The relationship between the Canadian dollar and all those things is not very predictable. The one thing we've seen as a steady indicator of the level of the dollar has been our terms of trade, which are highly correlated with the oil price in most periods. It can be other things. If oil is constant and other commodity prices are rising, then the dollar might reflect that. Interest rate differentials, which you mentioned, are also a factor. On any given day, in any period, however, those two things could move in opposite directions. It's not just the actual interest rates; the expectations about interest rates also matter.
On October 24th, 2016. See this statement in context.