2024-05-22 Moroccan Dirham News

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

From the dataset provided, it can be observed that the exchange rates demonstrate a somewhat stable pattern with minor fluctuations. The rates start at 0.1375 and end at 0.13742 over the given period, implying a slight decrease overall. Nevertheless, in between, these numbers exhibit frequent ups and downs suggesting fluctuations in the exchange rate within this narrow range.

2. Identifying Seasonality or Recurring Patterns

Since the dataset provided spans a single day from midnight to midnight, any evidence of seasonality or recurring patterns within a day would require additional days of data to verify. However, within the bounds of this data, no clear short-term, intraday seasonality or recurring patterns can be discerned. As mentioned earlier, there is a general tendency to slightly decrease, but no clear recurring peaks or troughs can be observed within a day in this dataset.

3. Outliers

In the context of the provided dataset, there do not seem to be noticeable outlier values. All MAD exchange rates fall into a similar range, with no drastic dips or surges that would indicate an unexpectedly low or high rate compared to the general trend within the day. However, precise identification of outlier values could require more complex statistical analysis or modelling, which could provide a more definitive answer.

4. Considerations for Analysis

While we were asked not to explicitly factor in events such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports, it's essential to note that such factors could indeed have considerable impacts on exchange rates in real-world conditions. This static snapshot of data may not encapsulate these effects, potentially limiting the depth of our understanding of the factors influencing these rates. Furthermore, as stated, the data provided only spans a single day, which could limit the scope of analysis in terms of understanding longer-term trends, patterns, and seasonality in the exchange rates.

hout the Day The exchange rates for the Moroccan Dirham (MAD) experienced minor alterations marked by slight increases and decreases throughout the 21st of May, 2024, according to the time-series data obtained. The day started off with the MAD sitting at a rate of 0.1375, according to records from midnight. Further analysis of the data reveals a series of subtle rises and dips throughout the early morning hours until a slight uptick occurred, ticking the rate up to 0.13752 at 00:40 AM. This was followed by a very mild decrease, and the rate generally wavered around 0.1375 until around 06:25 when a significant drop to 0.13731 was recorded. This dip set off a chain of minor decreases which brought the MAD down to 0.13718 by 07:05 AM. However, the currency bounced back and saw a steep climb to 0.13765 by 07:45. This was the peak value of the day which did not last long as the MAD had another set of declines and increases throughout the morning and early afternoon. The most remarkable event of the day seems to be the dramatic climb to a rate of 0.138 by 13:05 PM. This marked the start of a new trend of stability as the MAD fluctuated very mildly around the 0.138 mark for the rest of the day until it dropped significantly to 0.1373 at 20:05 PM. Such a rather calm performance of the MAD, marked by only minor fluctuations, could be attributed to a stable economic atmosphere, with no major news or events impacting the currency''s performance. These minor changes can be decisive for forex traders who trade on small price movements. Despite slight shifts throughout the day, the MAD appears to have maintained an overall stability. It is worth noting, however, that the financial market is ever-evolving, and the slightest news can bring vast changes in the rates. Market participants should stay alert and watch for any key indicators or shifts in the economic landscape that might affect the course of the MAD in the future. Looking ahead, economic analysts and traders alike will be keeping a keen eye on the performance of the MAD and the factors influencing it. With varied speculation about the course of the global economy, only time will tell how the MAD will fare against the changing tides of the economic sea.Minor Fluctuations Observed in MAD Exchange Rates Throughout the Day

Current Middle Market Exchange Rate

For information purposes only.