Stocks are beginning to come unhinged. The S&P 500 is down 6 points to 1407.
USD/CAD hasn’t traded at parity since early August.
Parity is always a big number for USD/CAD but it’s not particularly notable on the chart. The orderboard shows some offers at 0.9980, 1.0000/1.0010 and better volume at 1.0060, which I think we could see relatively soon, especially if 1400/1398 breaks in the S&P 500.
Canada just reported an April-Aug deficit of $6.2B compared to $9B a year ago but it’s not a factor for the market.
