The Canadian dollar weakened against the other major currencies in the Asian session on Monday, as the fall in crude oil prices dampened investor sentiment. This week, investors will focus attention on the first U.S. presidential debate and an OPEC meeting in Algiers.

Crude oil prices came under pressure on Friday after reports that Saudi Arabia does not expect an output agreement to stabilize the market in talks in Algiers this week. WTI crude for November delivery plunged $1.84 or 3.97 percent to settle at $44.48 a barrel on the New York Mercantile Exchange.

Last Friday, the Canadian dollar showed mixed trading against its major rivals. While the loonie fell against the U.S. dollar, the euro and the Australian dollar, it held steady against the yen.

In the Asian trading, the Canadian dollar fell to a 5-day low of 76.51 against the yen, from Friday's closing value of 76.66. The loonie may test support near the 75.00 region.

Against the euro and the U.S. dollar, the loonie dropped to 1.4803 and 1.3179 from last week's closing quotes of 1.4777 and 1.3166, respectively. If the loonie extends its downtrend, it is likely to find support around 1.49 against the euro and 1.32 against the greenback.

The loonie edged down to 1.0033 against the Australian dollar, from an early high of 1.0009. On the downside, 1.01 is seen as the next support level for the loonie.

Looking ahead, the German Ifo business climate index for September and U.K. BBA mortgage approvals for August are due to be released later in the day.

At 4:30 am ET, European Central Bank's executive board member Yves Mersch and Swiss National Bank Governing Board Chairman Thomas Jordan are expected to speak at Sibos 2016 financial industry conference, in Geneva.

In the New York session, U.S. new home sales data for August is slated for release.

At 8:30 am ET, European Central Bank's member of the supervisory board, Ignazio Angeloni, speaks at a conference "Strengths and Weaknesses of European Banking" organized by Brevan Howard Centre and Imperial College Business School, in London.

At 9:00 am ET, European Central Bank President Mario Draghi will testify before the Committee on Economic and Monetary Affairs of European Parliament, in Brussels.

At 9:30 am ET, Minneapolis Fed President Neel Kashkari participates in a fireside chat moderated by Harry Melander, president of the Minnesota Building and Construction Trades Council and board member of the Federal Reserve Bank of Minneapolis, in Minneapolis, U.S.

Fifteen minutes later, European Central Bank Vice President Vitor Constancio is expected to speak at a conference, in Frankfurt.

At 11:45 am ET, Federal Reserve Governor Daniel Tarullo will deliver a speech titled "Next Steps in the Evolution of Stress Testing" at the Yale School of Management Leaders Forum, in New Haven.

At 12:00 pm ET, Austrian National Bank Governor and ECB Governing Council member Ewald Nowotny is expected to speak on the future of banks, in Vienna.

At 1:30 pm ET, Federal Reserve Bank of Dallas President Robert Kaplan will participate in moderated Q&A before the Independent Bankers Association of Texas Annual Convention, in Dan Antonio.

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