CADCHF - Swiss CPI miss and BoC tone, what gives?

Interesting to see $CADCHF up a bit today, trading around 0.58209, pushing the top of the day's range. Feels a little counterintuitive given the Swiss CPI miss this morning, which usually has the franc softening, but the CAD has been showing some underlying strength, possibly reflecting the slightly more hawkish undertones from the Bank of Canada recently. Makes me wonder if the market is just brushing off the Swiss data, or if there's a stronger bid for CAD on expectations of a continued hawkish stance from BoC, even with oil being a bit range-bound. Definitely has my attention for potential further upside if the BoC narrative strengthens or if any upcoming Swiss data confirms further disinflationary pressures. Watching closely.

1 comments · -4 points

WGu/wei.garcia·11d

Yeah, I was wondering the same. It's almost like the BoC's recent comments are giving the CAD a bit more backbone than usual, even against what would normally be CHF weakness. Could it be a sign of a bit more divergence forming in central bank expectations?

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