June futures on the S&P/TSX index were down 0.7% at 6:43 a.m. ET (10:43 GMT), mirroring losses in their Wall Street counterparts. [.N]

Energy shares could see another session of decline as oil edged lower after easing supply concern and escalating Middle East tensions offset data showing faster than expected growth in China's economy. [O/R]

Spot gold prices also fell amid high U.S. Treasury yields, while most non-ferrous metals dipped on a stronger dollar and disappointing economic data from China. [GOL/] [MET/L]

A monthly reading of the consumer prices index (CPI) in Canada is on the radar, which will have investors adjusting their bets on the timing of interest rate cuts by the Bank of Canada in the year.

The dataset follows BoC Governor Tiff Macklem's hint that the central bank was open to commencing the easing cycle in June if the recent cooling trend in inflation was sustained.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.7% lower on Monday, its lowest closing level in over a month. [.TO]

The sell-off was driven by climbing long-term borrowing costs and investor worry that the country's federal budget, due on Tuesday at 4:00 p.m. EDT, would propose raising taxes and re-apportion money.

On the corporate front, Tamarack Valley Energy temporarily shut its oil output production following a fire at a Canadian Natural Resources Ltd gas plant in Alberta, the companies said on Monday.

Meanwhile, in the U.S., Bank of America's first-quarter profit fell as the lender earned less from customer interest payments.


Gold futures: $2,374.3; +0.1% [GOL/]

US crude: $85.21; -0.2% [O/R]

Brent crude: $89.93; -0.2% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)