New Zealand's decision on Wednesday to hold fire on a highly-anticipated rate hike is a reminder of the challenges major central banks face in their bid to step away from emergency stimulus while the coronavirus remains a threat to growth.
U.S. July retail sales data later on Tuesday could take on added significance after last week's University of Michigan survey showed consumer sentiment slumped to its lowest in a decade.
Central Europe's recovery accelerated in the second quarter, data showed on Tuesday, with the easing of lockdown restrictions helping offset the drag on manufacturing from global supply bottlenecks.