At 5.00 am ET Wednesday, Eurostat is slated to issue euro area industrial production for September. Industrial output is expected to fall 0.2 percent on a monthly basis, following a 0.4 percent rise in August.

The euro traded mixed against its major counterparts ahead of the data. While the euro declined against the yen and the franc, it recovered against the greenback and the pound.

The euro was worth 119.96 against the yen, 1.1018 against the greenback, 1.0902 against the franc and 0.8569 against the pound at 4:55 am ET.

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