MOVE Index in 2015
MOVE Index opened 2015 at 86.6 and closed at 67.8, a -21.71% move for the year. The high of 98.5 was reached on February 19, and the low of 65.5 on December 24.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 86.6 | 86.6 | 92.6 | 70 | +0.00% |
| Feb | 91.4 | 91.4 | 98.5 | 88.1 | +0.00% |
| Mar | 86.1 | 86.1 | 91.8 | 83.7 | +0.00% |
| Apr | 75.3 | 75.3 | 84.3 | 71 | +0.00% |
| May | 82.7 | 82.7 | 91 | 80.9 | +0.00% |
| Jun | 92.3 | 92.3 | 92.3 | 82.4 | +0.00% |
| Jul | 75.8 | 75.8 | 90.5 | 69.71 | +0.00% |
| Aug | 87.7 | 87.7 | 94.5 | 74.7 | +0.00% |
| Sep | 81.6 | 81.6 | 93.1 | 69.2 | +0.00% |
| Oct | 73.1 | 73.1 | 80.3 | 69.7 | +0.00% |
| Nov | 69.9 | 69.9 | 77.6 | 67.7 | +0.00% |
| Dec | 67.8 | 67.8 | 79.6 | 65.5 | +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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