MNI US European Morning Briefing

     LONDON (MNI) - Tuesday throws up a busy calendar on both sides of the

Atlantic, with the services PMI data set to dominate.

     Across the Atlantic, the US calendar gets underway at 0830ET, with the

release of the November trade data.

     The international trade gap is expected to widen to $46.7 billion in

October from $43.5 billion in September. The advance estimate of the Census

goods trade gap widened sharply to $68.3 billion, with exports down 1.0% and

imports up 1.5%.

     The Canadian trade data will be released at the same time.

     At 0855ET, the US Redbook Retail Sales Index will cross the wires.

     The November final Markit Services Index will be released at 0945ET, with

the ISM Non-Manufacturing Index due at 1000ET.

     The ISM nonmanufacturing index is expected to pull back to a reading of

59.0 in November after another increase to 60.1 in October. The Philadelphia

nonmanufacturing index fell sharply to 19.3, while the flash Markit Services

index ticked down to 54.7.

     Also due at 1000ET is the IBD/TIPP Optimism Index and the QCEW data.

     The U.S. Senate Committee on Banking, Housing, and Urban Affairs will

consider the nomination of Jerome Powell to be Chairman of the Board of

Governors of the Federal Reserve System in Washington, starting at 1000ET.

     Bundesbank Board member Joachim Wuermeling speaks at the 23rd Handelsblatt

meeting "Banking technology", in Frankfurt, starting at 1020ET.

     At 1130ET, the ECB Gov. Council member Jens Weidmann will give the welcome

remarks on the occasion of SAFE/CFS/Deutsche Bundesbank lecture, in Frankfurt.

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