Canadian dollar has always been called "commodity currency" in the foreign exchange market, and its exchange rate is often greatly influenced by commodity price fluctuations. There is a close positive correlation between the trend of Canadian dollar and crude oil price. The rise in crude oil prices will increase Canada's export earnings and raise its economic growth expectations, thus attracting more investors to buy Canadian dollars. Canada is the seventh largest exporter of crude oil in the world, and crude oil exports account for a large part of its GDP.