November existing home sales figures are out at 10:00 a.m. and October's FHFA home price index is also due for release at 9:00 a.m.
Heading into the final two weeks of the year, limited liquidity is likely to heighten the severity of market moves, particularly during the holiday periods of Christmas and New Year's Eve, when most Western markets will be closed.
"The market is likely to be driven increasingly by positioning, year-end related flows and momentum rather than relative economic fundamentals over the less liquid holiday period. The U.S. dollar could weaken both modestly and temporarily during this period as the market remains heavily long U.S. dollars as evident in the latest IMM positioning report," said currency analyst at Bank of Tokyo-Mitsubishi UFJ, Lee Hardman.
Oil prices edged away from multi-year lows on Tuesday, but mild weather and ballooning supplies mean that prices are expected to remain depressed into 2016.