Canadian Dollar / Swiss Franc - CAD/CHF

While the Canadian Dollar (CAD) is really linked with the American Dollar considering the privileged commercial exchanges between these two countries (85% of the Canadian exports and 60% of the Canadian imports are done with the United States), and while the Canadian Dollar exchange rates really depend on the energy raw material rates (specifically oil, of which Canada is an important exporter), the Swiss Franc (CHF) is a traditional defensive security in a crisis period, a value strongly linked with the Euro, as 70% of the Swiss commercial exchanges are done with the European Union countries.

It is not a surprise to see that the fluctuations of the CAD/CHF cross rates have been for several years similar to the EUR/CAD cross ones (or more precisely of the CAD/EUR cross).

With an exchange value CAD/CHF = 0.87 at the beginning of 2003, the cross has a bullish tendency until August 2005 with CAD/CHF = 1.0170, a bullish tendency that goes on until March 2006 with CAD/CHF = 1.1600.

As well as in relation with the Euro, the Canadian Dollar depreciates against the Swiss Franc until April 2007 (CAD/CHF = 1.0279, so a 12% decrease in a year) before increasing again (at the same time against Euro again) to reach a higher point at 1.2500 in November 2007 (that represents a 22% rise in six months) in the context of the oil rates surge.

Then, we see successive decreases of the CAD/CHF cross, which is at 0.9648 in April 2008 and decreases to reach its lower point in December 2008 at 0.8500.

From the first trimester of 2009, the Canadian Dollar begins to increase in value again against the other currencies (in particular the American Dollar and he Euro) that also leads to a new bullish tendency of the exchange rate CAD/CHF which is at 0.983 in October 2009.