The Federal Reserve released its industrial production report on Wednesday. The U.S. industrial production climbed 0.9% in January, missing expectations for a 0.4% increase, after a 0.7% decline in December. December's figure was revised down from a 0.6% fall.

The rise was mainly driven by increases in the manufacturing output and utilities.

Mining output was flat in January, while utilities production jumped 5.4%.

Manufacturing output rose 0.5% in January, after a 0.2% fall in December. December's figure was revised down from a 0.1% decrease.

Capacity utilisation rate increased to 77.1% in January from 76.4% in December, beating expectations for a rise to 76.7%. December's figure was revised down from 76.5%.