Markets in Asia on Wednesday will digest a barrage of data released during the European and U.S. trading session Tuesday, including U.S. personal spending and euro zone GDP.

In the U.S., the core personal consumption expenditure (PCE) price index for June – which is watched by the Federal Reserve as an estimate of inflation — rose 1.5 percent on-year, Reuters said. The PCE price index rose 0.1 percent on-month in June, reflecting tepid inflation, Reuters reported.

Meanwhile, U.S. consumer spending rose just 0.1 percent in June, while the ISM manufacturing index stood at 56.3, reflecting an expansion in factory activity.

The greenback was a tad higher overnight after hitting a 15-month low earlier in the session on a mix of political uncertainty stateside and market expectations of further rate hikes from the Fed.

The dollar index, which measures the dollar against a basket of rival currencies, stood at 93.043 at 6:51 a.m. HK/SIN, off a session low of 92.777 touched earlier. Against the yen, the dollar fetched 110.36 yen, off a low of 110.28 yen seen earlier in the overnight session.

In Europe, a preliminary reading on gross domestic product (GDP) from the European Union reflected that second-quarter economic growth in the euro zone was healthy, Reuters reported. The EU’s estimate reflected GDP rose 0.6 percent in the second quarter, compared with the quarter before, and 2.1 percent on year.

In Asia, futures tipped a higher open for Japanese equities. Nikkei futures traded in Chicago were up 0.46 percent at 20,080 and Osaka futures 0.16 percent higher at 20,020. The benchmark Nikkei 225 index closed at 19,987.79 in the previous session.

In Australia, SPI futures were down 1.06 percent at 5,711, against the S&P/ASX 200‘s last close of 5,772.372.

Stateside, equities finished the Tuesday session higher as earnings season continued. Of the S&P 500 companies that have reported quarterly results, 72 percent have beat the Street, compared with the typical quarter’s average of 64 percent topping expectations, Thomson Reuters data showed.

The Dow Jones industrial average rose 0.33 percent, or 72.8 points, to close just under the 22,000 mark at 21,963.92. Meanwhile, the S&P 500 gained 0.24 percent, or 6.05 points, to end at 2,476.35 and the Nasdaq added 0.23 percent, or 14.81 points, to finish at 6,362.94.

Potential market movers include Japan’s Honda and Sony. Both companies reported first-quarter results after the market close Tuesday, with Honda topping earnings expectations and Sony announcing record profit.

Hong Kong-listed Macau gaming stocks could also be in focus after the Asian gaming hub said gross gaming revenues rose 29 percent on-year in July, Reuters reported.

On the earnings front, Rio Tinto and Standard Chartered Bank were among the big names due to report results Wednesday.

The economic calendar for the Asian trading day is fairly light (all times in HK/SIN):

9:30 a.m.: Australia June building permits

4:30 p.m.: Hong Kong June retail sales

5:00 p.m.: Reserve Bank of India decision due