[U][B]Fundamental Headlines[/B][/U]
• [B]USDJPY [/B]– Japanese housing starts tumbled 27 percent in November from a year ago. as tighter standards for obtaining building permits exert a drag on growth throughout the sector. Recently, Prime Minister Yasuo Fukuda said that he regretted the results of the building-code changes made in June, as builders complain that the new system was introduced too quickly, leaving them little time to adapt to the requirements. Do you follow the Yen daily? Visit the Japanese Yen Currency Room for resources dedicated to the Yen.
• [B]GBPUSD [/B]– UK housing equity withdrawals during the third quarter surprisingly rose 10.5 billion pounds, which helps to explain how consumption managed to remain resilient during that period, but this trend may not hold as UK housing indicators have recently reflected a stalling in the market during the fourth quarter. In fact, the British Bankers’ Association reported this morning that mortgage lending slumped to 4.3 billion pounds in November, down from 4.8 billion during the month prior. Nevertheless, the British Pound has started to gain strength. What do you think will happen to Cable? Join the discussion and voice your opinion on the DailyFX Forum.
• [I] Pace of Decline In US Home Prices Sets a Record[/I] (link) – The Wall Street Journal
• [I] Japan’s Housing Starts Slide 27%, Fifth Monthly Drop[/I] (link)– Bloomberg
• [I] UK November Mortgage Approvals Fall 44% on Year[/I] (link) – Bloomberg
• [I] Relief for UK Retailers After Late Sales Rush[/I] (link) – Financial Times
• [I] Europe’s Biodiesel Drive Sputters[/I] (link) – The Wall Street Journal
• [I]German Companies Plan to Expand Workforce, Investment in 2008[/I] (link) – Bloomberg
