European stocks were set for a mixed open Tuesday as Chinese negotiators arrived in Washington ahead of the signing of a long-awaited preliminary trade deal with the U.S.
The U.S. Treasury Department on Monday dropped its designation of China as a currency manipulator, an apparent gesture of good will as a Chinese delegation led by Vice Premier Liu He arrived ahead of the signing of the partial trade accord. The deal comes after more than 18 months of tit-for-tat tariff hikes between the world's two largest economies.
Stocks in Asia mostly advanced on signs of a thawing in relations, with MSCI's broadest index of Asia-Pacific shares outside Japan gaining around 0.2%.remained below the $1.30 mark on Tuesday morning after U.K. economic growth slowed to its weakest since 2012 in November, boosting expectations of an interest rate cut from the Bank of England later this month.
There is no major economic data out of Europe on Tuesday, but investors may have one eye on a host of inflation and Redbook figures due out of the U.S. during the afternoon.
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