2024-05-10 Nakfa News
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2024-05-09
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis Overview
This is a time-series analysis of ERN (exchange rates) over a specific period (2024-05-09 00:00:02 to 2024-05-09 23:55:02). The main focus will be on identifying trends, analyzing patterns/seasonality, and detecting potential outliers.
Understanding The Overall Trend
The ERN exchange rate throughout the day does not seem to exhibit a clear upward or downward trend. The exchange rate started the day at around 0.09151 and ended the day around 0.09126. While there is a slight decrease, the exchange rate remains quite consistent most of the time. A more extended period or additional data points might reveal a more explicit trend.
Identifying Seasonality
Within the given 24-hour period, there doesn't appear to be much seasonality in the exchange rate changes. While minor fluctuations are apparent, there isn't a clear pattern of the rate increasing or decreasing at specific times. Further analysis using data over a longer duration, like weeks or months, may paint a clearer picture for seasonality.
Noting Outliers
There doesn't appear to be any significant outliers in the given data. The largest exchange rate recorded is around 0.09158, and the lowest is around 0.09115. This relatively negligible difference indicates that the exchange rate doesn't fluctuate wildly within this 24-hour period. All changes fall within a logically expected range.
Final Thoughts
To summarize, the ERN exchange rate fluctuations within the given one-day period are minor, no clear trend can be discerned from such a short-term dataset, and the changes do not show any discernable seasonality. Further long-term analysis with more data points may provide additional insights into the behavior of the ERN exchange rate.
![Unexpected Stability in ERN Exchange Rates Recorded in Day-Long Analysis](http://currencymart.net/images/news/nakfa/2024-05-10/img-TnL8qzJxg5til6uHdDTUnV3I.webp)