2024-04-19 Norwegian Krone News
2024-04-18
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend Analysis
From the data provided, we observe a slight downward trend in the exchange rates over the period. At the beginning of the dataset on 2024-04-18 00:10:02, the exchange rate is 0.12526. Toward the end of the dataset on 2024-04-18 23:55:02, the exchange rate is at 0.12454. This indicates a small decrease in value of the exchange rate over time; however, this trend is not very strong and the fluctuations in exchange rates are narrow within the period.
Seasonality or Recurring Patterns
In the given one day time period, a clear seasonality or recurring pattern is hard to discern primarily due to the short time span. Exchange rates often have patterns over longer time periods such as weeks, months, or quarters depending upon a multitude of factors such as monetary policy, inflation rates and political stability. In this case, the exchange rate appears fairly stable throughout the day, with minor fluctuations.
Outliers
Instantaneous examination of the dataset didn’t expose any significant outliers in this dataset. The values fall within a narrow range, and don't deviate significantly from the general trend outlined earlier. Nevertheless, a deeper statistical analysis can be performed to identify if some specific instances are indeed outliers.
Note: As per the requirement, this analysis didn't consider any external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports and didn't generate any forecast for future rates.
Conclusion
In conclusion, over the given one-day period, the NOK exchange rate shows a minor declining trend with rates generally remaining stable. The dataset does not show a clear pattern of seasonality given the short time span. No glaring outliers were found in the dataset which could potentially disrupt the trends.
However, it is important to remember that exchange rates can be influenced by a host of factors, and longer time frames may be required to see notable trends and patterns. Furthermore, statistical tools can give more insights into identifying complex patterns and anomalies.
