2024-05-14 Nuevo Sol News

Summary of Last Month

  • 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 of the Exchange Rates

Upon inspection of the data, the overall trend of the exchange rates showed a slight but consistent decrease from 0.37044 to 0.36834. It indicates that over the period shown, the exchange rate of the PEN generally decreased. However, the changes in the rate were minimal suggesting that the rates remained relatively stable in this timeframe.

Seasonality or Recurring Patterns in the Exchange Rates

Based on the given data, it is challenging to identify seasonality or recurring patterns as it lacks a clear cyclic variation—for instance, weekly or monthly. However, there is a consistent fluctuation in the exchange rate: it consistently but slight decreases over time, increases a bit, and then decreases again. This pattern repeats throughout the entire time series.

Outliers in The Exchange Rates

The most significant drop in the exchange value occurred around 06:20 on 13th May 2024, plummeting from 0.37041 to 0.36811. This significant drop differentiates itself from the otherwise stable and incremental trend, thus it can be marked as an outlier or unexpected event. However, lack of additional information makes it tricky to sway what factors might have precipitated this drop.

Kindly note that this analysis is fully data-driven relying on the provided time series data and does not take into consideration outside factors such as market opening/closing hours or key financial news and reports.

nomy Under heavy market fluctuations,the Sol (PEN) has experienced a substantial shift on May 13th, 2024. The rate began at 0.37044, fluctuated throughout the day, and ended at 0.36834. Several factors may have led to these changes. However, a closer examination is necessary to isolate the root cause. Financial experts speculate it could result from the interplay of market demand and supply shifts on the local and international market arenas. At the outset, the rate was relatively stable. It showed slight dips and climbs but overall remained above 0.37000. Given these observations, it seemed the first half of the day presented no surprising actions from investors. In contrast, the second half of the day told a different story. Starting about half past six in the morning, there was a sharp plunge to 0.36811 with additional minor plummets seen in the following hours. The rate remained unsettled, with fast-paced and frequent changes that created a volatile trading arena. Analysts believe various factors such as geographical political uncertainties, economic policies, and ongoing trading sessions in other parts of the world may have provoked this situation. It''s also worth considering possible shifts in investor sentiment or trader behaviour as potential causal factors. As the day progressed, the exchange rate fell below 0.36800, creating a different trading landscape altogether. Despite some efforts to regain its foothold above this limit, PEN couldn''t break barriers and comfortably sit above 0.36800. The rate at this point reached the day’s low. However, PEN managed to recover slightly with peaks and troughs until closing at 0.36834, still below the initial rate, thereby highlighting the day of intense rivalry amongst the broad base of traders. This price movement has significant implications. On one hand, it shows the vulnerability of PEN to sudden shifts in market sentiment and economic factors. On the other, it could offer profitable trading opportunities for those capitalising on such fluctuations. It is key to note that while such occurrences can cause headaches for short-term traders due to the increased volatility and risk, for long-term investors, these might be more tolerable given their extended time horizons. Looking ahead, market participants will be keenly watching the central banks and policy makers for any changes to monetary policy, which could impact exchange rates. Additionally, announcements on macroeconomic indicators will also play a critical role in shaping PEN''s future direction. In conclusion, this seemingly ordinary day of trading proved to be a ground for unexpected PEN movement, taking many traders by surprise, and reminding everyone of the unpredictable nature of financial markets. Exchange Rate Fluctuations Unveil Unpredictable PEN Economy

Current Middle Market Exchange Rate

For information purposes only.