OECD Composite Leading Indicator in 2015
OECD Composite Leading Indicator opened 2015 at 100.62 and closed at 99.32, a -1.29% move for the year. The high of 100.62 was reached on January 1, and the low of 99.32 on December 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 100.62 | 100.62 | 100.62 | 100.62 | +0.00% |
| Feb | 100.53 | 100.53 | 100.53 | 100.53 | +0.00% |
| Mar | 100.43 | 100.43 | 100.43 | 100.43 | +0.00% |
| Apr | 100.33 | 100.33 | 100.33 | 100.33 | +0.00% |
| May | 100.22 | 100.22 | 100.22 | 100.22 | +0.00% |
| Jun | 100.11 | 100.11 | 100.11 | 100.11 | +0.00% |
| Jul | 99.97 | 99.97 | 99.97 | 99.97 | +0.00% |
| Aug | 99.80 | 99.80 | 99.80 | 99.80 | +0.00% |
| Sep | 99.65 | 99.65 | 99.65 | 99.65 | +0.00% |
| Oct | 99.52 | 99.52 | 99.52 | 99.52 | +0.00% |
| Nov | 99.41 | 99.41 | 99.41 | 99.41 | +0.00% |
| Dec | 99.32 | 99.32 | 99.32 | 99.32 | +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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