2024-05-01 Ghana Cedi News
2024-04-30
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analyzing the Time-Series Data
By evaluating the provided timestamp data and corresponding GHS exchange rates, I performed an in-depth analysis of the time series data. Please note that this analysis is purely based on the data given and does not consider external factors like market opening/closing times or key financial news reports.
1. Understanding the Overall Trend of the Exchange Rates
The exchange rate of GHS appears to demonstrate a particularly stable pattern throughout the time series, moving between roughly 0.1 to 0.1008, with some slight fluctuations. However, it is worth noting that there are instances of minimal increment and decrement across the dataset. The rates do not conspicuously lean more to an overall increase or decrease - they have rather stayed around a similarly same range.
2. Seasonality or Recurring Patterns
The dataset does not seem to present obvious recurring patterns or strong seasonality on first observation. The rate appears to frequently oscillate around certain values, indicating that the rate likely responds to certain market mechanisms and influences rather than a predictable time-based pattern. However, further dedicated statistical analysis might reveal nuanced intraday or intraweek patterns.
3. Outliers
In considering the prevalence of outliers, the dataset doesn’t present noticeable deviations in exchange rates - the rates are predominantly confined within a relatively tight range. This suggests the absence of extreme market events in the period under review. Again, a deeper statistical analysis might identify more subtle outliers.
It is important to note that this low-level analysis is limited by the lack of external context and deeper statistical analysis. An in-depth understanding of currency rates would require financial expert knowledge, including understanding political, economic, and social factors that might affect the exchange rate.
