FX.co ★ European Markets Set for Lower Open

European stock markets were set for a downward opening on Wednesday as investors braced for a new wave of corporate earnings reports from major companies such as Adidas, Airbus, Mercedes-Benz, UBS, and Banco Santander, among others. In economic data, attention will focus on Spain's third-quarter GDP figures and Italy's producer price index. Meanwhile, it is widely anticipated that the US Federal Reserve will announce a 25 basis point interest rate cut later today, while the European Central Bank is expected to maintain its current policy stance at its meeting on Thursday. Additionally, all eyes are on the upcoming meeting between President Trump and President Xi in South Korea, where they are expected to finalize an agreement that could halt the escalation of US tariffs and China's restrictions on rare earth exports. In premarket trading, futures for both the Euro Stoxx 50 and Stoxx 600 were down approximately 0.1%.