European markets are set to open mixed on Tuesday morning, as investors monitor a fresh batch of economic data.

The FTSE 100 is expected to start 12 points higher at 7,704; while the German DAX is seen down by 17 points at 13,351 and the CAC 40 is set to open 4 points lower at 5,484, according to IG.

In Asia, shares flirted with record highs after the Bank of Japan narrowly reduced its bond purchases and tensions on the Korea Peninsula cooled. After rare talks between North and South Korea on Tuesday, Pyongyang said it would send a delegation of athletes and high-ranking officials to the Winter Olympics in South Korea next month.

Stateside, investors appeared to turn cautious ahead of corporate earnings after Wall Street had seen the best start to a calendar year in more than a decade. The Dow Jones industrial average, broader S&P 500 and tech-heavy Nasdaq composite were all little changed in the previous session.

Back in Europe, Germany is expected to release a slew of data at around 7 a.m. London time, including imports, exports and industrial production.