EUR/CAD

EURCAD is one of the most commonly traded currency pairs in the Forex market, the Euro is the base currency and the Canadian dollar is the denomination currency, indicating how many Canadian dollars are needed to buy 1 Euro. The pair is influenced by the macro policies of the European and Canadian central banks. During the European sovereign debt crisis in 2012, the exchange rate of the Euro and the Canadian dollar fell to the lowest level in history. Then it recovered slowly, boosted by the Direct Currency Trading (OMT) scheme launched by the European Central Bank. The Euro is the most significant result of European currency reform since the Roman Empire. Since crude oil is one of Canada's largest exports, the Canadian dollar is also sensitive to oil prices and expectations for global crude oil demand. On the other hand, the Euro area is the largest currency union region in the world, and the Euro is also one of the most popular varieties of Forex transactions in the world. Compared t