FX.co ★ European Economic News Preview: UK Inflation Data Due

Consumer and producer prices from the UK and business sentiment from Germany are due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for April. Inflation is forecast to ease to 8.3 percent in April from 10.1 percent in March. Output price inflation is seen at 8.6 percent in April compared to 8.7 percent in March.

At 4.00 am ET, ifo business confidence survey results are due from Germany. Economists expect the business confidence index to fall to 93.0 in May from 93.6 in April.

At 6.00 am ET, the Confederation of British Industry publishes Industrial Trends survey results. The UK order book balance is seen at -19 percent versus -20 percent in April.