European markets have opened in the red today, as investors took a breather following sharp gains registered in the previous trading session. Going forward, a raft of macroeconomic data across the Eurozone and the US would be closely tapped for further direction.

Closer home, the British Retail Consortium reported that its shop price index in the UK dropped 1.4% YoY in February, marking the biggest annual drop since the survey began over seven years ago. Later, markets participants would keep a close eye on UK services activity data.

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