How is each of the following events likely to affect the value of the Canadian dollar relative to the euro? Be very specific in your answers and brief.

• Interest rates in the European Union increase relative to those in Canada.

• The European price level rises relative to the Canadian price level

• A Canadian company buys Canadian dollars with US dollars on the foreign exchange market

• The price level in Canada rises relative to the price level in Europe

• A Canadian company invests Canadian dollars to buy a European company in US dollars (not in euros).