The Canadian dollar was firmer on Monday ahead of key Canadian retail sales data, helped by stronger equity and commodity prices, including a record level for gold, and broad-based U.S. dollar weakness.

The greenback fell against an array of currencies as investors flocked to the cyclical, commodity-related currencies.

At 8 a.m. (1400 GMT) Canada's currency was at C$1.0571 to the U.S. dollar, or 94.60 U.S. cents, up from Friday's C$1.0699 to the U.S. dollar, or 93.47 U.S. cents.

It continues to be a U.S. dollar story as it responds to higher equities and gold, so with the U.S. dollar weaker across the board, the currency profile is showing cyclical, commodity and risk type carry trade currencies ... all performing well as equity markets are showing higher valuations, said Jack Spitz, managing director of foreign exchange at National Bank Financial in Toronto.

The U.S. dollar fell broadly on Monday after dovish comments from a U.S. Federal Reserve official added weight to expectations that U.S. monetary policy would stay ultra-loose for a prolonged period. [USD/]

Gold hit a record high at $1,167.45 an ounce on Monday as dollar weakness pushed the metal through key technical resistance levels, fueling momentum buying after the metal's sharp run higher earlier this month.[GOL/]

Oil prices rose more than 1 percent above $78 a barrel on Monday because of weakness in the dollar and signs of buoyant demand from China, the world's second-largest energy consumer.[O/L]

Investors were waiting for monthly Canadian retail sales figures due out at 8:30 a.m. which could provide a good look at the mood of the consumer as the holiday shopping season ramps up.

The two-year bond CA2YT=RR was down 1 Canadian cent at C$99.98 to yield 1.245 percent, while the 10-year bond CA10YT=RR was down 1 Canadian cent at C$102.85 to yield 3.384 percent. ($1=$1.06 Canadian)