MNI European Morning Briefing

     LONDON (MNI) - Although Tuesday's data releases are largely second tier,

there is plenty in the way of central bank appearances to keep market

participants on their toes.

     The European data calendar kicks off at 0800GMT, with the release of the

latest Spanish industrial orders and the latest services survey.

     At 0900GMT, RBA Governor Philip Lowe speaks at the Australian Business

Economists (ABE) Annual Dinner in Sydney, followed by an audience Q&A.

     In the UK, at 0915GMT, Bank of England Deputy Governor Jon Cunliffe, along

with MPC members Ian McCafferty, Gertjan Vlieghe and Michael Saunders will all

appear before the Treasury Select Committee to answer questions on the November

Inflation Report.

     At 0930GMT, the UK October public sector finances will be released. The

numbers will make interesting reading, coming just a day before the Chancellor

delivers his Autumn Statement.

     The latest CBI Industrial Trends survey will be published at 1100GMT.

     Across the Atlantic, the US data calendar gets underway at 1330GMT, with

the publication of the Philadelphia Fed Nonmanufacturing Index.

     The Canadian wholesale trade data will be released at the same time.

     At 1255GMT, the current week's Redbook Retail Sales Index will cross the

wire.

     Back on the Continent, at 1430GMT, Bundesbank Board member Carl-Ludwig

Thiele speaks at the anniversary celebration "10 Jahre TARGET2", in Frankfurt.

     The US October NAR existing home sales data will be released at 1500GMT.

     The pace of existing home sales is expected to rise slightly to a 5.41

million annual rate in October after a small uptick in September. Pending home

sales held steady in September and were down sharply from a year earlier, a

downside risk for the existing home sales data in October. Supply rose by 1.6%

in September, but was still down 6.4% from a year earlier, an indication that

the supply shortage continues.

     At the same time, ECB Executive Board member Benoit Coeure chairs the

Policy Panel "Economic convergence: before or beyond fiscal union" at an ECB

Conference in Frankfurt.

     Federal Reserve Chair Janet Yellen to participate "In Conversation with

Mervyn King" in New York, with an audience Q&A that starts at 2300GMT.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com