A light one on the data docket to start the week

Although the focus will continue to center around risk sentiment today, with the market keeping a broader view towards the FOMC meeting later in the week.

For now, contagion risks from the Evergrande fallout is reverberating and that is weighing on risk trades across the board. The dollar and yen are the notable beneficiaries, with commodity currencies - aussie in particular - weighed lower on the day.

AUD/USD is down 0.5% to 0.7230 and contesting its 27 August low as the descend continues since peaking on 3 September at 0.7478. AUD/NZD is also testing waters below 1.0300 as aussie sentiment remains on the softer side in general.

Elsewhere, oil is down 1% to $71.20 with equities also tilting lower going into European morning trade. I'd expect the vibes to continue and if anything else, be wary of an extension to the early moves in FX given the sour market sentiment.

There's room to roam considering that local markets in China are off today and tomorrow, seeing little scope for any major interventions by local authorities. But just be wary in case we do see some verbal intrusion, so headline risks are one to watch.

0600 GMT - Germany August PPI figures

Prior release can be found here. Another month, another increase in producer prices is estimated as supply bottlenecks and capacity constraints continue to bolster cost pressures not just in the German economy, but globally as well.

0800 GMT - SNB total sight deposits w.e. 17 September

Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.