World Headlines 2013-05-06

RQ Cross Box: 2013-05-06

UPDATED 7:15 ET - EQUITIES - European stocks retreated from the highest level in almost five years as euro-area services and manufacturing output shrank. U.S. index futures were little changed while Asian shares rose. FIXED INCOME - Bond investors are gaining confidence that Federal Reserve will unwind the central bank’s unprecedented $3.3 trillion balance sheet without sparking a crash similar to 1994, when Alan Greenspan surprised the market by doubling benchmark lending rates in 12 months. COMMODITIES - Crude Oil traded higher as air strikes in Syria renewed concern that unrest will spread in the Middle East and disrupt supply. CURRENCIES - Australia’s dollar fell after data showed retail sales unexpectedly contracted in March, adding to speculation a weakening economy will prompt the central bank to cut interest rates to a record low. ECONOMIC DATA - CAD Building Permits due at 8:30, ECB President Draghi Speaks at 9:00, CAD Ivey PMI at 10:00, Crop Progress at 16:00, AUD Trade Balance at 21:30 ET.

World Headlines 2013-05-06

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