Foreign trade data from France is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Turkish Statistical Office releases industrial production data. Economists forecast output to grow 0.4 percent on month in September, reversing a 0.1 percent fall in August.

At 2.45 am ET, France's foreign trade figures are due from the customs office. The trade deficit is seen widening to EUR 4.68 billion in September from EUR 4.5 billion in August.

At 3.00 am ET, industrial production from Spain and Hungary are due. Spain's industrial production is expected to grow at a faster pace of 3.1 percent on year in September, following August's 1.8 percent rise.

At 6.10 am ET, Poland's central bank is set to announce the outcome of its monetary policy meeting. The bank is forecast to keep its key rate unchanged at 1.50 percent.

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