MNI Global Morning Briefing

     LONDON (MNI) - Weak Wednesday is back with little to report on. One release

worth keeping an eye on will be the RBNZ and their official cash rate decision

later on in the calendar.

     Starting off, in France at 0630GMT, is the BoF business survey. The

previous manufacturing and sentiment index readings were 101.0 and 103.0

respectively.

     Up next at 0700GMT is industrial production in Spain. The y/y growth rate

was previously 1.6%.

     The OECD leading indicator for the Euro Area is at 1000GMT. The prior index

reading was 99.9.

     The States have one speech at 1245GMT from Richmond Federal Reserve Bank

President Thomas Barkin in Roanoke, Virginia.

     The afternoon throws up a couple of second tier data releases, with the DOE

weekly crude oil stocks expected at 1430GMT and the Kansas City Fed LMCI at

1500GMT.

     Straight to New Zealand at 2100GMT, and the RBNZ monetary policy statement

and official cash rate decision will cross the wire. Analysts are anticipating

an unchanged cash rate at 1.75%. A press conference follows at 2200GMT.

     Moving to Japan at 2350GMT and they release their machinery orders data.

Previous m/m growth of -3.7% is expected to moderate slightly to -1.0%.

     Concluding the calendar at 0130GMT is China's CPI and PPI data. The y/y

growth rate in CPI is expected to remain unchanged at 1.9%. However, the y/y

growth rate in PPI is expected to drop 0.3pp to 4.4% from 4.7% previously.

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