European Economics Preview: Eurozone Final PMI, Retail Sales Data Due

Final Purchasing Managers' survey results and retail sales from euro area are the major reports due on Wednesday.

At 3.00 am ET, retail sales from Hungary and consumer and producer prices from Turkey are due. Sales are forecast to grow 4.8 percent annually in December after rising 4.4 percent in November.

Turkey's inflation is seen rising to 9.5 percent in January from 8.8 percent in December.

At 3.15 am ET, Markit is set to release Spain's services PMI for January. The indicator is seen easing to 54.3 from 55.1 in December.

Final services PMI figures are due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, Euro area Purchasing Managers' survey results are due. The composite PMI is seen at 53.5 in January, in line with flash estimate.

In the meantime, Norway's unemployment report is due. The jobless rate is forecast to remain unchanged at 4.6 percent in November.

At 4.30 am ET, U.K. CIPS/Markit services PMI is due. Economists expect the index to fall marginally to 55.4 in January from 55.5 in December.

At 5.00 am ET, Eurostat releases Eurozone retail sales data for December. Sales are forecast to rise 0.3 percent on month in December, reversing a 0.3 percent fall in November.

In the meantime, Italy's preliminary CPI figures are due for January. Prices had increased 0.1 percent year-on-year in December.