Forex News: Asian Equities Falter Yet Again As China Orders A Freeze On Bank Lending

[U][B]Fundamental Headlines[/B][/U]

• [B]NZDUSD[/B] – The New Zealand Performance of Services Index for the month of October eased back slightly to 58.4 from 59.0, suggesting that the services sector continues to expand, albeit at a slower pace.
• [B]AUDUSD [/B]– Australian merchandise imports rose two percent in October in seasonally adjusted terms, as a stronger Australian dollar fueled demand for foreign goods.
• [B]USDJPY [/B]– Sales at Japanese department stores fell 1.4 percent to 626.0 billion yen in October from a year earlier as consumption growth remains weak.
• [B]GBPUSD [/B]– Rightmove house prices fell 0.7 percent during the month of October while the annual rate of growth slowed to a 17-month low of 7.9 percent. This dour data comes just a few days after Nationwide Building Society forecasted a stagnation in house prices in 2008 for the first time in more than a decade.

• [I]China Freezes Lending to Curb Investing Frenzy[/I] (link) - The Wall Street Journal
• [I]Japanese Stocks Drop After China Urges Banks to Curb Lending /I - Bloomberg
• [I]European, Canadian Officials Criticize Yuan at G-20[/I] (link)- Bloomberg
• [I]Northern Rock Won’t Get Extended Aid as Bids Received /I - Bloomberg
• [I]Bond Market to Fed: Recession Threat Means More Cuts /I - Bloomberg
• [I]The Weak Dollar Isn’t the Inflation Driver It Once Was[/I] (link) - The Wall Street Journal