The best way to invest in Canadian dollars and Euros?

Currency markets are zero sum, meaning for every person that makes money someone else loses money. For that reason, I think you're better off investing in the stocks of Canadian or European companies rather than directly in the currency. Owning stock puts you in a position to benefit from positive moves in the currency market, but you'll also benefit from the underlying growth of the companies you own.

The easiest way to invest in foreign stocks would be to find a European or Canadian focused mutual fund. Look for a fund from a company with a good track record (Vanguard or Fidelity perhaps), and that has the smallest possible management fees.