At 5.00 am ET Wednesday, Eurostat is slated to release euro area retail sales and producer price figures. Economists forecast sales to remain flat on month in April.

Ahead of the data, the euro advanced against its major counterparts.

The euro was worth 1.1284 against the greenback, 122.15 against the yen, 1.1192 against the franc and 0.8871 against the pound as of 4:55 am ET.

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