At 3.45 am ET Wednesday, Italy's services PMI data is due. Final PMI survey results are due from France and Germany at 3.50 am and 3.55 am ET, respectively. At 4.00 am ET, IHS Markit is set to issue euro area final composite PMI survey data.

Ahead of the data, the euro traded mixed against its major rivals. While the euro dropped against the pound, it rose against the rest of major rivals. The euro was worth 129.52 against the yen, 1.0735 against the franc, 0.8515 against the pound and 1.1870 against the greenback as of 3:40 am ET.

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