2024-05-15 UAE Dirham News
2024-05-14
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
The overall trend of the exchange rates appears to be largely stable. The AED exchange rate has minimal fluctuation throughout the provided dataset. The highest exchange rate recorded was 0.37252 and the lowest being 0.37128, implying a small range of variation. However, there is a noticeable decline near the timestamp '2024-05-14 07:45:03' where the exchange rate dips to 0.37178, the lowest it has been since the beginning of the dataset. After this point, the exchange rate progressively increases, reaching another peak at 0.37202 around timestamp '2024-05-14 12:15:03'. Nevertheless, these fluctuations are minor and the exchange rate essentially remained between 0.3725 and 0.3715 over the examined period. It's important to keep in mind that even small fluctuations can have significant impacts in forex trading and global commerce.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates
In the presented dataset, no clear seasonality or recurring patterns can be observed. The exchange rates vary around a narrow interval without exhibiting any distinct cyclic or repetitive pattern in the short term. These observations suggest that within this timeframe, the exchange rate may not be influenced by any regular or predictable factors that result in a recurring pattern. However, for a more accurate assessment of seasonality, it would be beneficial to examine a longer period, as seasonal trends may not be noticeable within a single day.
3. Noting any outliers, or instances where the exchange rate differs significantly from the average
There do not appear to be any significant outliers in the dataset provided. All the exchange rate values fall within a close range, and none deviate dramatically from the overall trend. At the timestamp '2024-05-14 07:45:03', the rate did reach its lowest point of 0.37178, but this does not constitute an outlier as it falls within the general variability of the data. Additionally, there doesn't seem to be any sudden spikes or drops that would indicate anomalous instances. Nonetheless, each fluctuation, no matter how small, carries potential relevance in financial decision-making, and should be adequately considered in financial analysis.
