In this currency pair, the Euro / Canadian Dollar reflects how many Canadian Dollars it takes to buy one Euro. Canadian crude oil exports are one of the country's largest exports, so pricing fluctuations and growth expectations are important factors in affecting this sector. In FX, the Euro is one of the most traded currencies and the largest monetary union in the world. In times of global economic uncertainty, the euro has been used numerous times throughout history as a funding currency. Trading EUR/CAD often offers more opportunities to intra-day traders as well as swing traders because of its slightly higher average true range than the majors.