MNI Global Morning Briefing

     LONDON (MNI) - Kicking off a busy Thursday is Switzerland at 0545GMT. The

previous unemployment rate was 2.6%.

     Moving to Canada in the afternoon at 1215GMT is their Housing Starts data.

The previous housing starts index was 248.1 and is anticipated to drop to 220.0.

At 1230GMT is the New Housing Price Index. The prior y/y growth was 0.9%.

     Over to the States at 1230GMT with their level of initial jobless claims

data. The level is expected to hold steady at 218,000 in the August 4, keeping

claims in a fairly tight range that has slowly trended lower over the last

month. The four-week moving average would rise by only 750 in the coming week as

the 215,000 level in the July 7 week rolls out of the calculation, assuming the

MNI forecast is correct and there are no revisions.

     Also at 1230GMT in the US is the producer price index. Final demand PPI is

expected to rise by 0.3% in July after larger gains in the previous two months.

Energy prices are expected to slow following a 0.8% June increase and a 4.6%

surge in May, while food prices are expected to rebound after a 1.1% decline.

Excluding food and energy prices, PPI is forecast to rise 0.2% after 0.3% gains

in the previous two months.

     Wholesale trade is next and the final piece of data from the States at

1400GMT. Previous wholesale inventories and sales growth were 0.6% and 2.5%

respectively. The forecast for wholesale inventories growth is an unchanged

figure.

     Japan have two key releases at 2350GMT with corporate goods price index and

GDP. Previously, the core goods price index rose 2.8% y/y and is expected to

tick up to 2.9%. GDP on a q/q basis declined by 0.2% in Q1 but is expected to

grow by 0.2% in Q2.

     The RBA conclude the calendar with a statement on monetary policy at

0130GMT.

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