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MNI US Morning Briefing

     LONDON (MNI) - At 0800ET, the UK's NIESR monthly GDP estimate will be
     Across the Atlantic, the US jobless claims data will be released, along
with the July PPI data, at 0830ET.
     The level of initial jobless claims is expected to remain flat at 240,000
in the August 5 week after a 5,000 decrease in the previous week. The four-week
moving average, which fell by 2,500 in the July 29 week, would decline by 2,000
in the coming week as the 248,000 level in the July 8 week drops out of the
calculation, assuming the MNI forecast is correct and there are no revisions.
     Final demand PPI is expected to rise 0.2% in July after a small 0.1% rise
in June. Food prices are expected to slow after a 0.6% gain in June, but energy
prices are forecast to rebound after a 0.5% decline in the previous month on a
return to more seasonable temperatures. Likewise, PPI excluding food and energy
is forecast to rise 0.2% after a modest 0.1% gain in June.
     At the same time, the Canadian new housing price index will be published.
     New York Federal Reserve Bank President William Dudley will deliver the
opening remarks at the Economic Press Briefing on Wage Inequality in the Region
in NYC, with audience Q&A, starting at 1400ET.
     The US Natural Gas Stocks data will be published at 1030ET.
     Late US data will see the publication of the Treasury Budget at 1400ET and
the Fed's Weekly M2 Money Supply Data at 1630ET.
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |