2024-05-17 Philippine Peso News

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Follow Philippine Peso Forecast May 17, 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

Overall Trend Analysis

From an overview of the given time-series data, we observe a gradual downward trend in the exchange rates (PHP) over the entire timestamp provided. While there are minor fluctuations both upwards and downwards, the general trend seems to be a slight depreciation in the value of PHP.

Seasonality or Recurring Patterns

Although the dataset doesn't cover a long enough period to confidently infer any seasonality or recurring patterns, it's worth noting several instances of short-term stabilisation. These periods, where the exchange rate remained nearly constant, may indicate particular times of day or specific settings in which the exchange rate becomes more stable. Further data, particularly when taken over a course of full financial year, might expose more pronounced seasonality or recurring patterns.

Outliers Identification

Given the data, there isn't an apparent appearance of any significant outliers. This indicates that the exchange rate changes over the provided timestamp were generally consistent with the overall trend. There are no instances where the exchange rate differs significantly from what would be expected based on the observed trend.

While the goal of this analysis was to not consider external factors such as market opening/closing hours or the release of key financial news and reports, it's worth mentioning that such factors can significantly affect exchange rates. A more detailed analysis might take such factors into account to provide a more comprehensive view on the movement of the exchange rates.

Note that the inferences drawn above are based on the provided data; forecasting future rates or identifying the cause of the overall trend is outside the scope of this analysis as per the given instructions.

ing Period The Philippine Peso (PHP) experienced minimal fluctuations over a 24-hour trading period on May 16, 2024, according to a recently analyzed time-series data. The PHP exchange rate journey began at a rate of 0.02378 at the start of the day, managing to maintain near-stability during the early hours. The currency oscillated within the same range for a significant initial period, with fleeting changes observed before reducing ever so slightly to 0.02374 by the second hour. A drop to 0.02370 was observed by mid-morning. This trend, though temporary, indicated the start of a minor depreciation phase for the currency. However, the decline did not reach alarming levels and remained within the general trading margin. Interestingly, the rate recovered to its initial value by late afternoon, demonstrating the resilience of PHP against market forces. Throughout the 24-hour period, minor changes were the norm, with the exchange rate only differing by approximately 0.00008, indicating the stability of the currency amid dynamic market movements. However, as midnight approached, the PHP depreciated slightly, reaching 0.02361. The data illustrated the currency''s consistency despite shifts in the market landscape. While slight ups and downs are inherent to any financial market, the relative stability of the PHP exchange rate over the trading day underscores the strength and resilience of the currency. Experts suggest this helps foster a more predictable and stable economic environment where businesses and investors can plan accordingly. Significantly, this stability also points to the steady state of the country''s macroeconomic fundamentals. Low exchange rate volatility often reflects sound monetary policy, manageable inflation levels, and robust external accounts, all of which suggest that the Philippine economy is in a healthy condition. Nevertheless, monitoring these minute-to-minute fluctuations is crucial for traders, investors, and businesses as they provide valuable insights into the currency''s possible future directions and market trends. Looking forward, investors and traders should stay vigilant about various factors that may influence the currency''s movements such as domestic economic indicators, global financial market trends, and geopolitical developments. As the global economy continues to evolve and navigate through uncertainties, the diligent tracking of incremental currency changes will be even more pivotal in navigating sound financial decisions.Stable PHP Exhibits Minor Fluctuations Over 24-Hour Trading Period

Current Middle Market Exchange Rate

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