2024-05-16 Yuan Renminbi News
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2024-05-15
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Comprehensive Analysis of Provided Exchange Rate Time Series
The given time series data represents the exchange rate between a particular currency pair, where the base currency is Chinese Yuan (CNY). The data covers a 24-hour time period spanning midnight to midnight on the 15th of May, 2024. The following is a detailed analysis of the provided data:
1. Overall Trend of the Exchange Rates
An initial overview of the dataset shows that the overall exchange rate has a slight fluctuation within a narrow range. The fluctuation reaches its peak value of 0.18903 at 9:05 and reaches its lowest value of 0.18827 at 10:35. So broadly, it's clear that the currency exchange rate remains relatively stable throughout the given timeframe. A more sophisticated statistical analysis would need to be conducted to precisely determine any minute increases or decreases over this period.
2. Seasonality or Recurring Patterns
Due to the limited time span of the dataset, it's challenging to observe any clear seasonality or recurring patterns in the data. However, there seems to be a slight cyclical pattern that denotes the rate decreasing from a peak and then slowly climbing back, but the pattern does not strongly recur. For confirming the seasonality, we would require a larger set of data spanning multiple weeks or months.
3. Outliers
From the given dataset, it's observed that the exchange rate remains pretty stable with minor fluctuations throughout the day. None of the data points in this set seem to deviate significantly from the mean to be considered an outlier. However, a formal outlier detection process, such as using the Interquartile Range (IQR) method or Z-Score method, would provide a more accurate identification of any possible outliers.
While providing a high-level analysis, this does not take into consideration external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Such aspects could have significant influence on the exchange rate's behavior.
![Exchange Rate Volatility Sees CNY In Constant Fluctuation Throughout the Day](http://currencymart.net/images/news/yuan-renminbi/2024-05-16/img-vwymEg5wELsdbZeOr4roAbhm.webp)