Canada is a nice country - they don't make too much of a fuss and we tend to overlook them from time to time. But the iShares MSCI Canada has had a nice couple of weeks, up 2.2% in that timeframe.

Canada is known for vast natural resources, too, and a return to commodities this week has helped push the fund up. Commodity producers and top holdings in the fund, such as Barrick Gold (3.2%) and Suncor Energy (4.3%), were feeling uplifted as a result.

Barrick Gold (NYSE: ABX [1]) is Canada's largest bullion mining company, while Suncor Energy is the world's second-biggest oil-sands mining company.

 If investors continue to look for natural resources in which to invest and prices for things such as oil, gold and grains, Canada should be a direct beneficiary.

Its economic well-being is tied to several factors beyond its natural resources, though: the strength of manufacturing and construction, the health of its financial sector, communication and transportation technologies, trade relationships with other nations and its ability to compete in a global marketplace.  

Inflation vexes the Canadian economy just as much as it does others, however: higher gas prices sent it surging to a five-year high of 3.4%, up from 3.1% in June. Core inflation at least remained unchanged  at 1.5%.  

 Check out Tom's new book iMoney here [2].