Finance, Forex and Investments

What has driven the changes between US and Canadian exchange rate between Jan 2007 and now?

I was wondering what the major driving factors have been behind the changes in the exchange rate between Jan 2007 and now for the US - Canadian Exchange rate.

Public Comments

1. Global economic condition
2. The price of oil for one. Canada is the biggest oil exporter to the USA. Canada sends about 3 million barrels per day to the States.That is 1.095 BILLION barrels per year. When oil was at $147/ barrel that was worth $160 billion US dollars. At today's price it is worth about $54 Billion US dollars. Canada also produces allot of materials like lumber, paper and metals. The prices of these have gone down a huge amount. In 2007 they were going way up.