MNI European Morning Briefing

     LONDON (MNI) - Monday's calendar illustrates how everybody feels on a

Monday - slow. 

     The double release from the US of the employment trends index and BLS State

Employment is at 1400GMT. This comes off the back off surprise strength in

nonfarm payrolls up to 313,000 which was a much larger gain than expected and

following a sharp net upward revision to December and January payrolls.

Shortly after at 1500GMT, sees the NY Fed survey of consumer expectations and

the US concludes with the Treasury Budget at 1800GMT. 

     The ECB begin at 1445GMT with call for bids on 7-day MRO followed by the

latest PSPP data at 1450GMT. BBK Board member Joachim Wuermeling's speech in

Germany concludes the EU calendar at 1600GMT.

     At 2350GMT, the Bank of Japan release the February corporate goods price

index (CGPI). The MNI median forecasts at +2.6% year on year suggest a 14th

straight rise vs. +2.7% in January. The m/m estimate is slightly lower at +0.2%

vs. +0.3% in January.

     Not the jam packed schedule as desired however there should be some pick up

during the week with the US releasing their CPI figures on Tuesday at 1230GMT

matched at the same time with the much anticipated UK Budget. France's HICP and

CPI estimates come out on Wednesday at 1440GMT. 

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