Flash Purchasing Managers' survey results from euro area and retail sales from the U.K. are due on Friday.

At 3.00 am ET, Markit releases flash PMI data for France. The manufacturing PMI is seen falling to 51.3 in January from 51.4 in December and the services index to rise to 50.1 from 49.8 a month ago.

In the meantime, Czech consumer and business confidence survey results are due.

At 3.30 am ET, Germany's PMI report is due. The manufacturing index is forecast to drop to 53 in January from 53.2 in prior month and the services indicator to ease to 55.5 from 56 in December.

At 4.00 am ET, Markit is slated to release Eurozone PMI results. The composite PMI is seen at 54.2 in January versus 54.3 in December.

Half an hour later, the Office for National Statistics is scheduled to issue U.K. retail sales and public finance reports. Economists forecast retail sales to drop 0.3 percent on a monthly basis in December reversing a 1.7 percent rise in November.

The British budget deficit is seen at GBP 10.5 billion in December compared to GBP 14.2 billion in November.

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