2024-05-22 Silver News
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2024-05-21
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend Analysis
The exchange rate (XAG) data from May 21, 2024, shows some variability throughout the day. By evaluating the start and end points, the rate begins at 42.77 at the start of the day and ends at 43.25 at the close of the day. This points to a slight upward trend. However, the increases are not consistent, as there are periods of decrease. Moreover, the highest exchange rate recorded during the day was 44.03, indicating there were periods of significant growth that were then followed by decreases.
Seasonality and Recurring Patterns
While this dataset only covers one day's worth of data, and thus may not provide comprehensive insight into seasonality, some patterns can be observed. For instance, there appear to be frequent fluctuations in the exchange rates throughout the day, indicating probable intraday volatility. The most significant spike seems to occur around the 08:30 to 09:15 timestamp. The data seems to show a pattern of growing to a peak followed by a dip, suggesting there may be some cyclical pattern.
Outliers and Unexpected Results
A few instances of significant fluctuations in exchange rates stand out. Around 08:30, there is a significant jump from 43.34 to 43.46, which then accelerates to reach a peak at 44.03 by 09:15. Another notable drop is seen around 10:45, where the rate drops from 43.34 to approximately 43.27 within a span of just 5 minutes.
There are also several periods where the rate remains more or less stable despite the usual fluctuations. For example, after 14:00 until 15:15, the rate hovers around the 43.72 to 43.74 mark. These can also be considered unexpected results, given the trend of constant fluctuation noted elsewhere in the dataset.
It is important to note that this analysis does not account for potential time-dependent factors such as market opening/closing hours, weekends/holidays, or the release of key financial news or report. Those elements can heavily influence exchange rates and may explain some of the patterns and outliers noted.
Conclusions
Based on the analysis, the exchange rate showed a slight upward overall trend but with significant fluctuations and a possible cyclical pattern during the day. It also demonstrated periods where the rate is relatively stable. A few potential outliers and unexpected results were also identified. It is recommended to conduct further analysis with more datasets for a complete and more indepth understanding of the patterns and factors influencing these exchange rates.
![XAG Exchange Rate Witnesses Rollercoaster; Peaks At $44.03 Amid Fluctuating Market](http://currencymart.net/images/news/silver/2024-05-22/img-p3XP4aNJnWF7GLVzqhohjdjj.webp)