2024-05-22 Zambian Kwacha News

Follow Zambian Kwacha Forecast May 22, 2024

Summary of Yesterday

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Statistical Measures

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Trend

Overall understanding of the trend in exchange rates

From reviewing the dataset, it was observed that the exchange rate of ZMW was generally stable over the period. The rate fluctuates between 0.0527 and 0.0529, which is a very fluid, but narrow range. Although there are minute changes in the rates, it stays close to 0.0528 throughout the entire period. Despite these minor fluctuations, there is no noticeable increasing or decreasing trend in the overall data.

Seasonality or recurring patterns in exchange rates

In terms of seasonality or recurring patterns, the dataset does not show any regular or repetitive change in cyclical periods. The exchange rates remain gently oscillating within a certain boundary. However, due to the short-time interval (5 minutes) and a short span of data (one day), it's difficult to assert whether there would be some weekly, monthly, or annual seasonality.

Observation of outliers

Given the minute fluctuations in the exchange rate, it is difficult to identify any significant outliers within this dataset. The rate seems to follow a random walk and there doesn't appear to be any instances where the exchange rate differs significantly from what would be expected based on the trend. If any point seemed significantly different, further exploratory data analysis may be required to identify if this point is an outlier or an anomaly.

Please note that this analysis is purely based on the provided dataset and takes into account no external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news or reports, which can have a significant impact on the exchange rates.

Hour Period The Zambian currency, the Kwacha (ZMW), mirrored a consistent performance, displaying slight fluctuations throughout a 24-hour trading window stretched out on May 21, 2024. Even though volatility was minor, the ZMW''s constant but marginal shifts delivered a noteworthy pattern for financial analysts and Forex traders to decode. The ZMW started the day reported at a value of 0.05276. Over the course of the day, the currency saw minor shifts back and forth in its exchange rates, providing a somewhat steady financial ride. The early hours experienced a gradual dip, reaching a low of 0.05272 at around 02:15 AM. This minuscule dip was short-lived as the rate started recovering just 5 minutes later, showing the Kwacha’s resilience to maintain its stance. The currency saw an intriguing upward nudge at 07:35 AM where it jumped to 0.05283, and peaked at 0.05292 by 08:05 AM, highlighting an increment of roughly 0.00016. As the hours of the morning fell away, the ZMW experienced another slight dip, reaching a value of 0.05281 by 9:30 AM. Still, it managed to hover around this range for the majority of the day. The highest value recorded for the date was at 11:05, where the currency managed to clock a rate of 0.05285, though it is interesting to note that the market saw multiple instances of the ZMW hitting this number throughout the course of the day. In the evening hours, when trading typically slows down, the ZMW showed a slight, but consistent, fall, reaching its lowest point for the day as 0.05275 at 20:10 PM. This minuscule but steady ride of the currency reflects a market sentiment of stability with regard to the ZMW. Forex traders who prefer marginal but steady profits could potentially find the ZMW a safe haven considering its performance on the said day. Looking ahead, investors will be keeping a close eye on Zambia''s economic data and future policy decisions by the Zambian government, which can potentially impact the ZMW''s value. With the global economic scene still reeling from the after-effects of global crises, the Zambian Kwacha’s consistent display could serve as a beacon of stability. However, traders should equip themselves for potential unexpected shifts and adjust their strategies accordingly. ZMW Remains Steady Despite Minor Fluctuations Over a 24 Hour Period

ZMW Remains Steady Despite Minor Fluctuations Over a 24 Hour Period

Current Middle Market Exchange Rate

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