TWD Exchange Rate Shows Steady Growth Amid Market Uncertainty
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-14
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 above data provided for the TWD exchange rate, I can provide the following comprehensive analysis:Overall trend of exchange rates
Looking at the given timestamp in correlation with the TWD exchange rate data, there is a slight increasing trend in the exchange rate over time. Specifically, the exchange rate starts at 0.04219, lowers to around 0.04215, and ends at a slightly higher 0.04237. This upward trend suggests that the value of the local currency against TWD gradually depreciated over the given time.
Seasonality or Recurring Patterns
Regarding seasonal trends or recurring patterns, there appears to be continual minor fluctuations in the exchange rate. However, a clear pattern or seasonality, such as an identifiable repeat cycle over a specific period, is not evident in the provided dataset. Any minor ups and downs visible might be due to general market volatility rather than a precise, predictable pattern.
Outliers
Regarding outliers, one may note that the spike to 0.04238 near the end of the dataset could be considered as a slight outlier, as the exchange rate was relatively stable throughout the day around 0.0422. However, given the minor increase and the general fluctuations in exchange rates, this might not represent a significant aberration from the trend.
It should be noted that a comprehensive financial analysis usually takes into account various external factors. While this analysis was requested not to consider such factors, overlooking them might not provide a complete understanding of the currency exchange rate's behaviour. The impact of pivotal financial news or reports, market opening/closing hours, weekends or public holidays, and significant global events cannot be overstated.