* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
* Investors caution on lack of detail in trade deal
* China trade data add to signs of weakness in economy
* Asian stocks gain, European shares fall
* Wall Street futures down 0.2%
By Ritvik Carvalho
LONDON, Oct 14 (Reuters) - A global index of stock markets
slipped on Monday as signs of progress in the China-U.S. trade
dispute drew mixed a reaction from investors, with some
cautioning over a lack of detail in the initial stages of the
agreement.
Stock markets in Asia cheered U.S. President Donald Trump's
outlining the first phase of an agreement to end a trade war
with China and suspending a threatened tariff hike European shares slipped.
The pan-European STOXX 600 index .STOXX was down 0.75% in
early trade in London.
Germany's DAX .GDAXI , dominated by companies exposed to
China, slipped 0.5%. All European country indexes were in the
red. .EU
MSCI's All-Country World Index .MIWD00000PUS , which tracks
shares across 47 countries, was down 0.06% on the day.
The emerging trade deal, covering agriculture, currency and
some aspects of intellectual-property protection, would
represent the biggest step by the two countries in 15 months.
But investors advised caution.
"While a positive development, we are not absolutely certain
that this marks the start of a clear de-escalation of the trade
dispute," said Mark Haefele, chief investment officer at UBS
Global Wealth Management. A number of issues were unresolved or
unclear, in his view.
"A delay to the scheduled December tariffs was not
announced, although that's likely if a deal is reached, and the
state of provisions on intellectual property, forced technology
transfer, and Chinese state subsidies, the most difficult
aspects of the negotiations, are still unclear."
Contributing to the gingerly reception of phase 1 of the
trade agreement were data showing a further contraction of
Chinese exports and imports in September. Liquidity was also lacking with Japan off and a
partial market holiday in the United States for Columbus Day.
Australia's main index gained 0.54% .AXJO and South Korea
.KS11 rose 1.11%. Shanghai blue chips .CSI300 added 1%.
E-Mini futures for the S&P 500 ESc1 were down 0.2% after
rising on Friday.
The drag from the trade war was a major reason Singapore's
central bank eased monetary policy on Monday for the first time
in three years. Data showed the city-state's economy had only
narrowly dodged recession. WEEK FOR BREXIT
The progress on trade was still enough to hit safe-haven
bonds. Yields on U.S. 10-year Treasury notes rose to 1.7530%
The yield curve also steepened as short-term rates were held
down by news the Federal Reserve would start buying about $60
billion per month in Treasury bills to ensure "ample reserves"
in the banking system. The fading rally in risk assets as European markets opened
saw the Japanese yen regain ground against the dollar. The
currency was 0.2% higher to the dollar at 108.22 JPY= .
The dollar .DXY gained 0.2% against a basket of
currencies.
Sterling fell to $1.2556 GBP= , retreating from a 15-week
high of $1.2708 on Friday on optimism Britain could reach a deal
on Brexit with the European Union. However, both British and EU
officials said on Sunday more work would be needed to secure an
agreement. More talks will be held on Monday before a summit of EU
leaders in Brussels on Thursday and Friday.
Spot gold gained 0.05%, last trading at $1,490.20 per ounce
XAU= .
Oil prices pared gains made on Friday after reports that an
Iranian state-owned oil tanker had been attacked in the Red Sea.
Investors were also watching Turkey's incursion into Syria
as the White House threatened to impose sanctions on Ankara.
Brent crude LCOc1 futures eased 1.14% to $59.82 a barrel.
U.S. crude CLc1 lost 1.04% to $54.13 a barrel.