European Economic News Preview: Eurozone Foreign Trade Data Due

(RTTNews) - Foreign trade and current account reports from the euro area are the top economic news due on Tuesday.

At 2.00 am ET, Destatis is scheduled to issue Germany's producer prices data for April. Economists forecast producer prices to fall 3.2 percent on a yearly basis, following a 2.9 percent decrease in March.

At 4.00 am ET, the European Central Bank publishes euro area current account figures for March. The current account surplus is seen rising to EUR 30.2 billion in March from EUR 29.5 billion in February.

At 5.00 am ET, Eurostat is set to release euro area foreign trade data for March. Economists forecast the trade surplus to fall to EUR 19.9 billion from EUR 23.6 billion in February.

At 6.00 am ET, the Confederation of British Industry issues monthly Industrial Trends survey data.

At 8.00 am ET, Hungary's central bank announces its monetary policy decision. The bank is expected to cut its key rates by 50 basis points.