According to an official statement from Google, the currency of the website is used to geo-locate your business:
“Other signals can give us hints. This could be from local addresses & phone numbers on the pages, use of local language and currency, links from other local sites, and/or the use of Google’s Local Business Center (where available).” source
As for the site languange, this is one of the strongest signals used by Google to rank websites. It’s highly unlikely that you will find content in Italian on google.ca, when performing a search query in English. However, if you change the language of the search results to Italian, you might find site in Italian, from countries other than Canada.