2024-05-14 Rand News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-13
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
Data Analysis:
After examining the provided dataset, a few key points emerged regarding the time series analysis of the exchange rate information:
Understanding the overall trend:
The provided data starts from an exchange rate of 0.07421 and ends at 0.07447. The overall trend is fairly stable with slight fluctuations. However, observe a gradual, albeit slight, increase in the exchange rates across the data period which indicates that the ZAR has strengthened against the given currency in the timeframe provided in the data. An exact rate of increase or decrease is hard to define given the minute fluctuations. However, the overall upwards movement is clear to see.
Identifying recurring patterns:
Upon analyzing the data, a clear cyclical pattern isn't immediately apparent. However, there does appear to be a possible pattern of fluctuation within specific time frames. For instance, small consistent increases over approximately 5 minute periods followed by a decrease, before repeating the cycle again. While these variations are so slight that they would be insignificant for smaller forex transactions, for larger transactions these tiny variations can add up and need to be considered when planning for forex activities.
Identifying outliers:
No immediate outliers appear in the data. The exchange rates present minor fluctuations throughout the dataset but remain within comparable bounds. This suggests that no unexpected events had a significant influence on the exchange rates during the recorded period. It should be noted that certain time points do experience slightly larger changes than average but remain within the general trend and do not significantly diverge from the norm.
Please note that this analysis was done considering only the dataset provided and did not include outside factors such as the influence of the opening and closing of markets, public holidays, or major financial news. Further analysis incorporating these factors may unveil more complex patterns or trends.
![ZAR Exchange Rate Sees Marginal Fluctuations Throughout the Day](http://currencymart.net/images/news/rand/2024-05-14/img-kr7xe2yycGrQocVH8tRyVKrh.webp)