CAD/USD in 2015
CAD/USD opened 2015 at $1.17 and closed at $1.38, a +18.03% move for the year. The high of $1.4 was reached on December 21, and the low of $1.17 on January 2.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $1.17 | $1.27 | $1.27 | $1.17 | +8.45% |
| Feb | $1.26 | $1.25 | $1.26 | $1.24 | -0.56% |
| Mar | $1.25 | $1.27 | $1.28 | $1.24 | +1.16% |
| Apr | $1.26 | $1.21 | $1.26 | $1.2 | -3.92% |
| May | $1.22 | $1.25 | $1.25 | $1.2 | +2.26% |
| Jun | $1.25 | $1.25 | $1.25 | $1.22 | -0.59% |
| Jul | $1.26 | $1.3 | $1.31 | $1.26 | +3.89% |
| Aug | $1.31 | $1.32 | $1.33 | $1.3 | +0.62% |
| Sep | $1.32 | $1.34 | $1.34 | $1.31 | +1.64% |
| Oct | $1.32 | $1.31 | $1.32 | $1.29 | -1.19% |
| Nov | $1.31 | $1.33 | $1.34 | $1.31 | +1.83% |
| Dec | $1.34 | $1.38 | $1.4 | $1.34 | +3.49% |
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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