2024-04-26 UAE Dirham News
2024-04-25
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Understanding the overall trend of the exchange rates
Based on the dataset provided, the overall trend of the exchange rates shows a slight decrease. The rates started at 0.37275 and ended at 0.37175. Throughout the period, there are fluctuations above and below these values, but the general movement of the exchange rate seems to be a slight downward trend.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates
Due to the limited dataset provided, which spans over only a day, it is difficult to assertively identify any seasonality or recurring patterns. For a comprehensive seasonality study, data spanning over a year or multiple years would be preferred. However, within this day, there seem to be no obvious patterns in the changes in exchange rates; the fluctuations appear to be random within this limited context.
3. Noting any outliers or instances where the exchange rate differs significantly
There do not appear to be any significant outliers in the provided dataset where the exchange rate differs overwhelmingly from the established pattern. Occasional spikes and dips are observed, but these are common in exchange rate data and don't represent a significant deviation. In statistics, an outlier is usually defined as values that are 3 standard deviations away from the mean.
Note
Please keep in mind that this analysis is basic and might not include all possible insights. Without considering any external influence such as market news or world events that can dramatically affect exchange rates, any conclusion might not reflect the true nature of the data's dynamics. It is recommended to carry out a comprehensive analysis that would include these external factors and perhaps longer data time series. Furthermore, developments in Machine Learning have led to advanced models capable of studying time series data and predicting future trends.