About the USD to CAD rate
The Canadian dollar is often called a petrocurrency because Canada is a major oil exporter, so USD/CAD tends to loosen or tighten with crude oil prices — when oil rises, the loonie often strengthens against the US dollar, and vice versa.
Cross-border shopping and travel between the US and Canada is common enough that small movements in this rate get noticed quickly by everyday consumers, not just traders — a stronger Canadian dollar makes US cross-border shopping trips less of a bargain than usual.
Canada and the US are each other's largest trading partners, so shifts in trade policy or tariffs between the two countries can move this pair more than headline US dollar strength alone would suggest.