EUR/CAD

EUR/CAD

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EURO CANADIAN DOLLAR TRADING

The EUR/CAD currency pair is determined by the euro's exchange rate against the Australian dollar. Its value reflects the number of Australian dollars (the quote currency) required to purchase one euro (the base currency). This currency pair combines two of the most often traded currencies and is influenced by a variety of factors. Due to Australia's proximity to Asia, trade between the two continents can have an effect on the currency's performance, particularly in commodities trading. The euro can also be influenced by the European Central Bank's interest rate decisions, so traders should pay particular attention to the central bank's monthly policy pronouncements.

History of the Euro

The euro was debuted on January 1, 1999, after a decade of preparation, initially as a 'invisible' currency used mainly for accounting and electronic payments. It was launched on January 1, 2002, and it was the largest cash changeover in history in 12 EU countries.

EUR/CAD Forex Chart
Instrument: EUR/CAD
Spread: floating
Leverage: 1:20
Margin: 5.00%
Minimum Nominal Trade Size: 1000
Overnight Interest (daily) Sell: -0.26%
Overnight Interest (daily) Buy: -5.44%
Trading Hours (GMT): 24/5
MT5 / MT4 Symbol: EUR/CAD

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EUR/CAD Trading FAQs

There is no one-size-fits-all optimal timing to trade a given currency pair, as swings can be impacted by a wide variety of factors. However, periods of strong liquidity and volatility typically have extremely low spreads, which for EUR/CAD happens between 13:00 and 17:00 GMT.

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