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Foreign trade and industrial production figures from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to release Germany's industrial production and foreign trade reports. Industrial production is seen falling 0.5 percent on month in June, reversing a 2.6 percent rise in May.

Economists forecast Germany's exports to drop 0.4 percent month-on-month after rising 1.8 percent a month ago.

At 2.45 am ET, France's foreign trade figures are due. Economists forecast the trade deficit to narrow to EUR 5.5 billion in June from EUR 6 billion in May.

At 3.00 am ET, industrial output from Hungary and trade figures from the Czech Republic are due.

At 3.30 am ET, UK Halifax house price data is due. House prices are expected to rise 0.2 percent on month in July, following a 0.3 percent increase in June.

Also, at 3.30 am ET, Statistics Sweden releases industrial production and orders figures.