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EURCAD (EURCAD^)

Pairing – The amount of Canadian dollars (CAD) that one can buy for every European euro (EUR).

Position

EUR – World’s second most traded currency

CAD - World’s sixth most traded currency

Important factors

  • Eurozone – With 17 of the 27 member states of the European Union, and five other countries utilising the Euro, the economic situation within those specific countries, and in Europe as a whole has an impact on the value of the currency. The interest rate set by the European Central Bank also has a strong impact.
  • Political factors – it is not only the Euro that is affected by political changes and decisions, situations in Canada and in the US can affect the value of the dollar.
  • Commodities – The wide range of countries that use the Euro mean commodities are less of a factor with this currency. However, Canadian dollars can be affected by the price of oil, aluminium, timber, and more.
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Symbol
EURCAD^
Trading Hours
24 hours
Minimum Size
1,000 Notional or 0.01 Lot
Minimum stop distance
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