2024-05-07 US Dollar 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
Overall Trend of the Exchange Rates
On first glance at this comprehensive dataset, we see that the USD exchange rate fluctuates day by day throughout this entirety. However, there doesn't appear to be a significant overall increase or decrease throughout this period. The exchange rate mostly varies within a narrow range that suggests stability in the dataset. Despite having minor peaks and troughs, the trend remains quite stable.
Seasonality or Recurring Patterns
As for seasonality or recurring patterns, the given dataset does not suggest any clear repeated changes to the exchange rate at specific intervals. This is understandable as exchange rates are influenced by complex myriad of factors, including economic indicators, market sentiment, and geopolitical events. To identify any distinct seasonality or recurring patterns, more detailed data such as multiple years or specific periods coupled with other economic indicators would be needed. In this dataset and within this time scope, no obvious recurring patterns are found.
Outliers in Exchange Rates
An outlier could be defined as an observation that lies an abnormal distance from other values in a random sample from a population. Looking at the dataset we can't identify a significant deviation from the expected trend, which should be characterized by a drastic jump or drop in the exchange rate within a short period/framework. All deviations are minor and expected in a normal currency fluctuation context. However, it may require a more precise evaluation methods to precisely identify and categorize any minor outliers present in the exchange rate.
Summary
- The exchange rate shows relative stability with minor fluctuations throughout the dataset period.
- No clear seasonality or repeating patterns could be identified within this dataset alone.
- While drastic outliers are not apparently present in this dataset, it may be worth investigating further with more complex pattern recognition and anomaly detection techniques for potential minor outliers.
