MNI Global Morning Briefing

     LONDON (MNI) - Tuesday's gets underway at 0700GMT, when Spain's

unemployment data is released. The y/y growth rate previously declined by 6.04%.

     The Riksbank policy decision is next at 0730GMT. No change is seen in the

official repo rate, but there is some suggestion the central bank may amend its

forex intervention mandate.

     After a previous recovery in the UK Construction PMI to 52.5, June's

figure, due at 0830GMT, is expected to maintain the 52.5 recorded previously.

     Moving to Europe at 0900GMT, the Euro Area Industrial Producer Prices and

Retail Trade data is released. Previously, producer prices grew 2% y/y, whereas

retail trade data grew 1.7% y/y.

     After the Riksbank policy decision Riskbank Governor Stefan Ingves will

participate in a press conference on the interest rate announcement in

Stockholm, starting at 0900GMT.

     In the US, factory orders (1400GMT) are expected to come in flat in May.

Durable goods orders fell by 0.6% in the month on a decline in nondefense

aircraft orders and motor vehicles, while nondurables orders are expected to

strong due to price related gains in the energy components. Durable orders

excluding transportation were down 0.3%, suggesting factory orders excluding

transportation may also be soft.

     Domestic-made vehicle sales in the US (1400GMT) are expected to hold

relatively steady in June after holding at 9.9 million in May. Seasonal

adjustment factors will subtract slightly less from June sales than they did

from May sales.

     At 1600GMT, ECB Executive Board member Peter Praet speaks at a Gala Dinner

hosted by the National Bank of Romania in Bucharest.

     The AI Group services index in Australia is at 2230GMT with a previous

reading of 59.0.

     Moving back to the UK is the BRC Monthly Shop Price Index at 2301GMT. Shop

price growth in May saw a fall of 1.1% y/y.

     Australia's monthly trade balance and retail trade is at 0130GMT. A

previous trade balance of AUD977 mn is expected to rise of AUD1.025 bn. Retail

trade is expected to decline from its previous m/m growth of 0.4% to 0.2%.

     Finishing the calendar is China with the Caixin services PMI at 0145GMT

which had a previous index reading of 52.9.

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