I lived a few years in Canada. My observation was that Canadian dollar was buying in Canada about the same value as $1USD in the US, even when it was only at 62 cents US. That's why Canadian goods were so much cheaper when you came to Canada with $$$ US.
The biggest challenge to newcomers to Canada is lean and mean job market. Canadian economy is at least 10 times smaller than US, so is the number of available positions, and Canadian job market is oversaturated with overqualified immigrants fighting for whatever few jobs are available. On top, Canadian employers can legally discriminate against immigrants by asking about Canadian work experience, and deny you a job if you don't have prior experience in Canada. This being said, it's a nice country to live if you manage to get a well-paid steady job and like cold winters.