UK consumer prices and German ZEW economic sentiment survey results are due on Tuesday.

At 2.00am ET, the German producer prices report is expected from the Federal Statistical Office. On a yearly basis, producer prices are forecast to rise only 0.1% in March compared to a 0.9% rise in February. From February, producer prices are predicted to drop 0.3%.

The Swedish central bank is scheduled to announce its interest rate decision at 3.30am ET. The Riksbank is expected to cut the interest rate to a record low of 0.5%. The Riksbank is also set to publish how the individual members of the Executive Board voted at the same time as the monetary policy decision is communicated.

Afterwards, the Italian statistical office ISTAT is slated to release February's trade balance at 4.00am ET. The total trade surplus stood at EUR 3.58 billion in January.

At 4.30am ET, the British CPI data is due from Office for National Statistics. Annual inflation is forecast to ease to 2.9% in March from 3.2% in February. Economists expect a month-on-month increase of 0.2%.

After remaining flat in February, UK retail prices are predicted to fall 0.5% in March from the previous year. Excluding mortgage interest payments, retail prices are expected to rise 2.2% annually.

Thereafter, German ZEW survey results are due at 5.00am ET. Economic sentiment in the largest Eurozone economy is seen at 2 in April, reversing a negative reading of 3.5 in March. Meanwhile, the current situation index is forecast to fall to minus 90 in April from minus 89.4 last month.

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