Global Commodity Price Index in 2015
Global Commodity Price Index opened 2015 at 114.03 and closed at 90.54, a -20.61% move for the year. The high of 118.12 was reached on May 1, and the low of 90.54 on December 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 114.03 | 114.03 | 114.03 | 114.03 | +0.00% |
| Feb | 117.20 | 117.20 | 117.20 | 117.20 | +0.00% |
| Mar | 113.29 | 113.29 | 113.29 | 113.29 | +0.00% |
| Apr | 114.58 | 114.58 | 114.58 | 114.58 | +0.00% |
| May | 118.12 | 118.12 | 118.12 | 118.12 | +0.00% |
| Jun | 115.70 | 115.70 | 115.70 | 115.70 | +0.00% |
| Jul | 109.34 | 109.34 | 109.34 | 109.34 | +0.00% |
| Aug | 102.33 | 102.33 | 102.33 | 102.33 | +0.00% |
| Sep | 101.88 | 101.88 | 101.88 | 101.88 | +0.00% |
| Oct | 102.04 | 102.04 | 102.04 | 102.04 | +0.00% |
| Nov | 96.04 | 96.04 | 96.04 | 96.04 | +0.00% |
| Dec | 90.54 | 90.54 | 90.54 | 90.54 | +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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