CAD/CHF: the macro gap
On the Macro Currency Strength Meter, the Canadian Dollar scores -20 and the Swiss Franc scores -13 — a gap of 6 points in favour of the Swiss Franc. The widest divergence is in positioning, which favours the Swiss Franc. With both currencies scoring similarly, the fundamental case here is broadly balanced.
Strength gap
-6.3
Stronger side
CHF
Edge is
Holding steady
Scores
-20 vs -13
Factor by factor
Positive is stronger relative to the other majors, not in absolute terms. The gap column is CAD minus CHF.
| Factor | CAD | CHF | Gap |
|---|---|---|---|
| Interest Rates | -25 | -44 | +19.3 |
| Growth | -14 | — | -13.5 |
| Positioning | -44 | +8 | -52.5 |
| Risk Mood | -12 | +19 | -30.7 |
| Commodities | +7 | — | +7.1 |
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