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MNI European Morning Briefing

MNI (London)
     LONDON (MNI) - Tuesday throws up a full calendar on both sides of the
Atlantic, with consumer confidence data likely to be an early theme, before new
Fed chair Jerome Powell takes centre stage in the afternoon.
     The European calendar kicks off at 0745GMT, with the publication of the
French consumer sentiment data.
     At 0745GMT, the Spanish preliminary February inflation data will be
released.
     ECB Executive Board member Yves Mersch will deliver a keynote address at
the 2nd Annual Conference on "FinTech and Digital Innovation: Regulation at the
European level and beyond" organised by Afore Consulting, in Brussels, starting
at 0805GMT.
     At 0900GMT, the EMU M3 money supply will be published, along with the
Italian ISTAT business and consumer confidence data.
     Further EMU data will be published at 1000GMT, when the Economic Sentiment
Indicator is published, along with the Business Climate Indicator and consumer
confidence data.
     ECB Gov. Council member Jens Weidmann and Buba Board member Carl-Ludwig
Thiele participate in a press conference "Publication of the Financial
Statements 2017", in Frankfurt from 100GMT. Buba Board member Joachim Wuermeling
participates in discussion at the 2nd Annual Conference on FinTech and Digital
Innovation, in Brussels at 1030GMT.
     German state February inflation will be released throughout Tuesday
morning, with the Federal pan-German data due at 1300GMT.
     Across the Atlantic, the US calendar kicks off at 1330GMT, with the
publication of the durable goods data and the advance business inventories
release.
     Durable goods orders are expected to fall by 2.5% in January, reversing the
2.8% gain in December. Boeing orders plunged to 28 from 265 in December,
suggesting nondefense aircraft orders could pull back after solid gains in the
previous two months. Orders excluding transportation are expected to post a 0.2%
increase after a 0.7% gain in December, showing little underlying movement.
     Federal Reserve Chair Jerome Powell's semi-annual monetary policy statement
to be released at 1330GMT, before he appears in front of the House Financial
Services Committee at 1500GMT.
     The US Redbook Retail Sales Index will be published at 1355GMT, before the
FHFA Home Price Index and the S&P Case-Shiller Home Price Index both get
released at 1400GMT.
     The US Richmond Fed Survey and the Conference Board Consumer Confidence
data are all set for release at 1500GMT.
     The index of consumer confidence is expected rise further to a reading of
126.3 in February after a rebound in January to 125.4, as rebounding stock
prices and the recently-passed tax cuts lifted the spirits of consumers. The
Michigan Sentiment Index rose to 99.9 in early-February from 95.7 in January,
despite the recent stock market gyrations.
     The Dallas Fed Services Survey will be published at 1530GMT. Late US data
will see the latest US farm prices data published at 2000GMT.
     The Canadian government will present the 2018 Budget at 2100GMT.
--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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