TORONTO -- North American stock markets look poised to open lower on Monday as capital controls took effect in Greece where concerns escalate that the country could be headed for a debt default.

The uncertainty weighed heavy across the globe, with Asian and European markets lower. Greece's market remained closed for the week.

The Canadian dollar is down 0.26 of a U.S. cent to 80.94 cents.

Wall Street was poised for a lower opening, with Dow futures and the broader S&P 500 futures down 1.2 per cent.

In commodities, the crude contract was down $1.24 at US$58.39 a barrel and the August gold contract rose $4 to US$1,177.20 an ounce.

The S&P/TSX composite index closed Friday at 14,808.09, after falling 89.41 points.