CADCHF, also called Loonie Swissy, is the forex quote for the Canadian dollar (CAD) against the Swiss franc (CHF). This currency pair shows how many Swiss francs are needed to buy one Canadian dollar. CAD is known to be a commodity currency, whereas CHF has long been considered a safe-haven currency.

What is CADCHF?

The CADCHF currency pair represents the currency of Canada, i.e., the Canadian dollar (CAD), and that of Switzerland, i.e., the Swiss franc (CHF). Another commonly used name for the pair among traders is the Loonie Swissy. This currency pair tells how many CHF are needed to buy one CAD. The CAD is a commodity currency because its underlying country, Canada, is one of the world's largest oil and gold producers and exporters. Its economy is the 10th largest in the world in terms of GDP. Understanding the Canadian economy is necessary to learn how to trade CADCHF.

Switzerland's financial sector is also relatively stable, so CHF is considered a safe haven. The Swiss National Bank (SNB) has issued and managed the currency, but the exchange rate of this currency pair depends on several factors. The interest rate decisions are of central banks and are directly related to the exchange rate.

How Does CADCHF Work?

As Canada is an exporter country, the rise in commodity prices causes the CADCHF to rise and vice versa. CHF is backed by gold, and any changes in gold prices affect the currency's value, ultimately causing CADCHF value to fluctuate. Political stability and good trade relations between both countries are also crucial as they increase the value of CADCHF. Moreover, market sentiment is essential in determining the demand for different currencies, including CAD and CHF. As CHF is a safe-haven currency because of Switzerland's strong banking sector, investors are attracted more towards CHF in times of uncertainty. Hence, it raises the demand for the currency, resulting in an increased exchange rate.

The CADCHF facilitates international trade and investment between the two countries. Apart from exporting goods, the investors of both countries can invest in the currency pair through the SimpleFX trading platform. For beginners eager to know more about how to invest in CADCHF, the platform offers a demo account.

In Forex trading, investors speculate on the movement of CADCHF exchange rates and potentially benefit from the fluctuations in the currency pair. They do so through a forex broker that offers the currency pair. Investing in CADCHF provides several opportunities, including portfolio diversification, that might help reduce the loss.

CADCHF Price History

It is essential to review its pricing history before making any investment decision in any currency pair. The past years' CADCHF performance overview for the investors is listed below:

2018

This year started with an exchange rate value of 0.7762, ending at 0.7221 CHF with a decrease of 0.0541 points. The year's best exchange rate was observed on 9th January 2018 at 0.7886 CHF; the worst value was 0.7215, observed on 29th December 2018. However, the year's average was 0.7549 CHF.

2019

On 1st January 2019, CADCHF value was 0.7207 CHF; on 31st December of the year, it rose to 0.7439 CHF. Also, the year's average exchange rate was 0.7488 CHF, with the best and the worst rates of 0.7621 and 0.7207 CHF, respectively.

2020

This year started with an exchange rate value of 0.7457 CHF and ended at 0.7058 CHF. Also, the year's average was 0.7 CHF, with the best and the worst exchange rates of 0.7482 and 0.6695 CHF, respectively.

2021

On 1st January 2021, the exchange rate value was 0.6992. However, the year ended at 0.7213 CHF. The year's best, worst, and average exchange rate values were 0.7516, 0.6894, and 0.7516, respectively.

2022

The year's starting exchange rate value was 0.7213 CHF, and the year's ending value was 0.6813. The best value of 0.7797 CHF was observed on 8th June 2022, and its worst and average exchange rate values were 0.6783 and 0.7338 CHF, respectively.

Current CADCHF Price

The current CADCHF price can be checked on the chart above and on the SimpleFX Webtrader platform.

Is CADCHF a good investment?

There's no straightforward yes or no answer regarding investing in currency pairs, including CADCHF. As the exchange rate keeps fluctuating due to economic indicators and market sentiments, investors eager to learn how to invest in forex must consider them before investing. Traders uncomfortable with high risks prefer the CADCHF pair because it provides liquidity without the crazy volatility of multiple currency pairs.

Investors must keep in mind that whether investing in the currency pair is a good idea depends on the investor's risk tolerance, investment goals, and market outlook. It's essential to conduct thorough research and self-analysis before risking money.

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