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MNI European Morning Briefing

MNI (London)
     LONDON (MNI) - Wednesday sees a reduced data calendar in the UK, but there
is plenty to keep the markets occupied from the US later in the day.
     The European data calendar gets underway at 0600GMT with the release of the
German manufacturing orders data.
     At 0755GMT, the ECB Supervisory Board chair Daniele Nouy will give a speech
at the 22nd Handelsblatt annual meeting, in Frankfurt.
     The Italian July retail sales data will be released at 0800GMT,
     Across the Atlantic, the US calendar gets underway at 1100GMT, when the MBA
weekly applications index is published.
     Back in the UK, at 1100GMT, the UK Parliament is back in focus, as the
weekly PMQs session takes place.
     The US calendar continues at 1230GMT, with the publication of the US trade
data.
     The international trade gap is expected to widen modestly to $44.8 billion
in July. The advance estimate of the Census goods trade gap widened to $65.1
billion in July, with exports down 1.3% and imports down 0.3%.
     At the same time, the Canadian trade numbers and Labour productivity data
will cross the wires.
     The latest US Redbook Retail Sales Index will be released at 1255GMT,
followed by the final August Markit Services Index at 1345GMT.
     Bundesbank Board member Andreas Dombret speaks at the anniversary of
Handelsblatt, in Frankfurt, from 1350GMT.
     At 1400GMT, the Bank of Canada will announce their latest policy decision.
     The US August ISM Non-Manufacturing Index is also expected at 1400GMT.
     The ISM nonmanufacturing index is expected to rebound to a reading of 55.6
in August after falling to 53.9 in July. The flash Markit Services estimate rose
to 56.9 in August from 54.2 in July.
     The Federal Reserve releases the Beige Book for upcoming FOMC meeting at
1800GMT, while late data sees the US Treasury STRIPS at 1900GMT.
--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

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