2024-05-08 Yuan Renminbi News
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2024-05-07
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend of Exchange Rates
The overall trend of the exchange rates seems to be slightly increasing over time. This is evidenced by the increase in exchange rates from 0.18953 at the beginning of the period to 0.19035 at the end. It's crucial to note that the rates didn't increase steadily but fluctuated within a relatively narrow band around the rising trend line.
Seasonality or Recurring Patterns
Based on the provided data, it's challenging to identify any clear seasonality or recurring patterns in the exchange rate data over the given period. However, to make an accurate judgment on seasonality, it'll be more appropriate to analyze an entire annual cycle. Notably, the exchange rate shows a certain degree of volatility during the day with multiple peaks and troughs, which suggests a potentially intraday pattern that would require further investigation.
Outliers in Exchange Rates
Most of the exchange rates in the dataset are ranging from approximately 0.1894 to 0.1904, with a few exceptions reaching up to around 0.19044. As such, these few instances where rates reach around 0.19044 could potentially be considered as outliers, and they differ significantly from the broader observed trend and might be due to specific external influences or market conditions during those times.
Summary
In summary, the given financial time-series data reveals that the exchange rates have been fluctuating within a relatively narrow band during the given period while moving slightly upwards. No clear pattern of seasonality was identified within this period, although there were several potentially anomalous instances with unusual highs in the exchange rate. A more in-depth analysis using a dataset spanning a longer period might be beneficial to reveal patterns not visible in the current data.
!["Steady Climb: CNY Exchange Rates Show Gradual Strengthening Over 24 Hours"](http://currencymart.net/images/news/yuan-renminbi/2024-05-08/img-c3REoXChFOkTPxMmTLKKbMfk.webp)