CHF/CAD Exchange rate
Editors’ Picks
AUD/USD stays directed toward 0.6500 as RBA's Bullock speaks
AUD/USD is extending losses toward 0.6500 in Asian trading on Tuesday. The Aussie Dollar remains offered after the Reserve Bank of Australia extended the pause. Markets digest the less hawkish policy statement while Governor Bullock's press conference gets underway.
USD/JPY holds gains below 150.00 on the expected BoJ rate hike
USD/JPY holds gains below 150.00, as the Japanese Yen stays vulnerable amid a classic 'sell the fact' trading on the hawkish BoJ decision. The BoJ lifted the interest rate by 10 basis points (bps) from -0.1% to 0% for the first time since 2007 and abandoned the YCC framework.
Gold price flat-lines above one-week low, awaits the crucial Fed decision on Wednesday
Gold price oscillates in a range and is influenced by a combination of diverging forces. Hawkish Fed expectations, elevated US bond yields and a bullish USD cap the upside. Geopolitical risks lend some support to the XAU/USD ahead of the key FOMC meeting.
Bitcoin price shows weakness, but new BTC whales have created solid support at $56,400
Bitcoin price downside momentum continues to gain strength, giving sidelined and late bulls a chance to buy the dip. The market remains focussed on the oncoming halving, expected to kick off the next bull cycle. For the meantime, however, spot BTC ETFs remain the main play in the market.
Lots of tension ahead of this week's Fed decision
Last week, we got a strong round of US economic data accompanied by hotter US inflation reads. The takeaway of course is that there might be a lot more pressure on the Fed to be looking to scale back its rate cut outlook at this week’s meeting.
Majors
Cryptocurrencies
Signatures
CHF/CAD
The CHF/CAD pair tells the trader how many Canadian Dollar (the quote currency) are needed to purchase one Franc Swiss (the base currency). These two economies are quite intensely linked because Canada is an important producer of gold while Switzerland is a great importer of that same commodity - a quart part of the overall commodities imported by Switzerland is gold and there is a solid tradition of gold refineries/gold mining companies in the country. Switzerland can be considered as a stable and safe country. The same accounts for its currency, the Swiss Franc (CHF). The currency is often referred to as the “safe-haven” currency, as it is a backup for investors during times of geopolitical tensions or uncertainty: it is expected to increase its value against other currencies in times of volatility.
HISTORIC HIGHS AND LOWS FOR CHF/CAD
- All-time records: Max: 1.4753 on 01/01/2015 - Min: 0.2176 on 01/01/1961
- Last 5 years: Max: 1.4680 on 18/01/2016 - Min: 1.2589 on 11/09/2017
* Data as of February 2020
ASSETS THAT INFLUENCE CHF/CAD THE MOST
- Currencies: USD and EUR.
- Commodities: Gold, Oil and Natural Gas.
- Bonds: CSB (Canada Savings Bonds), CPB (Canada Premium Bond) and SBI T (Swiss Bond Indexes).
- Indices: SMI (the Swiss Market Index, Switzerland's blue-chip stock market index ), ESTX50 (ESTX50 (Euro Stoxx 50, a stock index of Eurozone stocks designed by STOXX, an index provider owned by Deutsche Börse Group) S&P/TSX Global Gold Index (index of global gold securities) and S&P/TSX Capped Energy Index (benchmarks for related derivative products of Canadian economic sectors).
ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE CHF/CAD
The organizations and people that affect the most the moves of the CHF/CAD pair are:
- Central Banks of Switzerland, the Swiss National Bank (SNB) and his Chairman of the governing board, Thomas Jordan. The SNB controls the Switzerland’s monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.
- Bank of Canada (BoC, Canada’s Central bank) is a Crown corporation and Canada's central bank. Chartered in 1934 under the Bank of Canada Act, it is responsible for formulating Canada's monetary policy, and for the promotion of a safe and sound financial system within Canada. BoC has the same role as the SNB and issues statements and decides on the interest rates of the country. Its president is Tiff Macklem.
- The Federal Reserve of the United States (Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Fed's president is Jerome Powell.
- European Central Bank (ECB) is the central bank for the euro and administers monetary policy within the Eurozone, which comprises 19 member states of the European Union and is one of the largest monetary areas in the world. The main objective is to maintain price stability for the Euro. The Bank is currently headed by Christine Lagarde.
- World Gold Council (WGC): because of the gold-dominated relationship between Canada and Switzerland, the WGC, a market development organisation for the gold industry whose aim is to stimulate and sustain demand for that commodity, is an important institution whose decisions and reports can affect the CHF/CAD.