(fxcue news) - European stocks look set to open lower on Tuesday after data showed China's exports growth slowed in November and imports declined the most in 14 months, fueling worries about the health of the world's second-largest economy. Exports rose 6.7 percent in U.S. dollar terms from a year ago, sharply lower than the 12.7 percent growth in the previous month while imports surprised with a decline of 3.9 percent. Investors also await cues from upcoming U.S. CPI data for November and the ECB policy meeting. Reports on U.S. consumer and producer price inflation are due to be released on Wednesday and Thursday, respectively, while economists expect the European Central Bank to cut interest rates by 25 bps for the third time in a row when it meets on Thursday. Traders are also leaning towards rate cuts in Canada and Switzerland later this week. The Federal Reserve's rate decision is due on Dec. 18, with analysts expecting a 25-bps cut. That said, there is some uncertainty about whether the U.S. central bank will continue cutting rates early next year. According to Chicago Federal Reserve president Austan Goolsbee, the Fed may reach the neutral rate by the end of 2025. Asian markets were mostly higher, a day after China's top leaders pledged to loosen monetary policy and provide more support for the slowing economy. South Korean stocks rebounded from recent declines amid efforts by authorities to calm market jitters. The U.S. dollar edged to the highest level this month against the yen as the conflict in Syria escalates. The Australian dollar sank towards a four-month low after the central bank softened its tone on the policy outlook. Gold ticked higher while oil prices declined after rising sharply in the previous session. U.S. stocks ended lower overnight after climbing to record highs Friday. The Dow dipped half a percent while the tech-heavy Nasdaq Composite and the S&P 500 both shed around 0.6 percent as the Middle East conflict escalated and key inflation data loomed. European stocks closed higher for an eighth straight session on Monday as investors weighed the prospect for bolder Chinese monetary and fiscal stimulus next year. The pan European STOXX 600 edged up by 0.1 percent. France's CAC 40 climbed 0.7 percent and the U.K.'s FTSE 100 added half a percent while the German DAX slid 0.2 percent.