EURCAD Price Movement: Crude Oil and Central Banks Take Center Stage

The EURCAD cross pair is a popular trading instrument that involves buying or selling the euro against the Canadian dollar, without any US dollar involvement.

One standard lot of EURCAD is equal to 100,000 euros, and one pip is worth 10 Canadian dollars. The price movement of EURCAD is driven by two main forces: crude oil prices and the policy gap between the European Central Bank (ECB) and the Bank of Canada.

The ECB raised its deposit facility rate to 2.25% in June 2026, while the Bank of Canada also maintained its overnight rate target at 2.25%. This parity has closed a gap that previously favored the Canadian side, making carry logic no longer applicable to this pair.

To trade EURCAD effectively, it's essential to understand the pip value, margin requirements, and best trading hours. The contract value of one lot is 100,000 euros, with a minimum tradeable size of 0.01 lots. Margin scales off the contract value rather than the pip value, and leverage can be as high as 1:500 on this pair.