Financials (XLF) in 2015
Financials (XLF) opened 2015 at $20.09 and closed at $19.36, a -3.64% move for the year. The high of $20.78 was reached on July 22, and the low of $18.1 on September 28.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $20.09 | $18.69 | $20.09 | $18.69 | -6.96% |
| Feb | $18.99 | $19.78 | $19.91 | $18.99 | +4.15% |
| Mar | $19.93 | $19.59 | $20.07 | $19.35 | -1.71% |
| Apr | $19.57 | $19.6 | $19.87 | $19.57 | +0.17% |
| May | $19.77 | $19.98 | $20.29 | $19.69 | +1.07% |
| Jun | $20 | $19.81 | $20.53 | $19.73 | -0.97% |
| Jul | $20.11 | $20.48 | $20.78 | $19.63 | +1.86% |
| Aug | $20.45 | $19.03 | $20.67 | $18.14 | -6.95% |
| Sep | $18.42 | $18.41 | $19.13 | $18.1 | -0.04% |
| Oct | $18.42 | $19.56 | $19.87 | $18.42 | +6.22% |
| Nov | $19.83 | $19.95 | $20.09 | $19.43 | +0.61% |
| Dec | $20.17 | $19.36 | $20.17 | $18.93 | -4.03% |
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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