The first release of the day will be UK industrial production. The consensus expects it to decline 0.2% in August, a drop from the previous month's 0.4% decline. In year-over-year figures, it is forecast to decline 2.0%, deepening the prior month's 1.9% loss.

Meanwhile, UK manufacturing production in August is forecast to remain unchanged from the prior 0.2% drop. Annualized manufacturing production is expected to fall 1.6% following a 1.4% decline in July.

German factory orders will be the most important data release on Tuesday. Orders' levels are expected to rebound 0.5% month-over-month in August following July's 1.7% decline. In non-seasonally adjusted terms, factory orders are forecast to have fallen 4.7% in the twelve months to August, down significantly from July's 0.7% contraction.

Shortly prior to the data release, the ECB's Vítor Manuel Ribeiro Constâncio is expected to speak at a conference about the current situation in financial markets.

However, markets will be especially interested hear what ECB President Jean-Claude Trichet has to say about the current global crisis. He is scheduled to deliver a keynote speech at the World Policy Conference organized by Ifri (French Institute of International Relations) in Evian, France.

4:30 GB Industrial Production (M/M) August Exp: -0.2% Prior: -0.4%

4:30 GB Industrial Production (Y/Y) August Exp: -2.0% Prior: -1.9%

4:30 GB Manufacturing Production (M/M) August Exp: -0.2% Prior: -0.2%

4:30 GB Manufacturing Production (Y/Y) August Exp: -1.6% Prior: -1.4%

4:30 EU ECB's Constancio Speaks at Conference on Financial Situation

6:00 DE Factory Orders (M/M) (SA) August Exp: +0.5% Prior: -1.7%

6:00 DE Factory Orders (Y/Y) (NSA) August Exp: -4.7% Prior: -0.7%

9:30 EU ECB's Trichet Speaks in Evian, France

19:01 GB Nationwide Consumer Confidence September Exp: +49 Prior: +52

19:01 GB NIESR GDP Estimate September Prior: -0.2%

By Steve Stecyk, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Nancy Girgis, This email address is being protected from spam bots, you need Javascript enabled to view it

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