European shares trade lower ahead of US-China deal signing

European shares slipped on Tuesday as investors awaited the signing of an phase 1 of the trade agreement between the US and China as well as the start of the fourth-quarter corporate earnings season.

The STOXX 600 index fell 0.2%. The CAC 40 is down 0.60%, Germany's DAX is off 0.54%, and the FTSE 100 is lower by 0.19%.

In further signs of goodwill, the US Treasury Department on Monday dropped China’s designation as a currency manipulator, Reuters reported.

Another report said that China pledged to raise buying of US manufactured goods over the next two years.

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