Canadian Prime Minister Justin Trudeau is expected to announce his resignation amid increasing pressure from his Liberal party, according to reports.

Trudeau's resignation would lead to a race for party leadership, and the winner would be the next prime minister of Canada.

Trudeau's departure would leave the party without a permanent head at a time when polls show the Liberals will "badly lose" to the official opposition Conservatives in an election that must be held by late October.

The pressure has been building for months, with sinking poll numbers for the prime minister's ruling Liberal Party.

Futures tracking Canada's main stock index inched higher on Monday ahead of crucial economic data in the week, while investors exercised some caution after reports Prime Minister Justin Trudeau likely to announce resignation.

Canadian Prime Minister Justin Trudeau is expected to announce as early as Monday that he will step down as leader of the ruling Liberal Party, Canadian media reports, ahead of a general election to be held later this year that he is widely expected to lose.

Canadian Prime Minister Justin Trudeau is expected to announce as early as Monday that he will resign as Liberal Party Leader, The Globe and Mail reported on Sunday, citing three sources. The sources told the Globe and Mail that they don't know definitely when Trudeau will announce his plans to leave but said they expect it will happen before a key national caucus meeting on Wednesday.