MNI Global Morning Briefing

     LONDON (MNI) - Tuesday's session gets off to an early start, but the

European calendar is largely second tier releases.

     The day gets underway at, with the release of the Nationwide House price

index for September. The prior y/y growth rate in August was 3.7%.

     At some point in the morning will be September car registrations data in

Germany. The August y/y growth rate was 23.2%.

     ECB Supervisory Board member Pentti Hakkarainen speaks in Helsinki,

starting a 0700GMT. September car registrations are also expected in France and

are due at 0645GMT. The prior y/y growth rate in August was a staggering 40%

     Up next at 0700GMT is Spanish unemployment for the September. In August,

the y/y unemployment rate declined by 5.92%.

     At 0730GMT is the UK September construction PMI. After a reading of 52.9 in

August, the MNI median points to a slight lowering in the score to 52.7, still

above the argued 52.5 change/no change mark.

     PPI data in the Euro Area for August is at 0900GMT. The prior y/y rate was

4.0%.

     At 1400GMT, the US have their domestic-made light vehicles sales data for

September. The SAAR for domestic-made vehicle sales is expected to rise modestly

in September after holding roughly steady in recent months. Seasonal adjustment

factors will be an addition to September unadjusted sales after subtracting from

them in August. This is also the only real piece of data coming from the US

today.

     Whilst the data is light in the US, three speeches appear to be making up

for this. At 1400GMT is the Federal Reserve Vice Chairman Randal Quarles speaks

to the Senate Banking Committee. Up at 1600GMT is the Federal Reserve Chair

Jerome Powell speaks in Boston. Concluding the speeches at 1800GMT is Dallas

Federal Reserve Bank President Rob Kaplan, speaking at a luncheon.

     Into the evening and at 2230GMT is the Australian AI Group services index.

     The penultimate data event is at 2301GMT with the BRC Monthly Shop Price

Index. On a like-for-like basis, retail sales were up 0.2% in August on a y/y

basis.

     Ending the calendar at 0130GMT is dwelling approvals in Australia for

September. The previous m/m growth rate was a disappointing 5.2% contraction.

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