The Canadian dollar was little changed against its U.S. counterpart on Monday, as investors shrugged off lower oil prices and positioned for comments by Bank of Canada Governor Stephen Poloz and other events later this week.

At 4 p.m. ET, the loonie was trading at $1.3479 to the greenback, or 74.19 cents US, nearly unchanged.

The currency was driven by "technically-related" trading, with investors "jockeying for position" ahead of some key events, said Mazen Issa, senior FX strategist at TD Securities.

On Thursday, the Bank of Canada will release its review of developments in the financial system, followed by a news conference with Poloz.

Investors will weigh the central bank governor's assessment of the health of the housing and mortgage markets in light of recent troubles at non-bank lender Home Capital.

New listings of Toronto homes surged in May from a year earlier, while sales plunged and price gains slowed narrowly after rules aimed at cooling the city's red-hot housing market took effect, data on Monday showed.

The European Central Bank meeting and a parliamentary election in the U.K. are also due this week, while Canada's employment report for May is due on Friday.

Prices of oil, one of Canada's major exports, fell on concerns that top crude exporter Saudi Arabia and other Arab states' cutting of ties with Qatar could hamper a global deal to reduce production.      

U.S. crude prices settled 26 cents US lower at US$47.40 a barrel.

Bearish bets on the Canadian dollar have held near a record high, data from the Commodity Futures Trading Commission and Reuters calculations showed on Friday. Speculators cut net short positions on the loonie to 98,187 contracts as of May 30 from 99,109 a week earlier.             

Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries. The two-year price fell five cents to yield 0.715 per cent and the 10-year declined 11 cents to yield 1.413 per cent.

On Friday, the 10-year yield touched a nearly seven-month low at 1.382 per cent after weaker-than-expected U.S. employment data suggested a cautious approach to interest rate hikes from the Federal Reserve beyond June.