At 5:00 am ET Wednesday, Eurostat is set to issue euro area inflation figures for January. Inflation is seen at 1.8 percent in January, in line with preliminary estimate.

Ahead of the data, the euro showed mixed trading against its major rivals. While the euro fell against the U.S. dollar and the yen, it rose against the Swiss franc and the pound.

As of 4:55 am ET, the euro was trading at 0.8443 against the pound, 1.0643 against the Swiss franc, 1.0510 against the U.S. dollar and 118.93 against the yen.

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