EUR to CAD Forecast - July 2025

What’s driving these movements?

Several key factors are influencing the current trend:

Central bank policies

• The European Central Bank (ECB) and the Bank of Canada (BoC) have both paused interest rate changes, but the BoC may resume rate cuts soon.

• Canada’s economy is showing signs of stress: unemployment is rising and trade is softening. This increases the likelihood of future rate cuts, which could weaken the Canadian dollar further.

• Meanwhile, the euro is holding up, not because the eurozone is booming, but because it’s seen as a stable alternative to a weakening U.S. dollar.

Oil prices and the Canadian dollar

• Oil is crucial to Canada’s economy. Recent volatility in oil prices, driven by Middle East tensions and possible supply increases, is creating pressure on the CAD.

• If oil prices drop further, expect more weakness in the Canadian dollar, which would push EUR/CAD higher.

Global economic sentiment

• Investors are cautious due to concerns about global growth, which reduces demand for commodity-linked currencies like CAD.

• The euro benefits from this cautious sentiment, as investors seek more stable holdings.

Technical view and key levels to watch

Keep an eye on the following numbers if you're planning to send EUR to Canada:

• Resistance: If EUR/CAD gains momentum, it could rise toward 1.5857, a level not seen since mid-2020.

• Support: On the downside, if CAD regains strength, EUR/CAD could fall to 1.5590 or even 1.5290.

The euro is currently trading above key moving averages (50-day and 9-day), which suggests a strong trend.

A breakout above 1.5650 could lead to more gains for the euro.

However, some technical indicators show mixed momentum. If the euro dips below 1.5590, it may slide back toward the 1.52–1.53 range.

What could change this outlook?

Here are a few scenarios that could shift the trend:

• Economic data releases - employment or inflation numbers from either region can impact expectations.

• Oil price fluctuations - higher oil prices may strengthen CAD; lower prices would weaken it.

• Monetary policy updates - any rate cut by the BoC would likely weaken the Canadian dollar and push EUR/CAD higher.

Is it a good time to convert CAD to EUR?

Sending money from Canada to Europe

Now may not be the ideal time. The weak Canadian dollar means you’ll get fewer euros per CAD.

If EUR/CAD continues to rise, your exchange rate will worsen. Consider sending EUR to CAD soon if you're concerned about further decline.

Sending money from Europe to Canada

This is a favorable time to send euros to Canada. The strong euro means your money goes further.

If the euro keeps climbing, you might get even more CAD, but waiting comes with some risk if sentiment shifts.

Live EUR to CAD exchange rates

Converting EUR to CAD

If you are planning to send EUR to Canada, you need to pick the right money transfer company to get the most CAD on the other end.

Depending on your needs, it's best to use one of the following companies in July:

*Based on our data of 7,000 EUR transfer from Germany to Canada in July 2025. For other amounts, please run a live search to get the best exchange rate.

History of the EUR to CAD Price

The euro to Canadian dollar pair is a forex cross-currency pair made up of the European Union and Canadian currencies. The EU is the second-biggest economy in the world, with a combined GDP of over $16 trillion and a population of over 447 million people. Canada, on the other hand, is the tenth largest economy with a GDP of over $1.6 trillion and 36 million people.

Canada and countries in the European Union have had a long relationship and share unique characteristics. For example, they are both democracies and are members of key organizations like the OECD, G20, and G7.

The EUR/CAD pair was started in 2002 when the EU shifted to the euro. Before that, trade was mainly dominated by the Canadian dollar and the respective currencies. For example, Germany used the Deutsche mark currency.

For years, the EUR to CAD pair has been relatively stable. It reached a peak of 1.7507 in December 2008 and then moved to its all-time low of 1.2138, according to TradingView At its lowest point, the pair was about 30% below its all-time high. The pair has dropped by about 7.50% in the past five years and risen by ~10% from its lowest level in 2022.

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