MNI Global Morning Briefing

By Les Commons

     LONDON (MNI) - Wednesday's three key pieces of data come from Europe. At

0700GMT, the December EU ACEA car registrations are published, November Italy

industrial orders are due at 0900GMT and the December UK CPI data at 0930GMT.

     Car registrations in the EU declined by 8.0% y/y in November. This is

hardly surprising given the slowdown in global demand and industrial production

in the Euro Area member countries.

     Industrial orders in Italy fell by 0.3% m/m in October and will be closely

watched following weakness in November across the continent.

     UK CPI in November was 2.3%. However, as a result of a drop of fuel prices

of 4.4% in December, as well as tobacco duties coming a month earlier, the MNI

median points to a drop of two pp to 2.1% y/y in December. Should this hold

true, it would be the lowest rate in almost two years.

     At 1800GMT, BBK Board member Sabine Mauderer is speaking in Berlin.

     Concluding the speeches and the calendar at 2330GMT, Minneapolis Federal

Reserve Bank President Neel Kashkari participates in a debate on if the

financial system is safer ten years on from the global financial crisis in New

York.

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