The EUR/CAD is the currency pair for the Euro(EUR) and the Canadian dollar(CAD). It is the seventh-most-traded cross currency pairing on the forex. It offers traders an opportunity to trade the economics of the European Union while avoiding the undue risk that is attributed to global macroeconomic factors. The Euro has one of the largest circulation in Forex and serves as a major world reserve currency. On the other hand, CAD is a commodity currency that is heavily reliant on the price of energy commodities most notably crude oil. Among the greatest influences of the pair include US economy, monetary policy decisions made by the Bank of Canada and the European Central Bank, commodity prices, political unrest and any changes in the Eurozone.