MNI European Morning Briefing

     LONDON (MNI) - There is very little data on the schedule in Europe Tuesday

and the US calendar throws up largely second tier releases.

     The calendar gets underway at 0700GMT, with the publication of the German

December manufacturing orders. At 0900GMT, the German VDMA machine orders data

will cross the wires.

     ECB Governing Council member Jens Weidmann is slated to speak in Frankfurt,

starting at 0900GMT.

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

release of the US trade data. The Canadian trade report will be published at the

same time.

     The US international trade gap is expected to widen further to $52.0

billion in December from a $50.5 billion gap in November. The advance estimate

of the Census goods trade gap widened to $71.6 billion, with exports up 2.7% and

imports up 2.5%.

     At 1350GMT, St. Louis Fed President James Bullard is scheduled to speak.

     The latest Redbook Retail Sales Index will be published at 1355GMT. At

1500GMT, the IBD/TIPP Optimism Index will be published, alongside the latest

JOLTS data.

     Also due at 1500GMT is the Canadian Ivey PMI survey.

     Back in Europe, at 1800GMT, Bundesbank Board member Joachim Wuermeling is

scheduled to speak.

     Late US data includes the publication of the latest Treasury STRIPS data at

2000GMT.

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