ZAR Exchange Rate Witnesses Minute Fluctuations Amid Stagnant Market
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
1. Overall Trend of the Exchange Rates
The data provided shows minor fluctuations in the ZAR exchange rates over time. At the start of the period, the exchange rate was 0.07389, and at the end, it was 0.07367, a slight decrease. However, the movement between these points was not a straight line. There were periods of increase and decrease, which indicates that the exchange rate was influenced by several factors rather than following a clear trend.
2. Seasonality and Recurrence in Exchange Rates
From the data provided, there's no apparent seasonal or recurring pattern in the ZAR's performance over time. It would be deceptive to identify any predictable patterns since foreign exchange markets involve complex forces that drive infrequent fluxes and turnabouts. Therefore, even though short-term rises and falls were witnessed in the data, they cannot be ascribed to any known seasonal patterns.
3. Outliers and Significant Deviations
The dataset shows small, gradual changes in the ZAR's exchange rate. There seem to be no outliers, or cases where the exchange rate significantly deviated from the general trend. The rate all stayed within a narrow range of 0.07365 and 0.07411, and any fluctuations within this range were fairly consistent and systematic, without any unexpected spikes or drops.
4. Effects of External Factors
While the analysis requested does not account for external factors, it's worth noting that factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports can significantly impact exchange rates. These forces can cause the kind of short-term increases and decreases seen in the data, as traders respond to new information and the availability of trading opportunities changes.
