EUR/CAD price today

The euro to Canadian dollar rate (EUR/CAD) shows how many Canadian dollars one euro is worth. This pair puts a large energy-importing economy against one of the world's major oil exporters, so oil prices, along with the policies of the two central banks, are a constant driver. On this page you can see the live EUR/CAD rate, the candlestick chart and technical events, and below you'll learn about the structure of this cross, the key economic data, pip value and the best times to trade.

What is EUR/CAD and how is it formed?

EUR/CAD is a "cross" pair, meaning the US dollar isn't part of it. The euro is the base currency and the Canadian dollar is the quote currency. When the number rises, the euro has strengthened, and when it falls, the Canadian dollar, which traders call the "Loonie", has become stronger. The nickname comes from the image of the loon bird on Canada's one-dollar coin.

The price of this cross is roughly the product of euro to dollar (EUR/USD) and US dollar to Canadian dollar (USD/CAD) . So if the US dollar weakens globally, EUR/USD goes up and USD/CAD goes down, and these two effects partly cancel each other out in EUR/CAD. As a result, EUR/CAD reflects the difference between Europe and Canada more than the strength of the US dollar. Like other crosses, its liquidity is lower than the major pairs and its spread is usually wider.

In Iran, the Canadian dollar is mostly bought and sold for immigration, education and family money transfers. You can see its Toman rate on the Canadian dollar price page and the Toman rate of the euro on the euro price page; the ratio of the two is usually close to the global EUR/CAD.

Oil: the distinctive factor for EUR/CAD

Canada is one of the world's largest oil producers, and most of its oil exports go to the US. The eurozone, on the other hand, imports a large share of its energy. The result of this structure is simple: higher oil prices usually raise Canada's foreign currency income and add costs for Europe, so the pressure on EUR/CAD is usually downward; lower oil prices have the opposite effect. That's why many traders of this pair keep the crude oil chart open as well.

That said, this relationship isn't permanent or precise. In periods when interest rate decisions or economic data carry more weight, the effect of oil fades, so don't treat the correlation as a fixed rule.

There's one more point: oil is priced in US dollars, but EUR/CAD contains no dollar at all. That's why the effect of oil is sometimes seen more cleanly in this cross than in USD/CAD, because general swings in the US dollar are largely removed from the equation, and what remains is a comparison of the economic conditions of Europe and Canada.

Two central banks: the ECB and the Bank of Canada

The European Central Bank (ECB) sets the eurozone's interest rate, and the Bank of Canada (BoC) sets Canada's. The Bank of Canada announces its decisions on pre-scheduled dates, usually during North American business hours, i.e. in the evening Tehran time. Because Canada's economy is closely tied to the US, the Bank of Canada's policy is often partly aligned with the Federal Reserve's path, but not always identical, and these differences create opportunities for moves in EUR/CAD. See the current interest rate gap between the two on central bank interest rates .

Key economic data for EUR/CAD

Follow the exact dates and times of these events in Tehran time on the Teagle economic calendar .

Best time to trade EUR/CAD

Most of this pair's volume forms during the overlap of the London and New York/Toronto sessions: roughly 15:30 to 19:30 Tehran time during European summer and 16:30 to 20:30 in winter. Canadian data and active oil pricing also fall in these hours. In the mornings, before London opens, EUR/CAD is usually quiet and has a wider spread. See the exact session times on world market hours .

Pip value and volatility behavior

A pip in EUR/CAD is the fourth decimal place (0.0001). For one standard lot (100,000 euros), each pip is worth 10 Canadian dollars; for 0.1 lot, 1 Canadian dollar, and for 0.01 lot, 0.1 Canadian dollar. To convert to US dollars, divide this number by the USD/CAD rate; so the dollar value of each pip isn't fixed and changes with the day's rate. Calculate position size, pips and swap precisely with the Teagle trading calculator .

In terms of volatility, EUR/CAD sits in the middle of the range: usually more active than EUR/USD and calmer than pound crosses such as GBP/CAD and yen crosses. Its sharp moves are mostly seen on days when Canadian and US jobs data are released at the same time or when oil prices jump.

Correlations and analysis tips

• Inverse relationship with oil: In many periods, rising oil prices go hand in hand with a decline in EUR/CAD.
• Positive correlation with USD/CAD: Both pairs have the Canadian dollar as the quote currency, and a weaker Loonie pushes both higher.
• EUR/USD: Moves driven by European news are usually seen in both EUR/USD and EUR/CAD; if only one moves, the source is probably on the other side.
• Other euro commodity crosses: EUR/AUD also puts the euro against the currency of a raw-materials exporter, but its main driver is China's economy and metals rather than oil.

The "Technical Events" and "Technical Analysis" sections of this page summarize indicator signals for this symbol.

Risk management tips

• Take news-heavy Fridays seriously: The simultaneous release of jobs data from the two North American countries can widen spreads and cause slippage.
• Don't count oil risk twice: If you have trades in both oil and EUR/CAD at the same time, they may effectively be a single bet on the oil price.
• The right broker: Because of sanctions, Iranian users usually work with foreign brokers; compare cross spreads and swap terms before signing up in forex broker reviews .

See other currency pairs in the list of forex market symbols . The information on this page is for informational purposes only and is not a buy or sell recommendation; rates are obtained from the stated sources and may differ slightly from your broker's prices. Trading with leverage carries high risk, and you may lose part or all of your capital.