ILS Exchange Rate Witnessing Continuous Decline Over 2 Weeks
2024-04-21
Summary of Last Week
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the Overall Trend
The overall trend of the exchange rates shows a general decrease over the period shown. The exchange rate decreased from 0.37548 to 0.36537. Throughout the given dataset, we can observe a sequence of decreasing values. This suggests that there's been a downward trend of the currency in this period.
Seasonality or Recurring Patterns in Exchange Rates
Upon examining the dataset, there does not appear to be a clear seasonality or recurring patterns. The fluctuations in the exchange rates don't seem to follow a distinctive cycle that can be linked to a specific time of the day or specific days of the month. However, please note that confirming a strong seasonal pattern would require more advanced time-series analysis, such as implementing a frequency-based transformation or seasonal decomposition.
Outliers in the Dataset
Identifying outliers in the dataset based on the available data is challenging, given the inherent volatility in exchange rates and the limited data provided. It would seem the exchange rates only differ in the third and fourth decimal place; this could mean that significant changes are minor. However, one could argue that the increase in exchange rate on April 8th, 2024 was an outlier. The exchange rate jumped from 0.36114 to 0.3648. But, again, it should be noted that these variations may still be within an acceptable range for currency fluctuations.
For a more precise outlier detection, advanced statistical techniques could be applied, such as forecasting based on a fitted model and defining outliers as deviations from the forecasted values, or applying statistical tests such as Grubbs' test. However, these methods require certain assumptions and preprocessing steps and are out of the scope of current analysis.
Conclusion
In conclusion, the ILS exchange rate shows a general decreasing trend over the observed period. Identifying clear seasonal trends and outliers require a more in-depth time series analysis approach. The downward trend might suggest that the currency was weak during this time frame. However, further analysis is required to provide any solid conclusion or financial advice.
