USDJPY United States Dollar vs Japanese Yen

Revised quarterly national accounts from euro area, economic sentiment from Germany and inflation from the UK are due on Tuesday, headlining a hectic day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers' Association is slated to issue new car registrations data. Europe's sales had increased 11.2 percent in March.

At 2.45 am ET, France's final inflation data is due. Inflation is expected to match the flash estimate of 1.2 percent in April.

At 3.00 am ET, GDP data is due from the Czech Republic and Hungary. The Czech economy is forecast to grow 2.3 percent annually in the first quarter. At the same time, Hungary's GDP is expected to expand 3.2 percent year-on-year after rising 1.6 percent in the fourth quarter.

Half an hour later, Dutch GDP data is due. Economists forecast the economy to grow 0.5 percent on quarter in the first three months of 2017.

At 4.00 am ET, Italy's Istat publishes quarterly national accounts for the first quarter. The economy is forecast to grow 0.2 percent sequentially in the first quarter.

At 4.30 am ET, the Office for National Statistics releases UK inflation and producer prices for April. UK inflation is expected to rise to 2.6 percent from 2.3 percent in March. Economists forecast output prices to increase 3.4 percent annually, after rising 3.6 percent in the prior month.

At 5.00 am ET, Eurostat is slated to publish euro area flash GDP estimate and foreign trade data. According to initial estimate, the economy expanded 0.5 percent sequentially in the first quarter.

The euro area trade surplus is forecast to fall to EUR 18.7 billion in March from EUR 19.2 billion in February.

In the meantime, Germany's ZEW economic sentiment survey results for May are due. The economic confidence index is seen rising to 22.0 in May from 19.5 in April.

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