At 6.00 am ET Wednesday, Eurozone industrial output data is due. Economists forecast output to fall 0.4 percent on month in January, reversing a 0.4 percent rise in December.

Ahead of the data, the euro dropped against its major rivals.

The euro was worth 1.2364 against the greenback, 131.77 against the yen, 1.1695 against the franc and 0.8865 against the pound as of 5:55 am ET.

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