Wednesday, only major statistical reports due for the day are German wholesale prices and UK DCLG house prices.

The German wholesale price report is due at 2.00am ET. Wholesale prices are forecast to drop 0.3% month-on-month in March, following a 0.1% decrease in February. Year-on-year, decline in the wholesale price index is seen at 7.1%.

Reports due at 3.00am ET are Czech producer and import prices and Spanish consumer prices. Czech producer prices are forecast to drop 0.6% year-on-year in March. Meanwhile, economists expect Spanish consumer prices to drop 0.1% annually in March and to rise 0.1% from the previous month.

In the meantime, the Hungarian statistical office is set to issue a final report for February's industrial output.

At 4.30am ET, UK's DCLG house prices data for February is due. In January, house prices had declined 11.5%.

Thereafter, Icelandic unemployment details for the first quarter are due. The jobless rate in the last quarter of 2008 was 4%.

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