MNI Global Morning Calendar

     LONDON (MNI) - Tuesday is a rather subdued day on the calendar, with little

data on offer during the European session.

     The day starts at 0700GMT, when Spain's labour costs for Q2 is released. On

a y/y wda basis, the prior labour costs grew by 0.7%.

     ECB President Mario Draghi speaks in Paris at 0715GMT and is followed by

ECB Supervisory Board Chair Daniele Nouy at 0730GMT.

     Next up, at 0800GMT is industrial orders from Italy for July. The m/m and

y/y growth rates for June were 3.6% and 4.9% respectively.

     Moving to the afternoon and at 1230GMT is the monthly survey of

manufacturing in Canada for July. In June, manufacturing sales grew by 1.1% and

for July are expected to grow by 0.6%.

     The only two pieces of data from the US is the Redbook Retail Sales index

at 1255GMT and the NAHB Home Builder Confidence at 1400GMT. Both are for

September. In August, the Redbook retail sales index grew by 0.8% whereas the

NAHB Home Builder Confidence index had a reading of 67.

     BBK Board member Claudia M. Buch is speaking at 1700GMT in Frankfurt,

Germany.

     Into the evening and at 2245GMT is New Zealand's trade balance data for Q2.

In Q1, the current account accounted for -2.8% of New Zealand's GDP and this is

expected to worsen in Q2 to -2.9%.

     It's Japan's turn at 2350GMT. With the previous trade balance of zero in

July, August is anticipated to show a trade deficit of JPY 531bn.

     At 0100GMT RBA Assistant Governor Christopher Kent speaks in Sydney. The

last of the speeches and the calendar is at 0300GMT when the BOJ release the

outcome of their two-day policy board meeting in monetary policy statement.

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