Investing.com – The Canadian dollar fell to a 2-day low against the greenback on Thursday, after the European Union's statistics agency showed that Greece's budget deficit was larger than previously thought.
USD/CAD hit 1.0019 during European afternoon trade, its highest since Tuesday; the pair subsequently consolidated around 1.0015, gaining 0.19%.
The pair was likely resistance at 1.0216, Monday's high, and short-term support at 0.993, Wednesday's low.
Earlier in the day, Eurostat, the EU agency, revised Greece's 2009 budget deficit to 13.6% of gross domestic product from 12.7%. The Greek/German 10-year government bond yield spread grew to 562 basis points in the wake of the figures, to its widest in 12 years. Meanwhile, the cost of insuring Greek debt from default jumped to record highs.
The loonie also fell versus the yen, with CAD/JPY shedding 0.47% to reach 92.77.
Later Thursday, the United States was set to release data on existing home sales, a key indicator of the housing market.
USD/CAD hit 1.0019 during European afternoon trade, its highest since Tuesday; the pair subsequently consolidated around 1.0015, gaining 0.19%.
The pair was likely resistance at 1.0216, Monday's high, and short-term support at 0.993, Wednesday's low.
Earlier in the day, Eurostat, the EU agency, revised Greece's 2009 budget deficit to 13.6% of gross domestic product from 12.7%. The Greek/German 10-year government bond yield spread grew to 562 basis points in the wake of the figures, to its widest in 12 years. Meanwhile, the cost of insuring Greek debt from default jumped to record highs.
The loonie also fell versus the yen, with CAD/JPY shedding 0.47% to reach 92.77.
Later Thursday, the United States was set to release data on existing home sales, a key indicator of the housing market.