Notable Increase in SRD Exchange Rate A Steady Climb in April 2024
2024-05-12
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
Assessment of Overall Trend in Exchange Rates
The dataset provided spans from April 12, 2024 to May 10, 2024. Across this timeframe, the exchange rate of SRD shows a mild increasing trend. I arrived at this conclusion by following the chronologically listed data points. In particular, the rate started at 0.03941 on April 12, 2024 and ends at 0.04181 on May 10, 2024. Although there are fluctuations throughout the period, the general trend seems to be upward.
Seasonality or Recurring Patterns
In terms of seasonality, this dataset does not provide clear evidence for any regular or recurring patterns. However, given the nature of currency exchange rates, these are often influenced by cyclical economic cycles, news events, or periodic market developments which this dataset may not cover extensively as it only captures a relatively short period (less than a month). Therefore, a comprehensive seasonal analysis would necessitate a longer dataset, ideally covering several years.
Outliers Identification
Outliers or unusual values in the dataset are usually detected by their deviation from the general trend. In this dataset, there don’t appear to be any extreme spikes or drops that deviate significantly from the general trend. However, on the 6th of May the exchange rate jumps from 0.04064 to 0.04119, which is a relatively larger change compared to other timestamps. Despite this, it does align with the overall upward trend observed and hence, cannot be conclusively termed as an 'outlier'.
Factors Influencing Analysis
It's worth mentioning that the interpretation of this dataset is purely based on numerical observation. Factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports could have profound impacts on currency exchange rates, yet these factors have not been considered in this analysis as specified in the instructions.
Future Predictions
Per the instructions, no future predictions have been made using this dataset.
Please note that this analysis is based on the assumption that the dataset is accurate and complete, and that this provides a general picture of the exchange rate movement during this particular period.
Suggested Further Analysis
For a more comprehensive and detailed analysis, having access to a larger dataset, preferably spanning multiple years, would be beneficial. This would allow for deeper insights into potential long-term trends, seasonal patterns, and the impact of specific events or factors on the SRD exchange rate.
