2024-05-07 UAE Dirham News
2024-05-06
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
Analysis of AED Exchange Rate Data
From the time series data that have been provided, I will carry out a comprehensive analysis, focusing on the changes in the AED exchange rates at different timestamps. The primary areas I will focus on include understanding the overall trend, identifying any seasonality or recurring patterns, and noting any significant outliers.
1. Overall Trend of the Exchange Rates
Upon review of the data, it is observed that the exchange rates start at 0.37266 and end at 0.37245. The highest exchange rate during this period is 0.3727, and the lowest is 0.37164. Although there have been fluctuations throughout the period, the overall trend shows a very slight reduction in the exchange rate. This might indicate overall market stability during this time.
2. Seasonality or Recurring Patterns
Time series data sometimes exhibit patterns at regular intervals, this is known as seasonality. It is often observed in financial markets where certain periods like quarters, months, weeks or even specific days experience repeated patterns. From the data provided, no distinct seasonal pattern is discernible. Further analysis with more specific tools for time series analysis would be required to uncover any hidden seasonal patterns, but such analysis is beyond the scope of this exercise.
3. Outliers in the Data
An outlier is a data point that differs significantly from other similar points. They may be the result of variability in the data or potential measurement errors. In the given time series data, the exchange rates stay within a small range, hence, no substantive outliers can be identified. This indicates a period of relative stability in the AED exchange rates over these timestamps.
In conclusion, the time series data analysis indicates a small decrease in the exchange rate during this period, with no discernable seasonal or repeating pattern, and no significant outliers. However, for a more robust analysis on exchange rate movements, factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports would need to be considered.
