Course EUR(Euro)-CAD(Canadian Dollar) for today

Euro

The central bank in Europe is called the European Central Bank (ECB). Currently, 17 EU member states have adopted the Euro. It is the second-most traded currency on the forex market, after the US Dollar, and also a major global reserve currency. Other common names for the Euro include Yoyo (Irish English), Leru (Spanish), and Ege (Finnish).

• Central bank: The European Central Bank
• The euro is used by over 320 million Europeans and 17 nations in the eurozone (euro area).
• Over 175 million people use currencies pegged to the euro, such as the Danish krona (DKK) and West African CFA franc (XOF).
• Eurozone economies vary widely. Germany is the largest economy, and a leading world exporter. Other economies (Ireland, Greece) endure sovereign debt and severe government austerity measures.

Canadian Dollar

Importance of the Canadian Dollar The Canadian Dollar is the seventh-most traded currency on the Forex market, as many institutions and individuals trade the CAD. People also refer to the CAD as the Loonie, buck, Huard, and Piastre (in French). The Canadian Dollar is held as a reserve currency by a number of central banks. It is also known as a commodity currency, due to the country's substantial raw material exports.

• Central bank: The Bank of Canada
• The Canadian dollar (CAD) is also known as the loonie.
• The CAD is called a “commodity currency” because Canada is a world leader in resource exports: oil, lumber, fish, food, and many types of minerals—copper, nickel, potash, uranium, gold.
• Canada usually has a modest trade surplus, with 70% of its exports going to the U.S.