2024-05-14 Silver News
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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
1. Understanding the overall trend of the exchange rates
The data shows that there is a varying but generally upward trend in the exchange rates from the start to the end of the period. There are changes in the rates throughout the period, with both significant increases and decreases, but the end rate is higher than the starting rate, suggesting an overall increase in the value of XAG. Fluctuations within this overall upward trend suggest that the rate is influenced by a variety of factors, consistently changing in value.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates
From the given data, it is hard to pinpoint any clear recurring seasonal patterns or cyclical changes in the exchange rates. Given the short period of time we are analyzing, it is also more challenging to identify seasonality as this often requires a longer time series data. However, there are some minor fluctuations that occur daily, suggesting there might be daily patterns tied to market activity.
3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality.
There are some instances where the exchange rate does appear to increase or decrease sharply in a short period of time, differing significantly from the general trend. These points are considered as outliers because they are not consistent with the typical pattern of changes. For example, notable increases at '2024-05-13 07:05:03', '2024-05-13 10:00:02', '2024-05-13 20:25:03', '2024-05-13 21:35:02' and sharp decreases at '2024-05-13 10:05:02', '2024-05-13 08:10:03' are of interest. Further insight into the factors that led to these significant changes would require additional information beyond the scope of the current dataset.
![Soaring XAG Exchange Rates Witness a Market Rollercoaster in a Day](http://currencymart.net/images/news/silver/2024-05-14/img-GeD3GjOHWti0RGRNpT3oGYuY.webp)