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FC: EUROPEAN MIDDAY/US MORNING REPORT: TUESDAY – 22ND – AUGUST – 2017 at 12:10PM

* European cash equity markets are mostly higher this morning and on course to snap a three-day losing streak (FTSE +0.6%, DAX +0.7%, CAC +0.5%).
* Mining stocks have outperformed on strong corporate earning reports from heavyweights BHP and Antofagasta.
* Core EU bonds opened to the downside but have found some support ahead of the US open with UK and German 10-year benchmarks almost back to flat. Treasuries also nursing minor declines.
* Dollar one of the strongest G10 currencies this morning while Sterling plays the laggard. Oil prices little changed while gold post minor losses.
* Swiss Trade Balance (Jul) Chf3.51 Bln versus Chf2.88 Bln expected, previous Chf2.76 Bln
* Spanish Trade Balance (Jul) -€1.30 Bln versus -€2.10 Bln expected, previous -€1.40 Bln
* UK Borrowing Data (Jul):
Public Sector Net Borrowing -£0.76 Bln versus -£0.20 Bln expected, previous -£6.28 Bln revised to -£5.67 Bln

Ex Banks -£0.18 Bln versus £0.95 Bln expected, previous £6.85 Bln revised to £6.25 Bln

* German ZEW Survey (Aug):
Current Conditions 86.7 versus 85.5 expected, previous 86.4

Expectations 10.0 versus 15.0 expected, previous 17.5

* Euro Zone ZEW Survey – Expectations (Aug) 29.3 versus 34.2 expected, previous 35.6
* UK CBI Trends – Total Orders (Aug) 130 versus 9.0 expected, previous 10.0
* Looking ahead, futures are pointing to a mildly higher open for US cash equity markets while we await US house price data and Canadian retail sales. ECB Vice President Constancio also speaks at 13:00 BST.