Seasonality · NZD/CHF · 12 November 2026
NZD/CHF seasonality: is November bullish for NZD/CHF?
Over the last 14 years (2012 to 2025), NZD/CHF rose in November 10 times, with an average move of +0.88% and a median of +1.35%. December, the month ahead, has risen in 6 of 15 years, −0.09% on average (median −0.38%).
Its best month on average is November (+0.88%, up in 10 of 14) and its worst is August (−1.43%, up in 6 of 15).
The seasonal pattern: average return by month
Monthly seasonal returns, all 12 months
| Month | Average | Median | Up years | Best | Worst | Sample |
|---|---|---|---|---|---|---|
| January | −0.54% | +0.81% | 8 of 15 | +4.27% (2019) | −13.80% (2015) | 2012–2026 |
| February | +0.30% | −0.34% | 6 of 15 | +7.69% (2015) | −3.36% (2020) | 2012–2026 |
| March | −0.04% | +0.06% | 8 of 15 | +3.86% (2014) | −4.82% (2020) | 2012–2026 |
| April | −0.42% | +0.14% | 8 of 15 | +3.65% (2020) | −3.69% (2023) | 2012–2026 |
| May | −0.88% | −0.30% | 7 of 15 | +2.22% (2024) | −6.38% (2015) | 2012–2026 |
| June | −0.47% | −1.02% | 7 of 15 | +4.14% (2012) | −5.27% (2015) | 2012–2026 |
| July | +0.14% | +0.15% | 8 of 15 | +3.95% (2012) | −4.56% (2024) | 2012–2026 |
| August | −1.43% | −1.45% | 6 of 15 | +2.02% (2016) | −4.84% (2018) | 2012–2026 |
| September | +0.08% | +0.21% | 8 of 15 | +4.57% (2023) | −7.14% (2022) | 2012–2026 |
| October | +0.14% | −0.22% | 7 of 15 | +6.80% (2015) | −4.21% (2024) | 2012–2026 |
| November (now) | +0.88% | +1.35% | 10 of 14 | +4.94% (2020) | −4.53% (2021) | 2012–2025 |
| December (next) | −0.09% | −0.38% | 6 of 15 | +3.42% (2011) | −3.97% (2018) | 2011–2025 |
Each month is the last 15 complete years of that month, from the Federal Reserve's daily exchange rates (H.10), month-end to month-end. The month in progress is not counted. History, not a forecast.
NZD/CHF in November, year by year
| November 2025 | +0.27% |
|---|---|
| November 2024 | +1.36% |
| November 2023 | +1.65% |
| November 2022 | +1.72% |
| November 2021 | −4.53% |
| November 2020 | +4.94% |
| November 2019 | +1.43% |
| November 2018 | +4.63% |
| November 2017 | −1.30% |
| November 2016 | +1.92% |
| November 2015 | +1.34% |
| November 2014 | +1.14% |
| November 2013 | −1.55% |
| November 2012 | −0.73% |
Questions
Is November bullish for NZD/CHF?
Over the last 14 years (2012 to 2025), NZD/CHF rose in November 10 times, with an average move of +0.88% and a median of +1.35%. That is a bullish lean; the range runs from −4.53% (2021) to +4.94% (2020). A seasonal tendency is history, not a forecast.
What is the best month for NZD/CHF?
Its best month on average is November (+0.88%, up in 10 of 14) and its worst is August (−1.43%, up in 6 of 15). Measured over the last 15 years of each month, from the Federal Reserve's daily exchange rates (H.10), month-end to month-end.
What happens to NZD/CHF in December?
December, the month ahead, has risen in 6 of 15 years, −0.09% on average (median −0.38%).
How reliable is NZD/CHF seasonality?
Fifteen years is fifteen observations per month, so one large year can move an average a long way; the median and the count of up years are steadier. Seasonality is one input among several, and is weighed as one in the terminal's composite score.
More on NZD/CHF: NZD/CHF analysis · NZD/CHF rate differential · NZD/CHF retail sentiment · New Zealand Dollar outlook · New Zealand Dollar COT positioning · RBNZ rate expectations · New Zealand economic surprises · Swiss Franc outlook · Swiss Franc COT positioning · SNB rate expectations · Swiss economic surprises
Other seasonality: USD/CHF in Nov −0.10% · NZD/USD in Nov +1.04% · EUR/CHF in Nov −0.27% · EUR/NZD in Nov −1.09% · GBP/CHF in Nov +0.43% · GBP/NZD in Nov −0.40% · AUD/NZD in Nov −0.97% · AUD/CHF in Nov −0.11% · NZD/JPY in Nov +2.12% · CHF/JPY in Nov +1.23% · all 39
In WatchTower Terminal, the Seasonality panel draws the NZD/CHF path through the year over 5, 10 and 15 years against this year. Not financial advice.