European Economics Preview: Germany Factory Orders Data Due

Factory orders from Germany and final composite Purchasing Managers' survey from euro area are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is set to release Germany's factory orders for March. Economists forecast orders to fall 10 percent on month after falling 1.4 percent in February.

At 3.00 am ET, retail sales figures are due from Hungary and the Czech Republic. The Czech retail sales are expected to fall 9 percent annually, following February's 7.4 percent increase.

At 3.15 am ET, IHS Markit releases Spain's services PMI data. The PMI is seen at 10.0 in April versus 23.0 in March.

At 3.45 am ET, Italy's services PMI data is due. Economists expect the index to decline to 9.0 in April from 17.4 in March.

Thereafter, final PMI survey data is due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit publishes euro area final composite PMI data. Economists expect the index to drop to 13.5 in April, as initially estimated, from 29.7 in March.

Half an hour later, UK IHS Markit/CIPS construction PMI survey data is due. The construction PMI is forecast to drop to 22.0 in April from 39.3 in March.

At 5.00 am ET, Eurostat releases euro area retail sales data. Sales are forecast to decline 10.5 percent on month in March, reversing a 0.9 percent rise in February.