2024-04-29 Silver News
2024-04-28
Summary of Last Week
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Understanding the overall trend of the exchange rates
If we observe the XAG exchange rates over the period provided, we can note that there is a general upward trend in the exchange rate over time. Starting from a rate of 33.83751 on 2024-03-29, the exchange rate experiences fluctuations but gradually increases to reach a rate of 37.29395 on 2024-04-26. The trend indicates an overall rise in the exchange rate during this period.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates
An in-depth analysis of the dataset does not indicate any clear-cut recurring patterns or seasonality in the exchange rates. The values fluctuate and there doesn't seem to be any fixed cycle or pattern to these fluctuations within the given data. We would need a longer time series dataset to conclude on any seasonality effectively.
3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality
Throughout the dataset, there are no drastic outliers or instances where the exchange rate differs significantly from the established trend. However, it is important to note certain key increases or decreases. For Example, on 2024-04-12, the exchange rate jumped from 39.97122 to 40.76973 within a time interval. Similarly, on 2024-04-22 the exchange rate fell from 39.17421 to 37.5136 within a day. These instances while not being classified as 'outliers' do denote important fluctuations in the data set.
