At 5.00 am ET Tuesday, Eurozone producer price figures are due from Eurostat. Economists forecast producer prices to fall 3 percent year-on-year in January, following a 2.7 percent drop in December. On a monthly basis, producer prices are forecast to drop 0.7 percent.

The euro fell against its major rivals ahead of the data. The euro was worth 1.1173 against the greenback, 1.0732 against the franc, 0.7271 against the pound and 133.87 against the yen at 4:55 am ET.

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