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The EUR-CHF represents the Euro against the Swiss Franc. It’s also pretty symbolic of two classic hedge currencies. The Swiss Franc has long represented the financial and tax haven that is Swiss banking policy, while the Euro is a classic choice for global financial uncertainty. However, with the European financial crises still looming, this status has been challenged in recent years, making the EUR-CHF an interesting choice for the right investor.
If you’re searching for a low-volatility currency pairing, the GBP-CHF is likely the right pair for you. The GBP has long been a premier reserve currency and seems to be holding strong through the current volatile financial climate. The Swiss Franc has long been a benchmark currency and a safe haven, due in no small part to the Swiss banking system’s reputation as a refuge for the rich.
The EURCAD pairing represents the Euro and the Canadian Dollar. Canada is typically seen as a commodity currency, as a large portion of their export currency comes from crude oil. This makes it susceptible to fluctuations in the crude oil price. The Euro has a historical place as a Funding currency during global uncertainty. The true ranges of this of times interesting pair are typically higher than the ‘Majors’ and should interest intra-day and swing traders both.
The EUR-NZD pair has benefited from the current Euro-Zone crisis. The South Pacific currencies are typically seen as good proxies for Chinese growth, so typically perform well against the Euro. Future concerns will be the matter of the balance between the shift away from Chinese export growth against weakness in the Euro Zone, and could make for an interesting currency pair choice.
The Canadian Dollar- Japanese Yen pairing [CAD-JPY] is a perfect bypass for the trader who wants to avoid the dollar but trade on similar gains. It is, however, typically more sensitive to market sentiment then the USD-JPY pairing. This is mainly due to the historically higher yield of the Canadian Dollar. Remember that it is also affected by the oil price due to Canada’s export of crude oil.
This pairing of the major Japanese Yen with the non-major New Zealand Dollar is an attractive carry trade, a strategy typically used during optimistic economic periods with good financial market stability. As this falls away during period of market stress the NZD/JPY pair is sensitive to overall market sentiment trends. News from their economies as well as those of key trading partners like China also cause fluctuations.
The AUD-CAD is an interesting pairing for those interested in global commodity factors. Australia has deep trading partnerships with China, and produces ‘hard’ commodities in the metal and energy markets. The Canadian dollar is heavily influenced by its country of origin’s crude oil exports. This makes the pairing sensitive to global commodity trends across the board.
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If you are looking for a safe haven pairing this is the set for you. The CHF-JPY, or Swiss Franc/Japanese Yen currency pairing reached a low in 2008 during the financial crises, but has since traded far beyond that low, mainly driven by aggressive Japanese financial policies. They’re typically viewed as safe-haven currencies with low interest rates.
If you’re looking for a pair well correlated to risk, the AUD-JPY is the pair for you. Highly correlated to price action in US equities over the short and medium term, it tends to fall during risky times and rise in low risk environments. If this fits your trading strategy, it could be the best choice for you.
As with the AUD-JPY pair, the AUD-CHF is a carry trade, and it in fact has very similar characteristics. However, it’s historically been less popular. The AUD is typically risk-on, and the Swiss Franc a safe haven, so you can also take the view that this pair reflects risk sentiment well. It can be a good measure of global financial performance.
It’s hardly surprising that these two close countries should share a currency pair, too. Both of the currencies involved in the AUD-NZD pairing typically trade very similarly, due both to geographic location and key trading partners. Cross moves generally depend on their actual internal economy, and global trends don’t typically influence this pair. Commodity markets do play a huge role for both currencies, especially meat, mile, wool and metal/energy products.