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At 3.30 am ET Wednesday, IHS Markit releases Germany's flash composite PMI. Economists expect the composite index to fall to 52.4 in July from 52.6 a month ago.
Ahead of the data, the euro fell against its major rivals.
The euro was worth 120.41 against the yen, 1.0993 against the franc, 0.8959 against the pound and 1.1144 against the greenback as of 3:25 am ET.
