2024-05-13 Yuan Renminbi News
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2024-05-12
Summary of Last Week
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Comprehensive Analysis of CNY Exchange Rate Time Series Data
The given dataset provides a detailed overview of the exchange rates (in CNY) over a specified period. It's vital to note that the dataset forms a time series, providing substantial insight into the dynamics of exchange rate changes over time. Our goals are to understand the general trend in these rates, identify any recurring patterns or seasonality in the data, and spot any outliers.
1. Understanding The Exchange Rate Trend
The exchange rates indicate a quite stable trend during the period analyzed. There are gentle ups and downs from 0.18948 to 0.19108, with no significant spikes or sudden drops. The data suggests minor fluctuations rather than massive increases or decreases, and the exchange rate appears to hover around the 0.19 mark. It's important to bear in mind that numerous factors can cause this trend, such as changes in the global economy, demand for currencies, and intricacies of the foreign exchange market.
2. Recurring Patterns and Seasonality
Looking at the dataset, one can notice a slight pattern in the change of exchange rates throughout the day. However, the data doesn't span a long enough period (like a year) to make solid conclusions about seasonality. However, potential daily cyclic patterns seem to be present as the exchange rate slightly increases and decreases within a day. It's most likely tied to market dynamics and participants' actions, which often follow a daily routine.
3. Identification of Outliers
While inspecting the dataset, we found that normal fluctuations in the exchange rate do not exceed a certain limit. However, some instances show slight deviations from the norm, such as the exchange rate of 0.19108. These instances can be considered as outliers, even though they're not excessively different from the regular rate. These values might have been influenced by some sudden market changes or unusual trading activity at those specific timestamps.
As requested, the analysis does not consider any external market factors and does not extend to forecasting future exchange rates. Both of these could significantly deepen the analysis and provide more insights into the subject.
![Unsteady Chinese Yuan Exchange Rates Glean Uncertainty Over April-May 2024](http://currencymart.net/images/news/yuan-renminbi/2024-05-13/img-2vpryk5zAv1Ymjwape2ufvrI.webp)