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European Shares Seen Higher At Open

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European stocks look set to open on a firm note Friday, a day after the European Central Bank approved a new round of bond purchases and promised more support to the euro zone economy as long as necessary.

Investors now await rate decisions from the Fed, BOJ, SNB and BOE next week as the U.S.-China trade war threatens to trigger a global recession.

U.S. Treasury Secretary Steven Mnuchin claimed in an interview with CNBC that President Donald Trump could strike a trade deal with China at "any time" but only wants to do a "good deal" that's good for U.S. companies and workers.

Asian markets are gaining ground after the U.S. and China took steps to ease trade tensions and Trump announced that he's planning a tax cut directed at middle-income households next year.

Gold edged lower on improved risk appetite and the Japanese yen held near a six-week low versus the dollar while oil extended recent losses on concerns about global growth and slowing demand.

Foreign trade data from euro area is due later in the session, headlining a light day for the European economic news.

Across the Atlantic, reports on retail sales and consumer sentiment are likely to be in focus.

Overnight, U.S. stocks rose to reach their best closing levels in over a month as traders reacted to conflicting reports regarding an interim U.S.-China trade deal ahead of face-to-face negotiations in the coming weeks.

The Dow Jones Industrial Average inched up 0.2 percent while the tech-heavy Nasdaq Composite and the S&P 500 gained around 0.3 percent each.

European markets advanced on Thursday as U.S.-China trade worries eased and the European Central Bank cut interest rates and announced a massive new bond-buying program in the final rate-setting session chaired by the outgoing President Mario Draghi.

The pan European Stoxx 600 gained 0.2 percent. The German DAX and France's CAC 40 index both rose by 0.4 percent while the U.K.'s FTSE 100 edged up 0.1 percent.

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