Trade CADCHF

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Thinking of trading CADCHF?

    1. The Bank of Canada has no specific target value for the CAD and has not intervened in the foreign exchange markets since 1998. It believes the value of the currency should be defined by its market performance. This is something very interesting for traders, as they will not have to worry about sudden unexpected decisions that would influence the currency (watch out for the SNB though, as this bank is indeed known for doing so)2. Many consider the Swiss franc as a market hedge, similar to gold, or else a basic way to diversify a portfolio. In good times, you will typically see it appreciate relative to positive-carry assets, such as currencies like the Australian dollar (AUD).
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This quote represents how many CHF (the counter currency) you need to buy one CAD (the base currency). Whereas the CAD is considered to be a commodity currency as it is heavily dependent on their Oil production, the CHF is considered a safe-haven. The CAD/CHF is considered to be a carry trade pair as the Swiss franc is known for having a low interest rate (currently negative actually) and Canada has a higher interest rate. A carry trade is when an investor buys a high yielding currency and fund it with a low yield one. The SNB (Swiss National Bank) decided back in September 2011 to peg the CHF's exchange rate to the euro. It implemented a "cap" of 1.20 CHF to the European currency. In 2015, after the removal of the peg, the currency saw an appreciation of 30%.

1. In the case of Switzerland, the Swiss National Bank (SNB) wants a weak franc. It is doing this because it wants to boost inflation to rid the country of its deflationary problems that have plagued it for the better part of the past decade. This will make the Pair relatively stable, as CHF will never spike up out of control of the SNB. 2. As any other commodity-currency, the CAD will be subjected to changes that influence the price of oil. Economic events to watch out for would be the OPEC meetings, oil inventories and other news related to the commodity.

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