At 2.00 am ET Wednesday, Destatis is slated to issue Germany's final consumer prices for January. According to preliminary estimate, consumer prices rose 1 percent annually after falling 0.3 percent in December.

The euro traded mixed against its major counterparts ahead of the data. While the currency fell against the franc, it held steady against the rest of major rivals.

The euro was worth 126.82 against the yen, 1.0810 against the franc, 1.2126 against the greenback and 0.8776 against the pound at 1:55 am ET.