CHF/CAD Exchange rate
Editors’ Picks
EUR/USD flirts with 1.0700 post-US PMIs
EUR/USD maintains its daily gains and climbs to fresh highs near the 1.0700 mark against the backdrop of the resumption of the selling pressure in the Greenback, in the wake of weaker-than-expected flash US PMIs for the month of April.
GBP/USD surpasses 1.2400 on further Dollar selling
Persistent bearish tone in the US Dollar lends support to the broad risk complex and bolsters the recovery in GBP/USD, which manages well to rise to fresh highs north of 1.2400 the figure post-US PMIs.
Gold trims losses on disappointing US PMIs
Gold (XAU/USD) reclaims part of the ground lost and pares initial losses on the back of further weakness in the Greenback following disheartening US PMIs prints.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
Germany’s economic come back
Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.
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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.