MNI Global Morning Briefing

     LONDON (MNI) - Wednesday throws up another quiet calendar day, with Spain

getting a fairly flat session underway at 0700GMT with their final HICP data for

August. The HICP y/y rate for July was 2.2%.

     Industrial production for Italy is next at 0800GMT. The previous y/y June

reading was 1.7%. The m/m reading was 0.5% but is expected to drop in July to

-0.1%.

     Next up is the Euro Area industrial production for the month of July is at

0900GMT. The prior m/m growth of -0.7% is expected to move in the right

direction but still be in the red zone with growth of 0.5% m/m anticipated for

July.

     Final demand PPI in the US is at 1230GMT and is expected to rise 0.2% in

August after a flat July reading. Energy prices are expected to rebound

following a 0.5% July decrease, while food prices are expected to tick higher

after a 0.1% decline. Excluding food and energy prices, PPI is forecast to rise

0.2% after a modest 0.1% July increase. In Canada at the same time is the

industrial capacity use rate for Q2. The previous rate was 86.1.

     At 1645GMT, Federal Reserve Board of Governor Lael Brainard speaks in

Detroit. This is followed up with the Federal Reserve releasing the Beige Book

for the upcoming FOMC meeting in Washington at 1800GMT.

     Up next is Japan at 2350GMT with the corporate goods price index and

machinery orders for August and July respectively. The previous m/m and y/y

growth rate was 0.5% and 3.1% respectively and is anticipated to move to 0.1% on

a m/m basis for August and remain unchanged on a y/y basis. Machinery orders for

July on a m/m basis is anticipated by an MNI median to be 5.5% after previously

declining by 8.8% in June.

     Up next and finishing the calendar is Australia with their inflation

expectations for September at 0100GMT and their labour force survey data for

August at 0130GMT. The previous inflation expectation trimmed mean was 4.0%. The

prior unemployment rate of 5.3% is expected to remain unchanged for August.

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