2024-05-21 Silver News
2024-05-20
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
Overall Trend
Looking at the data, we can see that the overall trend of the XAG exchange rate is not stable throughout the given period. Starting from a rate of 43.89816, it initially experiences a slight uptick, reaching a peak at 43.96764 before declining sharply to a low of 43.10716. It then fluctuates considerably till the end of the dataset. The exchange rate, therefore, does not exhibit a uniform uptrend or downtrend but rather shows moments of both increases and decreases.
Seasonality and Recurring Patterns
From the data received, it is difficult to observe clear seasonality or recurring daily patterns in a strict sense without a larger dataset. The dataset given is for a single day, which may not be long enough to identify consistent fluctuation patterns. A much longer dataset that spans multiple weeks, months, or ideally a year, would be necessary to determine seasonality. Even then, due to the complexity of financial markets, exchange rates may not always exhibit seasonal patterns as numerous factors at play, such as risks, macroeconomic indicators, and geopolitical events, affect rates.
Outliers
Anomalies or outliers are observed in this data. For instance, there is a sharp dip to 42.76794, and subsequently, we witness a sharp hike to 44.04316, which could be seen as anomalies because they divert significantly from the rates observed during other periods. However, please note that these outliers don't necessarily represent errors or unusual activities in financial time-series data. They could be the result of a major economic event, geopolitical news, etc., that significantly affected market sentiment during that period.
In conclusion, financial time-series data such as exchange rates can be highly volatile and influenced by numerous factors making them challenging to predict or categorize in terms of simple patterns or trends. However, complex statistical analysis and machine learning models can sometimes uncover hidden patterns that aren't immediately apparent from a basic analysis. But as per the constraints here, we are only performing a simple analysis.
Note: The analysis strictly adheres to the dataset provided and does not consider external factors like market opening/closing hours or the release of key financial news and reports. Based on this brief analysis, no future rate forecasts are made.