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MNI European Morning Briefing

MNI (London)
     LONDON (MNI) - Wednesday throws up another basket of mixed data, although
again it is largely second tier.
     The European calendar gets underway at 0630GMT, with the publication of the
Bank of France business survey.
     At 0800GMT, the latest June industrial production numbers will be released.
     There is no UK data scheduled for Wednesday, but the Bank of England's
latest Agents' Business Summary will be published at 0830GMT.
     Across the Atlantic, the US calendar gets underway at 1100GMT, with the
release of the MBA weekly applications index.
     At 1215GMT, Canadian CMCH Housing Starts will be released. That will be
followed at 1230GMT by the publication of the US Preliminary Non-Farm
Productivity data.
     Nonfarm productivity is expected to rise 0.8% in the second quarter, above
the flat reading in the first quarter as the output component will lift the
headline figure. Unit labor costs are expected to rise only 1.1% in the second
quarter after a 2.2% rise in first quarter, taking into account the faster
productivity growth.
     At the same time, Canadian building permits data will be released.
     US wholesale trade data will be published at 1400GMT, followed by the DOE
weekly crude oil stocks data at 1430GMT.
     Then, at 1500GMT, the Kansas City Fed LMCI will cross the wire.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com