MORNING BID EUROPE-Migrant vote for Orban; UK manufacturing eyed

* A look at the day ahead from European Economics and Politics Editor Mark John and EMEA markets editor Mike Dolan. The views expressed are their own.

LONDON, Nov 8 (Reuters) - The Hungarian parliament is due to vote today on whether to ban resettlement of migrants according to the European Union plan after last month's referendum. Things are unusually tricky for PM Viktor Orban who is still two votes short of the two-thirds supermajority he needs for the amendment to pass. He needs support from the far-right Jobbik, who said it would only back an amendment if Fidesz goes even further and tightens other residency rules. If the bill is passed, Orban will use the law as a political weapon in Brussels; if he loses, it will be an unaccustomed domestic embarrassment for him.

Economic data out today so far focus on Britain and Germany. British consumers ramped up their spending last month but some of the increase was due to higher motor fuel prices, a survey showed earlier. At the same time, British companies hired permanent staff at the fastest pace in eight months in October as the country's labour market keeps on growing despite concerns about investment after the Brexit vote. A new read-out on manufacturing output at 0930 GMT will see whether the picture there remains as weak as it was in September. German industrial production fell more than expected in September, posting its steepest monthly drop in more than two years, data from the Economy Ministry showed, suggesting Europe's biggest economy ended the third quarter on a weak footing. Industrial output fell by 1.8 percent on the month, the biggest monthly drop since August 2014 and weaker than the consensus forecast for a fall of 0.5 percent. Quite a large dent in what has so far been a moderately positive picture of a recovering euro zone economy.

MARKETS AT 0755 GMT

World stock markets staged their biggest one-day rally in more than four months on Monday as last-minute betting odds and probabilities point toward a win for Democrat Hillary Clinton in today's U.S. election. All five opinion polls on Monday put her ahead of Republican Donald Trump and prediction markets now have about a 75 percent chance of a Clinton win, with a Republican House of Representatives but a narrow win for the Democrats in the Senate the best guesses. We've been here before of course, with markets also confident the June Brexit referendum would tilt to status quo right up until the last minute only to be bamboozled by the actual result. But the electoral maths surrounding the U.S. election are more complex than the binary UK vote and the way the Electoral College votes are cast means Clinton has a distinct advantage. Markets have sustained much of Monday's surge so far on Tuesday as they await the results vigil in the early hours of Wednesday morning, with key barometers such as Mexico's peso keeping all its bounce back to mid-October levels. After a jump of more than 2 percent in the S&P500 last night, the ViX volatility gauge is back below 20 percent. The dollar index has given up a little of Monday's gains and gold recovered a touch of its losses. Treasury yields are down slightly. Asia bourses were steady to firmer, with Europe expected to open little changed. Sterling steadied just above $1.24, with euro/dollar also firmer above $1.10. Brent crude has recaptured and held $46. Elsewhere, the Turkish lira is falling to fresh record lows amid concern about the detentions of pro-Kurdish opposition politicians and deteriorating relations with the European Union, which is due to issue a damning progress report on Wednesday.

Upcoming events/data/ themes for market reports on Tuesday:

- Europe corp events: Adecco (Swiss: ADEN.VX - news) , Credit Agricole (Swiss: ACA.SW - news) , Henkel (LSE: 0IZ8.L - news) , Deutsche Post (LSE: 0H3Q.L - news) , Associated British Foods (LSE: ABF.L - news) , Dong Energy (Copenhagen: DENERG.CO - news) , Marks & Spencer, Mediaset (LSE: 0NE1.L - news) , Moncler, ArcelorMittal (Other OTC: ARCXF - news) , Campari (Milan: CPR.MI - news) , Shell (LSE: RDSB.L - news) Investor Day

- Swiss Oct jobless

- German Sept industrial output, trade

- France Sept trade, budget balance

- UK Sept industrial/manufacturing gains, DMO auctions 20-year gilts

- Turkey Sept industrial production

- US Presidential/congressional elections

- US Q3 earnings: TripAdvisor (NasdaqGS: TRIP - news) , DR Horton (NYSE: DHI - news) , CVS

- Chicago Fed chief Evans speaks in speaks in NYC

- US Treasury auctions 3-yr notes (Editing by Sonya Hepinstall)