Core PCE (ex Food/Energy) in 2015
Core PCE (ex Food/Energy) opened 2015 at 96.21 and closed at 97.40, a +1.23% move for the year. The high of 97.40 was reached on December 1, and the low of 96.21 on January 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 96.21 | 96.21 | 96.21 | 96.21 | +0.00% |
| Feb | 96.32 | 96.32 | 96.32 | 96.32 | +0.00% |
| Mar | 96.47 | 96.47 | 96.47 | 96.47 | +0.00% |
| Apr | 96.65 | 96.65 | 96.65 | 96.65 | +0.00% |
| May | 96.77 | 96.77 | 96.77 | 96.77 | +0.00% |
| Jun | 96.88 | 96.88 | 96.88 | 96.88 | +0.00% |
| Jul | 96.98 | 96.98 | 96.98 | 96.98 | +0.00% |
| Aug | 97.06 | 97.06 | 97.06 | 97.06 | +0.00% |
| Sep | 97.20 | 97.20 | 97.20 | 97.20 | +0.00% |
| Oct | 97.23 | 97.23 | 97.23 | 97.23 | +0.00% |
| Nov | 97.33 | 97.33 | 97.33 | 97.33 | +0.00% |
| Dec | 97.40 | 97.40 | 97.40 | 97.40 | +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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