2024-05-07 Swedish Krona News

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

The overall trend of the SEK exchange rates in the provided dataset seems to fluctuate. The data starts at a rate of 0.12644, reaching a low of 0.12616, and then climbing to a high of 0.12695. It then spirals down to 0.12642 by the end of the given timestamp. Despite the volatility, the prices don't seem to stray far from the initial mark, indicating a relatively stable trend with minor fluctuations throughout the monitored period.

Seasonality or Recurring Patterns

Given the data set's brief period (one day), there is limited scope to gauge seasonality or recurring patterns. However, the rates do seem to experience movement around certain hours of the day. Drops are often observed in the early morning hours (00:00 to 03:00), while the rates slowly pick up towards mid-day (11:00 to 14:00) before tapering off towards the evening. However, it is essential to collate data over a more extended period and conduct further analysis to confirm any seasonality or recurring daily patterns.

Outliers and Significant Differentials

There is no considerable outlier observed in the provided timeseries data. The exchanges rates remain roughly consistent throughout the period, with minor fluctuations. The data does not indicate any sudden, major peaks or troughs that might signal anomalies or unusual activities in the exchange rates.

Limitations of the Analysis

It should be noted that this analysis is purely based on the numerical data provided. I did not consider external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports, which can significantly impact the exchange rates. Additionally, as the dataset spans only one day, this limits the ability to identify long-term trends, seasonality, and recurrent patterns, which typically become more evident over vaguely longer periods.

an unanticipated turn of events, the Swedish Krona (SEK) repeatedly fluctuated throughout the day. This phenomenon was captured in the time-series data reflecting changes in the exchange rate on the 6th of May 2024. The day began with a relatively decreased rate at 0.12644. In the initial hours, a slight deviation occurred in the exchange rate, reaching its minimal rate of 0.12616 at 03:00 am. Despite these early fluctuations, the SEK rebounded and steadily climbed towards a peak of 0.12655 by 06:00 am. However, this notable peak was just the beginning of the day''s trading journey. The SEK exchange rate peaked again at 0.12678 around 07:00 am, following this was a mild rebound. The fierce tug of war between the rising and falling rates continued throughout the morning before the rate marked its highest for the day by hitting 0.12698 at 07:45 am. Meanwhile, this uptick did not hold for much longer and slipped to 0.12676 by 08:30 am. Despite this fall, the market showed resilience as the rate bounced back to 0.12695 at 08:40 am. The firm resistance against downturns can be interpreted as a vitality signal of the SEK market. Nevertheless, the day’s trading saw more lows, with the rate dropping to 0.12642 at 10:10 am. Early afternoon trading witnessed the SEK rate plateau around the 0.1264-0.1265 mark, offering some stability after a tumultuous morning. However, the largest plunge of the day followed in the late afternoon as the rate dropped to 0.1262 at 16:55 pm; this printed the lowest level of SEK for the rest of the day. As we moved into the night, the SEK bounced back to 0.12655 levels again, and the market ended the day at 0.12633, returning to a more stable trading zone after a day of frequent and persistent fluctuations. The continuous fluctuations in the SEK exchange rate are not only impacted by domestic factors but also foreign markets'' trends. The global financial situation, the relationship between supply and demand in international financial markets, and the choices of major economies'' monetary policies all contribute to the SEK''s exchange rate volatility. Looking forward, a more finely balanced SEK exchange is expected. Investors should be prepared for further day-to-day fluctuations as the world economies continue to adapt to the post-pandemic market environment. While the future of currency exchange rates remain uncertain, one thing is clear: the SEK market continues to display both resilience and vulnerability, reflecting the more significant global economic landscape. Moving ahead, it will be intriguing to monitor these daily fluctuations and identify potential patterns that could signpost future movements in the SEK exchange rate. As always, such changes carry with them potential opportunities and risks for investors and businesses alike. Day of Steady Fluctuations in SEK Exchange Rate

Current Middle Market Exchange Rate

For information purposes only.