Forex News: Asian Stock Markets Continue To Tumble, Yen Rallies To 18-Month High Agai


[B][U]Fundamental Headlines[/U][/B]
• [B]AUDUSD[/B] – The Reserve Bank of Australia raised its inflation forecast for Q4 to 3.25 percent and said the economy’s expansion shows “considerable momentum,” suggesting that the central bank will increase interest rates again.
• [B]NZDUSD[/B] – New Zealand house price growth, as measured by Quotable Value New Zealand Ltd., slowed for a second month in October to 12.7 percent, adding to signs higher interest rates are curbing expansion.
• [B]USDJPY[/B] – Japanese releases, including Domestic CGPI and the trade surplus, were stronger than expected, suggesting that exporters are faring well and the economy may emerge from deflation. However, consumer confidence hit a three-year low, which may indicate that any growth in Japan may be fueled by businesses alone.
• [B]GBPUSD[/B] – UK PPI input and output costs were stronger-than-expected on the back of gains in petroleum product and food costs, raising the prospects that Tuesday’s CPI report will also beat estimates.
• [I]Asian Stocks Decline as Subprime Losses Widen, Yen Strengthens[/I] (link) - Bloomberg
• [I]Australia’s Central Bank Raises Inflation Forecasts[/I] (link) - Bloomberg
• [I]N.Z. House-Price Inflation Slows for Second Month[/I] (link) - Bloomberg
• [I]U.K. October Producer Prices Rise More Than Forecast[/I] (link) - Bloomberg
• [I]Investors Fear Growth Will Fail To Revive Stocks[/I] (link) - The Wall Street Journal
• [I]The U.S.'s Three Biggest Banks Have Agreed on the Structure of a SIV Superfund[/I] (link) - The Wall Street Journal