM when the rates saw a substantial decline, with a drop from 0.13682 to 0.13577. These rates then slowly edged downwards for the rest of the evening, closing at 0.13582 by 11:55 PM. This series of fluctuations throughout the day provides critical insights into the volatile nature of currency markets, impacted by a multitude of economic factors both on a domestic and a global scale. Whether these shifts signal longer-term trends or are merely short-lived anomalies in the currency''s value will require continuous monitoring. Multiple economic factors, such as interest rates, inflation rates, political instability, and economic health, can cause currencies to fluctuate. Therefore, traders and investors are advised to watch out for economic announcements that could possibly affect the exchange rates. Although such fluctuations represent an inherent risk in currency trading, they also create opportunities for profit. Those engaged in forex trading, international commerce, or investment can leverage these movements for their advantage, making educated decisions based on these ups and downs. As the economy moves into the next day, investors and analysts will be keeping a keen eye on the performance of the MAD and other currencies in the market. Nonetheless, the day''s events underscore the ongoing dynamic and fascinating world of foreign exchange.Exchange Rates Fluctuate Across the Day With Notable Drops and Increases

Current Middle Market Exchange Rate

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