At 4 am ET Monday, the Ifo Institue is scheduled to release the business climate index for Germany. The headline index is forecast to increase to 106.4 in January from 105.5 in December. The current conditions index is estimated to rise to 110.8 from 109.8 and the expectations index is forecast to climb to 102.5 from 101.4.

Ahead of the data, the euro climbed against its major rivals.

The euro was worth 1.1231 against the greenback, 0.9964 against the franc, 0.7482 against the pound and 132.87 against the yen as of 3:55 am ET.

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