MNI Global Morning Briefing

     LONDON (MNI) - With no activity in terms of either data or speeches in

Europe means the three data events worth noting are later on in the day. These

are the Q4 Canadian labour productivity data at 1330GMT, the U.S. January trade

balance also at 1330GMT and the Bank of Canada's interest rate decision at

1500GMT.

     Labour productivity for Q3 in Canada was 0.3%.

     The international trade gap is expected to widen sharply to $57.0 billion

in December from $49.3 billion in November. The GDP data already showed that net

exports were a larger subtraction from fourth quarter growth than the previous

quarter. The advance trade report released on February 27 indicated that the

census trade gap widened sharply to $79.5 billion from $70.5 billion in the

previous month.

     The MNI median suggests that the interest rate in Canada will remain

unchanged at 1.75%.

     Three Federal Reserve events are at 1700GMT, 1715GMT and 1900GMT. Cleveland

Federal Reserve Bank President Loretta Mester is up first, speaking in Colombus,

Ohio. Next is New York Federal Reserve Bank President John Williams speaking at

the Economic Club of New York. Finishing the Wednesday events is the Federal

Reserve releasing the Beige Book for the upcoming FOMC meeting in Washington.

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