CAD Holds Steady Amidst Economic Uncertainty

The Canadian dollar held relatively steady on Tuesday morning as currency traders awaited the US Federal Reserve's interest rate decision, set for Wednesday.

The CAD was trading at US$0.7188 or US$1=C$1.3912 at 9:07 a.m. CDT, slightly down from Monday's close of US$0.7190 or US$1=C$1.3909.

Economic uncertainty and rising mortgage rates contributed to a decline in Canadian home sales in August, according to data released by the Canadian Real Estate Association on Tuesday.

Home sales fell 0.7% compared to the previous month, marking a 6.9% annual decline.