The Euro cross with the Canadian Dollar (EUR/CAD) currency pair is always an exciting pair to trade. More often than not this exchange rate is used when market participants are looking to trade a market tied to risk, without the US Dollar variable and without needing to be exposed to too much risk through emerging markets. In short, this is a market used to play the risk trade within the developed currency basket and perhaps in a less volatile way than playing the Euro against the Australian or New Zealand Dollar, which are more exposed to China.
While the Eurozone economy is the largest in the world amongst the developed markets and second largest in the world behind China, the Canadian economy is considerably smaller though still quite sophisticated. As far as the Canadian economy goes, it is mainly driven off exports of OIL and vehicles. So if you’re looking to make a play on risk but don't want too much volatility and don't want to be exposed to the US or China directly, and perhaps have a view on OIL, the EURCAD pair could be the way to go.
Recent EUR/CAD Forex News
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Time Estimate: 3 minutes
Hope everyone is getting into the holiday spirit. It's an amazing time of year. Here's a tip to help you enjoy which may even make you a better trader.
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Time Estimate: 6 minutes
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