Trade Balance in 2015
Trade Balance opened 2015 at -38,865 and closed at -41,003, a -5.50% move for the year. The high of -33,903 was reached on February 1, and the low of -48,732 on March 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | -38,865 | -38,865 | -38,865 | -38,865 | +0.00% |
| Feb | -33,903 | -33,903 | -33,903 | -33,903 | +0.00% |
| Mar | -48,732 | -48,732 | -48,732 | -48,732 | +0.00% |
| Apr | -39,836 | -39,836 | -39,836 | -39,836 | +0.00% |
| May | -38,502 | -38,502 | -38,502 | -38,502 | +0.00% |
| Jun | -42,425 | -42,425 | -42,425 | -42,425 | +0.00% |
| Jul | -40,340 | -40,340 | -40,340 | -40,340 | +0.00% |
| Aug | -44,205 | -44,205 | -44,205 | -44,205 | +0.00% |
| Sep | -41,641 | -41,641 | -41,641 | -41,641 | +0.00% |
| Oct | -40,873 | -40,873 | -40,873 | -40,873 | +0.00% |
| Nov | -40,451 | -40,451 | -40,451 | -40,451 | +0.00% |
| Dec | -41,003 | -41,003 | -41,003 | -41,003 | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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