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LONDON (MNI) - The calendar gets underway at 0600GMT Tuesday, with the
release of the ACEA Car Registrations. Previously, EU-wide y/y growth in car
registrations were 0.8%.
Next up is Industrial Orders at 0800GMT in Italy. Previously, m/m growth
contracted by 1.3% and y/y growth was at 6.4%.
The UK Labour Report is set for release at 0830GMT. Average weekly earnings
including bonuses are expected to remain unchanged in May from Aril's 2.5% on a
3m/3m y/y growth rate. However, core earnings is expected to fall a touch from
April's 2.8% to 2.7%. Unemployment appears to have remained robust in May, with
analysts pencilling in an unchanged figure from April at 4.2%.
Up next is the final HICP data for Italy, EXPECTED AT 0900gmt. The previous
y/y rate was 1.5%.
Moving to Canada in the afternoon is the monthly survey of Manufacturing at
1230GMT. After a previous decline of 1.3% in manufacturing sales, growth is
expected to pick up to 0.2%.
Industrial production in the US is expected at 1315GMT and is seen rising
0.5% in June after a surprise decline in May on a special factor -- a fire at a
truck supply plant. Factory payrolls rose by 36,000 in June, while auto
production jobs rose by 12,000 and the factory workweek was rose to 40.9 hours,
up from 40.8 hours in May. The ISM production index rose to 62.3 in the current
month from 61.5 in the previous month. Utilities production is expected to
flatten in the month after a further gain in the previous month, but with an
upside risk due to warmer-than-usual weather. Mining production is expected to
continue it's string of gain. Capacity utilization is forecast to rise to 78.3%
from 77.9% in May.
However, undoubtedly the event with the most attention in the US will be at
1400GMT when Federal Reserve Chair Jerome Powell delivers his semi-annual
testimony to Congress.
Finishing up at 0030GMT is the Westpac-MI leading index in Australia.
Previously, the index reading was 97.77.
--MNI London Bureau; tel: +44 203-586-2225; email: email@example.com