December futures on the S&P/TSX index were down 0.3% at 7:02 a.m. ET (1202 GMT), mirroring declines in their U.S. counterparts. [.N]

Copper and other base metals' prices slipped after data showed China's consumer prices fell the fastest in three years in November, while factory-gate deflation deepened.[MET/L]

A strengthening greenback also took the shine out of gold prices, while crude oil prices were down. [GOL/] [O/R]

Globally, investors turn their focus on major central banks as the Bank of England, U.S. Federal Reserve, and European Central Bank are due to announce their monetary policy decisions during the week.

All three central banks are expected to hold rates at current levels.

More inflation data out of the United States, including November consumer prices, would be on the watchlist ahead of the Fed's rate decision.

The Toronto Stock Exchange's S&P/TSX composite index rose in the previous session, driven by a surge in energy stocks, though finished the week 0.6% lower.

Among individual stocks to look out for, TD Securities downgraded Orla Mining to "hold" from "buy".

J.P.Morgan initiated coverage on Lithium Americas with a "neutral" rating.

Manulife Financial said it has agreed to reinsure C$13 billion of reserves, including C$6 billion, or 14% of total long-term care reserves, to Global Atlantic and its partners.

COMMODITIES AT 7:02 a.m. ET

Gold futures: $1,999.9; -0.3% [GOL/]

US crude: $70.68; -0.8% [O/R]

Brent crude: $75.35; -0.7% [O/R]

($1= C$1.3591)

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Shweta Agarwal)