Canada is set to release its gross domestic product for May at 8:30 am ET. The Canadian GDP is expected to slow to 0.2 percent in the month compared to a 0.3 percent increase in April. Annually, the economy is expected to expand 2.6 percent from 2.0 percent growth recorded in the previous month.
Canada's industrial product price and raw materials price indexes for June are also due out at 8:30 am ET. Both are expected to show negative reading in the month.
The Canadian dollar edged lower against its major rivals ahead of the data. As of 8:25 am ET, the loonie was trading at 1.2335 against the euro, 1.0030 against the greenback and 78.0 against the yen.
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