2024-05-03 Pound Sterling News
2024-05-02
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding of the Overall Trend
Looking at the dataset, the overall trend of the GBP exchange rate has experienced some variance throughout the period. It started off at 1.72012 at the beginning of May 2, 2024, and ended at 1.71491 by the end of the day, depicting a slight decrease. The exchange rate fluctuated throughout the day, reaching a peak of 1.7204 and a low of 1.71167. This suggests a certain level of volatility within this period.
Seasonality or Recurring Patterns
With regard to seasonality or recurring patterns, this dataset does not seem to show explicit patterns upon first glance, as is typical with financial time series data like foreign exchange rates. More extensive time series analysis methods might be necessary to uncover any hidden patterns or cyclic behaviour.
Noting of Outliers
The data does not appear to contain sharp spikes or drastic plunges, suggesting that there may not be severe outliers present. However, the relatively low rate of 1.71167 could be considered a minor outlier since it deviates from the trend. Nevertheless, such deviations are common in exchange rate data. It's crucial to note that in the realm of financial analysis, what may initially appear as an 'outlier' might, in fact, be an important event that needs further examination.
Please note that this outlook is a basic descriptive analysis based on the given data. More profound, inferential statistical methodologies would be required to confirm these observations and obtain further insights.
