MNI Global Morning Briefing

     LONDON (MNI) - Its another relatively quiet data session Tuesday, with the

German ZEW survey and the UK April labour survey set to be the early highlights.

     The European calendar gets underway at 0530GMT, with the publication of the

latest French non-farm payrolls data.

     At 0830GMT, the UK April Labour market survey will be released.

     Tuesday brings about the latest UK labour market figures, granting MPs

enough time to digest the latest trends before PM's questions a day later.

     The April jobless rate is seen unchanged at 4.2% while earnings growth is

also seen unchanged on both a total basis (2.6% 3m y/y) and ex-bonus basis (2.9%

3m y/y).

     The main German release comes at 0900GMT, with the release of the June ZEW

Survey. The Economic Sentiment Index is seen at -14 after -8.2 in May, with the

current conditions forecast at 85 after 87.4 last.

     Across the Atlantic, the US calendar kicks off at 1000GMT, with the

publication of the NFIB Small Business Optimism Index.

     The main US data point comes at 1230GMT, with the release of the May CPI.

     The CPI is expected to rise 0.2% in May following weaker than expected

readings in the previous two months. The year/year rates should increase after

little movement in April. AAA reported another modest gain in mid-month prices

from April, which could support a further increase in CPI gasoline prices. The

core CPI is forecast to increase 0.2% following a softer-than-expected 0.1%

increase in April.

     The US Redbook Retail Sales Index will cross the wires at 1255GMT.

     Late US data will see the May Treasury statement released at 1800GMT. The

Treasury is expected to post a $144.0 billion deficit for May, widening from the

$88.4 billion gap in May 2017.

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