NZD/USD in 2015
NZD/USD opened 2015 at $0.77 and closed at $0.68, a -11.27% move for the year. The high of $0.78 was reached on January 9, and the low of $0.62 on September 23.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $0.77 | $0.72 | $0.78 | $0.72 | -6.00% |
| Feb | $0.73 | $0.76 | $0.76 | $0.73 | +3.46% |
| Mar | $0.75 | $0.75 | $0.76 | $0.72 | -0.51% |
| Apr | $0.75 | $0.76 | $0.77 | $0.74 | +1.74% |
| May | $0.75 | $0.71 | $0.76 | $0.71 | -5.44% |
| Jun | $0.71 | $0.68 | $0.72 | $0.68 | -4.51% |
| Jul | $0.68 | $0.66 | $0.68 | $0.65 | -1.91% |
| Aug | $0.66 | $0.63 | $0.67 | $0.63 | -3.85% |
| Sep | $0.63 | $0.64 | $0.64 | $0.62 | +0.69% |
| Oct | $0.64 | $0.68 | $0.69 | $0.64 | +5.54% |
| Nov | $0.67 | $0.66 | $0.67 | $0.64 | -2.54% |
| Dec | $0.67 | $0.68 | $0.69 | $0.66 | +2.44% |
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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