MNI Global Morning Briefing

     LONDON (MNI) - The calendar starts early again Wednesday, at 0645GMT, with

the release of September consumer sentiment data in France. The prior August

reading was 97.

     Next up, at 0830GMT is the UK Finance New Home loan approvals for August.

In July, the new home loan approvals dipped to 39,584 from 40,330 in June.

     A quiet morning means it's straight over to the US at 1100GMT with their

MBA Mortgage Applications data for September. In August, applications grew by

1.6%.

     President of the Federal Republic of Germany Frank-Walter Steinmeier is in

Frankfurt Weds, visiting the ECB.

     US New home sales are due at 1400GMT and are expected to hold steady at a

627,000 annual rate in August following declines in the previous two months.

Unadjusted sales were up 10.4% from a year earlier in July. Meanwhile, home

supply was up 2.0% month/month and 12.0% year/year, so the supply is rising and

should be more than adequate to meet demand.

     The moment markets were waiting for today is at 1800GMT with the Federal

Reserve's FOMC policy announcement. Markets are pricing in a 25bps hike in the

Bank Rate to 2.00%. This will be followed up with Federal Reserve chairman

Jerome Powell holding a news conference in Washington, DC.

     Moving to New Zealand at 2100GMT and markets will also be looking at the

RBNZ official cash rate decision. However, the MNI median points to the current

rate of 1.75% remaining at this level.

     Finishing the calendar at 2301GMT is the UK XpertHR pay deals for

September. In August, the median 3M y/y growth rate in earnings dropped to 2.3%

from July's 2.5%.

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