2024-03-12 Norwegian Krone News
2024-04-23
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 Exchange Rates
The overall trend of the NOK exchange rate, as reflected in the dataset, appears to be relatively stable with minor fluctuations throughout a given day. The data indicated a beginning value of 0.12473 at the first timestamp (2024-04-23 00:00:02), and it closed at a similar level of 0.12545 at the last timestamp (2024-04-23 23:55:02). This suggests that there is not a significant upward or downward trend within the range of 24 hours, and the rate generally fluctuates within a relatively narrow band.
2. Identifying Seasonality and Recurring Patterns
In terms of seasonality, time series data usually require an annual or multi-year data to identify clear recurring seasonal patterns. However, within the given single day's hourly data, no discernible mark of seasonality can be accurately detected. The data tends to oscillate with quite regular amplitude without solid evidence of any seasonal effect. Considering its foreign exchange data nature, intraday seasonalities might be harder to discover within the exchange rates as they are more likely to be influenced by the international news, economical indicators release, market sentiment and liquidity conditions rather than traditional seasonality factors.
3. Noting Any Outliers
Looking at the timeseries data, it's difficult to identify any clear outliers from the summary statistics alone. There were few instances where the rates spike briefly such as at around 19:10:03 (0.12535), 17:55:03, 15:55:03 (both at 0.12529), 21:10:02 and 21:15:02 (both at 0.1255). However, these spikes seem to be followed by an immediate reversion to regular levels, suggesting these might be due to transient factors such as temporary periods of low liquidity or high volatility in the market. In conclusion, no significant outliers were observed, as the values did not deviate extensively from the general spread of the data.
