MNI Global Morning Briefing

     LONDON (MNI) - A much needed busier Tuesday is on the cards with Europe's

PMI data for July paving the way for a more interesting calendar.

     Starting at 0645GMT, the French business climate indicator, manufacturing

sentiment and services sentiment data are all set for release. The prior

readings were 106.0, 110.0 and 104.0 respectively.

     France follow this up at 0700GMT with their manufacturing and services

flash PMI estimates. Previous June readings were 52.5 and 55.9 respectively.

     Germany are next at 0730GMT. The June manufacturing PMI stood at 55.9 and

is forecast to drop to 55.5 in July. The June services PMI had a reading of 54.5

and is not expected to change in July.

     Putting this together results in the Eurozone's composite, manufacturing

and services PMI at 0800GMT. The June composite reading of 54.9 is anticipated

to drop to 54.8 for July. Manufacturing is expected to drop a touch from 54.9 to

54.6 and services is anticipated by analysts to move down a touch from 55.2 in

June to 55.0 in July.

     The UK gets underway at 1000GMT, albeit with one data release for the day

-- the CBI Industrial Trends survey. Previous price intentions balance and order

books balance were both at 13 in June.

     Moving to the afternoon is the Philadelphia Fed Nonmanufacturing index

which had a previous reading of 39.1

     At 1500GMT, the UK Parliament rises for its summer break, although Brexit

and the negotiations with the EU will continue to dominate throughout the

summer.

     The penultimate event of the day is New Zealand's monthly trade balance at

2245GMT. Previously, the trade balance was NZD 294 mn, but this is expected to

narrow to NZD 175 mn.

     The Australian quarterly CPI data is at 0130GMT. A previous underlying y/y

rate of 1.95% is expected to drop to 1.9%.

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