At 5.00 am ET Tuesday, Eurostat releases euro area producer prices for December. Producer prices are forecast to drop 0.7 percent on year, slower than the 1.4 percent decrease in November.

Before the data, the euro traded mixed against its major rivals. While the euro fell against the pound, it rose against the rest of major rivals.

The euro was worth 1.1056 against the greenback, 120.61 against the yen, 1.0710 against the franc and 0.8496 against the pound as of 4:55 am ET.

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