U.S. Therefore when the U.S struggles so does Canada, and vice versa.  More recently, Canada's exports have increased markedly to China. This is a result of increased orders that have been going to its massive oil and forestry industries.  Canada is a stable democracy with solid reserves of natural resources like Australia; however, its coupling with the U.S has affected the country more so in terms of economic development. Canada has arguably come out of recession in better condition than the U.S with lower unemployment and economic growth higher. Because of its link with the US, the CAD remains weak in a historical sense against the AUD. ZAR influencers  Interest rates in S.A are currently 5.0%  Unemployment is around 25%  It is the biggest economy in Africa, accounting for about 25% of the continent's GDP.  South Africa, although having stable growth prospects (3.5%+ per year), suffers from high unemployment, high levels of crime and inequality. These issues have affected investment and growth in what potentially could be a very fast growing economy.  South Africa has strong mining, agriculture, and service sectors.  The ZAR has weakened against all crosses over the last 10 years and heavily against the AUD.