MNI Global Morning Calendar

     LONDON (MNI) - After a miserably quiet Wednesday, Thursday picks up the

pace, starting in Germany at 0600GMT with the industrial orders data.

Manufacturing orders are expected to grow 1.1% m/m from a previous decline of

2.5%.

     Spain comes next an hour later at 0700GMT with Industrial Production. The

y/y growth was previously 1.9%.

     The Switzerland CPI data is next at 0715GMT. Previously, m/m and y/y growth

was 0.4% and 1.0% respectively.

     Germany's VDMA Machine Orders is at 0800GMT. The y/y growth previously was

12%.

     Before moving stateside, the ECB Governing Council member Jens Weidmann

speaks at the Austrian Federal Economic Chamber in Linz, Austria at 1115GMT.

     The level of initial jobless claims (1230GMT)is expected to fall by 4,000

to 223,000 in the June 30 week after rising by 9,000 to 227,000 in the previous

week, keeping the level in its tight range. The four-week moving average would

rise by 250 in the coming week as the 222,000 level in the June 2 week drops out

of the calculation, assuming the MNI forecast is correct and there are no

revisions.

     The ISM nonmanufacturing index (1400GMT)is expected to pull back slightly

to a reading of 58.0 in June from 58.6 in May. The Philadelphia nonmanufacturing

index fell to 39.1, while the flash Markit Services index fell to 56.5.

     Undoubtedly the most important release of the day and the one markets will

have their eyes firmly on is the FOMC minutes at 1800GMT from the June 12-13

meeting.

     At 2230GMT is the AI Group construction index. The previous reading was

54.0.

     Finishing the calendar is Japan at 2330GMT and 0000GMT with their household

spending and preliminary average wages respectively. Household spending is

anticipated by analysts to decline 1.8% y/y, continuing its poor showing after

previously declining 1.3% y/y. Total wages y/y previously grew 0.6%.

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