The current market bias for the CAD to CHF exchange rate is bullish. Key drivers include the Bank of Canada maintaining its interest rate at 2.25%, contributing to a favorable interest rate differential against Switzerland, where rates were recently cut. Additionally, Canada's economic growth, highlighted by a strong jobs report, supports the CAD. Oil prices are also a factor, as they trade near 30-day highs, benefiting Canada as a major oil exporter.
The expected near-term trading range suggests stability, given recent fluctuations have remained within a 3.2% range just above the 3-month average. Upside risks include continued strength in oil prices, while downside risks could arise from potential interventions by the Swiss National Bank, especially if the Swiss franc remains strong amid global economic pressures. Overall, traders should monitor these developments closely.