MNI Global Morning Briefing

     LONDON (MNI) - An early start in Germany is on the cards for Tuesday, with

the data starting at 0600GMT when the trade balance and industrial output data

are released. Previously, the m/m trade balance was EUR20.3 bn. Industrial

output previously grew by 2.6% m/m but analyst expect a slight correction with

the m/m growth expected to decline by 0.5%.

     Moving to France, at 0645GMT, the current account and foreign trade data is

slated for publication. Previously, the current account had a EUR2.9 bn deficit.

France's foreign trade deficit in May of EUR6 bn was the largest trade deficit

in fifteen months.

     Across the channel and the Halifax House Price Index in the UK is due at

0730GMT. the previous 3M Y/Y growth rate in house prices according to this index

was 1.8% compared to 1.9% in May.

     Moving stateside, at 1255GMT, the Redbook retail sales index is set for

release. Previously, m/m growth was 0.5%.

     At 1400GMT the IBD/TIPP Optimism Index is due. The previous index reading

was 56.4. At the same time, the job opening and labour turnover survey (JOLTS)

data. The prior opening level index value stood at 6638 and the quits rate was

at 2.4%.

     Over to Canada and at 1400GMT their Ivey PMI is published. The previous

index reading was 63.1.

     Back to the states at 1900GMT with their consumer credit month over month

data. Previously, the figure increased b USD 24.56 bn in May. It's forecast to

increase by USD 16.5 bn in June.

     Australia have two releases in the early morning. Starting with monthly

housing finance at 0130GMT, the previous m/m growth rate was 1.1%. An hour later

at 0230GMT, RBA Governor Philip Lowe speaks in Sydney.

     Next and the penultimate piece of data is in New Zealand, with the RBNZ

inflation expectations survey at 0300GMT. The previous 1-year and 2-year

expectations were 1.80% and 2.01% respectively.

     At some point in the early hours of Wednesday, China will release their

trade balance data. The previous trade balance was USD 41.61 bn in June.

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