Yes. Canada exports more natural resources that it imports. Therefore, when there is a natural resource boom or an increase in the price of natural resources, this increases the value of our exports, which automatically increases the value of the Canadian dollar.
Note that this increase in the value of the Canadian dollar helps stabilize the resources sector, because when the price of oil goes up from $60 to $80 and the Canadian dollar increases at the same time, oil revenues—in Canadian dollars in Canada—are stabilized. Thus, fluctuations in the Canadian dollar stabilize the natural resources sector, because they follow the cost of raw materials, but they destabilize the manufacturing sector, which exports products.