2024-05-02 New Israeli Sheqel News

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Follow New Israeli Sheqel Forecast May 2, 2024
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Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Based on the given data for the timespan of 2024-05-01 00:00:03 to 2024-05-01 23:55:02 (nearly a day's worth of data), a few conclusions can be drawn about the trend, seasonality, and outliers of ILS exchange rates.

Overall Trend

The overall trend of the ILS exchange rate in the given data shows a decrease. The rate begins at 0.36899 at the start of the day and ends at 0.36541 at the end of the day. As the data shows a descending trend over the timeframe, it is clear there's a downward shift in exchange rate value across this period.

Seasonality or Recurring Patterns

Given that the data spans a single day, it's difficult to discern any long-term seasonality or recurring patterns within this limited timeframe. Seasonality often refers to trends which repeat over a longer period for instance seasonally over a year or over week days. With only a day's worth of data, we can't make conclusive statements regarding these longer seasonal trends. However, a certain level of intra-day volatility is noticeable indicating there might be certain times in the day where the exchange rate is more volatile.

Notable Outliers

Outliers in financial data typically refer to instances where the rate returned an unexpected value as compared to the trends. Observing critical swings in the data, there are no prominent outliers. The maximum value observed within this data is 0.37011 and the minimum is 0.36489, values that don't seem extreme based on the overall data distribution. Any slight deviations in the exchange rate appear to align reasonably with the overall decreasing trend and thus may not be considered statistically significant outliers.

In conclusion, the ILS exchange rate displayed a downward trend over the course of this day and while there are some intermittent highs and lows, no significant outliers are readily apparent from this data. For more comprehensive analysis, a larger dataset covering multiple days to years might provide clearer insights concerning seasonality and long-term trends.

table May Trend The exchange rate for the Israeli Shekel (ILS) observed abrupt variations as per data obtained for May 1, 2024. This is noteworthy for forex traders and businesses with exposure to ILS who could use this information to adjust their strategies. The ILS started the day at a rate of 0.36899, but wasn''t able to maintain this level for long. Minor fluctuations were perceived during the first half of the day. The ILS managed to rise briefly around midnight to 0.36942 but fell gradually to 0.36763 by 06:15. Anyone seeking a favorable exchange rate would have been disappointed. However, as daylight wore on, ILS persistently tried to regain its strength and reached a peak at 0.37011 by 02:30. This represented the highest point of the day, a relief for those who had held onto their shekels, hoping for a better rate. For potential investors, this peak could have been a golden opportunity. Anyone who sold their ILS at this point would have maximized their returns. However, predicting such maneuvers in the forex market involves a high level of risk and requires careful analysis of emerging market trends. Not long afterwards, the rate declined again, steadily plummeted to a low of 0.36489 by 14:00. This dynamic trend in the exchange rate reflects the volatility inherent in forex markets, as rates can quickly change due to a myriad of factors, including economic indicators, geopolitical events, and changes in market sentiment. The shekel''s struggles didn’t end there, zigzagging through the day before ending with a slight recovery to 0.36541 by the end of the day at 23:55. This may suggest some resilience in the value of the shekel, even if the day was largely defined by depreciation. This tumultuous day in the forex market underscores the simultaneous opportunity and threat embedded within forex trading. On the one hand, fluctuations provide potential opportunities for high returns – if one times their trades correctly. On the other hand, it harbors significant risk if the market doesn’t move in the anticipated direction. Looking ahead, all eyes will be on how the ILS performs going forward. The irregularities observed in these 24 hours make it all the more critical for traders and investors to stay alert for potential developments influencing the value of the ILS. As always, an informed approach, backed by a comprehensive understanding of market dynamics, will be key to navigating any future uncertainties in the forex market.ILS Exchange Rate Undergoes High Fluctuation in Unpredictable May Trend

Current Middle Market Exchange Rate

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