Purchasing Managers' survey from the UK and retail sales from euro area are due on Wednesday, headlining a light day for the European economic news.

At 3.00 am ET, retail sales data from Hungary is due. Sales are forecast to grow 4.4 percent on year in August, following a 4.2 percent rise in July.

At 3.45 am ET, IHS Markit is slated to release Italy's services PMI data. The index is expected to fall to 55 in September from 55.1 in August.

Thereafter, final composite PMI figures are due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit publishes Eurozone composite PMI report. The final reading is expected to match the flash score of 56.7 in September.

At 4.30 am ET, UK Markit/CIPS is scheduled to release services PMI for September. Economists forecast the reading to remain unchanged at 53.2.

At 5.00 am ET, Eurostat is scheduled to issue euro area retail sales data. Sales are forecast to grow 0.3 percent on month in August, in contrast to a 0.3 percent fall in July.

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