2024-05-14 Swedish Krona News

Summary of Last Month

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  • Difference of Opening & Closing:
  • Daily High:
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  • Difference of Daily High & Low:

Statistical Measures

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Trend

Analysis of Exchange Rates Over Time Period

The data provided represents the changes in the exchange rate (SEK) over time, between 2024-05-13 00:00:02 and 2024-05-13 23:55:02. The specifics of that trend are broken down as follows.

1. Overall Trend of Exchange Rates

The overall trend of the SEK exchange rates within this period appears to fluctuate within a confined range of values, with variations of the rates that increase and decrease intermittently over time. The starting exchange rate is 0.12615 while the closing exchange rate is 0.12607. The highest exchange rate recorded was 0.12636 and the lowest was 0.12585, indicating an overall variance of 0.00051 across the timeline. The variation in the exchange rate is quite small, indicating some level of stability in the SEK exchange rate during this period.

2. Seasonality or Recurring Patterns

From the data provided, there doesn't appear to be any evident seasonality or recurring pattern in the exchange rates. The rates appear to fluctuate at seemingly irregular intervals. A more detailed analysis with a wider range of data and more sophisticated tools may reveal a deeper pattern or seasonality.

3. Outliers in Exchange Rates

From a surface-level analysis, there don't appear to be any outliers; the exchange rate data values are contained within the range of 0.12585 - 0.12636, a remarkably small range considering the data spans a trading day. Every recorded value is relatively close to one another, with no noticeable deviations.

Please note that this analysis does not take into account the opening and closing hours of markets or consider any potential impacts of financial news or reports released during this period.

/h1> Financial markets on the SEK trading front saw a subtle undulation on May 13, 2024, keeping investors on their toes. The exchange rates offered an interesting trend particularly during the early morning and late evening hours. Kicking off at midnight at an exchange rate of 0.12615, the SEK saw slight fluctuations maintaining an average value around the 0.126 marker throughout the day. While there has been an observable minor drop reaching the lowest point of 0.12585 at 03:10 AM, the value of SEK rebounded soon after, with values quickly creeping up to 0.1262 noted at 01:45 AM and subsequently towards the evening at 16:15 PM. According to the analyzed data set, it is apparent that the SEK value was prone to variability, within a nominal range, throughout the day, however, it has managed to maintain a steady average. This is an impressive feat, considering the volatility inherent in the forex market. The currency''s performance during the day confirms the strength underpinning the SEK amidst a highly competitive and volatile forex market. Changes in exchange rates reflect the dynamic forces of supply and demand in global economy, eventually disclosing investor sentiment towards perceived economic prospects. Investors were able to take advantage of these slight fluctuations, allowing for profitable trades within shorter spans. This trend demonstrates the critical role of time in shaping forex trading strategies. On analyzing multiple data points across the day, we can also point out the fact that the highest SEK exchange rate was 0.12636, occurred twice during the mid-morning hours of 9:50 and 9:55. Simultaneously, the overall exchange rates do not cross path with any extreme highs or lows, which denotes a degree of stability in the money market scenario. As we progress in the world of financial trading, speculations regarding the future rates assume great significance. These small but noticeable changes reflect broader shifts in the domestic and global economy, as well as market sentiments, which include but not limited to geopolitical tensions and economic policies. However, predicting future exchange rates right down to the last decimal point can be an elusive task. For now, traders institute precautions and compile a risk management strategy as part of their trading activities. Moving forward, it will be interesting to monitor the trends in the SEK exchange rates, particularly if the fluctuations begin to demonstrate a more pronounced volatility or settle into a steadier pattern. As evidenced, today’s figures can rapidly change, but the ongoing monitoring and analysis of these rates will always remain crucial to the success of investment strategies. Overall, the journey of SEK value on 13th May 2024 provides valuable insights into the performance of the currency, setting the stage for future anticipations and asserting the importance of time-series financial data in shaping trading strategies.SEK Showcases Slight Fluctuation Amid Overnight Trading

Current Middle Market Exchange Rate

For information purposes only.