Trudeau said he is resigning as leader of the Liberal Party but will stay on as caretaker prime minister until a new leader is chosen.

Canadian Prime Minister Justin Trudeau is more likely to announce his resignation, but he has yet to make a final decision, a source familiar with Trudeau's thinking said on Sunday. Reuters reported that they did not know definitely when Trudeau would announce his plans to step down but said it expected it would happen before an emergency meeting of Liberal legislators on Wednesday.

Canada's main stock index fell on Monday and the loonie notched a near three-week high, as investors weighed the uncertain timing of a potential shift in Canadian political power after Prime Minister Justin Trudeau announced plans to resign.