Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:00 Japan Bank holiday

06:00 Germany Producer Price Index (MoM) August 0.0% -0.3% -0.5%

06:00 Germany Producer Price Index (YoY) August -1.3% -1.5% -1.7%

10:00 Germany Bundesbank Monthly Report

The U.S. dollar traded higher against the most major currencies ahead of the release of the U.S. existing home sales data. The existing home sales in the U.S. are expected to decrease to 5.53 million units in August from 5.59 million units in July.

The FOMC member Dennis Lockhart will speak at 17:00 GMT.

The euro traded lower against the U.S. dollar after the negative economic data from the Eurozone. German producer price index (PPI) producer prices declined 0.5% in August, missing expectations for a 0.3% fall, after a flat reading in July.

On a yearly basis, German PPI dropped 1.7% in August, missing expectations for a 1.5% decrease, after a 1.3% fall in July.

PPI excluding energy sector fell by 0.5% year-on-year in August.

The Bundesbank said in its monthly report on Monday that the German economy is likely to continue to expand in the second half of the year due to an increase in domestic consumption and exports. Household spending benefited from low oil and energy prices.

Alexis Tsipras' Syriza party has won the parliament election on Sunday. Syriza has won 35.47%. It was the fifth snap election in the country over the last six years.

The time is needed to form the new government. Syriza has no majority and it will form a coalition with the nationalist Independent Greeks.

Only 55% of Greeks voted on Sunday, down from 63% in January.

The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K.

The Canadian dollar traded loweragainst the U.S. dollar ahead of the release of the wholesale sales data from Canada.

EUR/USD: the currency pair decreased to $1.1242

GBP/USD: the currency pair fell to $1.5504

USD/JPY: the currency pair rose to Y120.38

The most important news that are expected (GMT0):

12:30 Canada Wholesale Sales, m/m July 1.3%

14:00 U.S. Existing Home Sales August 5.59 5.53

17:00 U.S. FOMC Member Dennis Lockhart Speaks

18:45 Canada BOC Gov Stephen Poloz Speaks