MNI Global Morning Briefing

     LONDON (MNI) - Friday's calendar cools after an eventful Thursday. Data

kicks off at 0600GMT, when German construction orders and the final estimate of

Q2 GDP in Germany are released. Construction orders m/m previously grew by 4.6%.

Germany is expected to have grown by 0.5% for Q2.

     Next up, at 0700GMT Spanish producer price index is set for release. The

prior y/y growth was 4.1%.

     US durable goods orders are set for release at 1230GMT. Orders are expected

to decline by 1.1% in July after a 0.8% gain in June. Boeing reported only 30

orders in July, down very sharply from 233 orders in June, so aircraft orders

are likely to retrace in the July report after a June increase. However, not all

of the June surge in Boeing orders was reflected in the durables report that

month, so there is an upside risk to the July data. New orders excluding

transportation are expected to rise by 0.3% after a 0.2% gain in the previous

month.

     Half an hour later at 1300GMT is the BNB Business Sentiment Index. The

previous index value was -1.3.

     At 1900GMT Federal Reserve Chair Jerome Powell speaks in Jackson Hole,

Wyoming. BBK Board member Claudia Buch participates in the Economic Policy

Symposium at some point on the Saturday. BOC Governor Stephen Poloz partakes in

the panel discussion at 1625GMT.

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