2024-05-09 Ghana Cedi News
2024-05-08
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 exchange rates provided in the data range from 0.09865 to 0.09937. The values bounce up and down frequently, but there does not appear to be a clear upwards or downwards trend in the overall exchange rate data. It is roughly stable with minor oscillations over the observed period. The average of all the observed rates is 0.09885, suggesting that the rate predominantly hovers around this value.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates
Regrettably, within the specified single day period, it is challenging to identify any clear patterns of seasonality in the data. Seasonality commonly emerges over longer periods, such as weeks, months, or years, where repeating patterns, like the start and end of a business quarter or annually recurring events, can influence the rates. For this one-day period of minute-to-minute data, it can be more relevant to seek patterns in the intraday dynamics rather than seasonality.
3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality
Again, the notion of outliers is typically connected with longer observation periods where you have well-established averages and variations to compare with. In a minute-to-minute analysis, every slightest shift can appear like an outlier. However, when we consider the overall distribution of values, there are a few noticeable oscillations. For example, the dip to 0.09865 and the peak of 0.09937 stand out from the majority of the values being in the 0.099 to 0.0988 range. These might be considered outliers or instances of significant variations within this dataset.
Consequently, while the data provides us with the minute-to-minute variations of the exchange rate, for a more comprehensive analysis like determining the overall trend, seasonality, and outliers, a dataset covering a longer period would be needed.
