Spain OECD CLI in 2015
Spain OECD CLI opened 2015 at 103.12 and closed at 102.35, a -0.75% move for the year. The high of 103.44 was reached on April 1, and the low of 102.35 on December 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 103.12 | 103.12 | 103.12 | 103.12 | +0.00% |
| Feb | 103.32 | 103.32 | 103.32 | 103.32 | +0.00% |
| Mar | 103.43 | 103.43 | 103.43 | 103.43 | +0.00% |
| Apr | 103.44 | 103.44 | 103.44 | 103.44 | +0.00% |
| May | 103.36 | 103.36 | 103.36 | 103.36 | +0.00% |
| Jun | 103.23 | 103.23 | 103.23 | 103.23 | +0.00% |
| Jul | 103.09 | 103.09 | 103.09 | 103.09 | +0.00% |
| Aug | 102.97 | 102.97 | 102.97 | 102.97 | +0.00% |
| Sep | 102.86 | 102.86 | 102.86 | 102.86 | +0.00% |
| Oct | 102.74 | 102.74 | 102.74 | 102.74 | +0.00% |
| Nov | 102.58 | 102.58 | 102.58 | 102.58 | +0.00% |
| Dec | 102.35 | 102.35 | 102.35 | 102.35 | +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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