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

At 3.00 am ET, the Hungarian Central Statistical Office is scheduled to issue retail sales for July. Economists forecast sales to grow 5.5 percent on year, following a 5.2 percent rise in June.

At 3.15 am ET, IHS Markit publishes Spain's services PMI report. Economists forecast the index to improve slightly to 53.0 in August from 52.9 in July.

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

At 4.00 am ET, Eurozone final PMI data is due. The PMI reading is seen at 51.8 in August, unchanged from the flash estimate.

At 4.30 am ET, IHS Markit releases UK services PMI data for August. The index is seen falling to 51.0 from 51.4 in July.

At 5.00 am ET, Eurostat releases euro area retail sales data for July. Sales are forecast to drop 0.6 percent on month, reversing a 1.1 percent rise in June.

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