U.S. EIA weekly crude inventories, Cushing stocks and Strategic Petroleum Reserve data for the week to June 26 are due in 10 minutes.

Monex Europe analysts say EUR would likely fall further if Wednesday's eurozone inflation print undershoots estimates and ECB president LAGARDE tempers odds of more hikes. Recent weak data from Germany, France and Italy increase the probability of a softer CPI print, which would reinforce the view the ECB will pause after last month's rate increase. LAGARDE's remarks at the ECB forum in Portugal on Wednesday could cement that outlook.

Eurozone preliminary June CPI (YoY and MoM) due in 10 minutes.