Consumer and producer prices from the UK and new car registrations from Europe are the major reports due on Wednesday.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for April. Inflation is expected to climb to 9.1 percent in April from 7.0 percent in March. Output price inflation is seen at 12.5 percent versus 11.9 percent in the previous month.

In the meantime, the European Automobile Manufacturers' Association is set to issue Europe new car registrations data for April.

At 4.30 am ET, UK house price data is due from the Office for National Statistics.

Half an hour later, Eurostat releases eurozone final HICP data. The statistical office is set to confirm 7.5 percent inflation for April.

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