Final inflation data from euro area is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers Association is scheduled to issue Europe's passenger car registrations data for May.

In the meantime, Norway's foreign trade data is due.

At 4.00 am ET, Istat is scheduled to issue Italy's foreign trade data for April. The trade surplus totaled EUR 5.41 billion in March.

At 5.00 am ET, Eurostat releases final inflation data for May. Eurozone inflation is seen at 1.4 percent in May, unchanged from the flash estimate.

At 6.30 am ET, Russia's central bank is expected to announce its interest rate decision. The bank is widely expected to cut its key rate by 25 basis points to 9.00 percent.

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