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

Fundamental Headlines

•    NZDUSD – 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.

•    AUDUSD – Australian merchandise imports rose two percent in October in seasonally adjusted terms, as a stronger Australian dollar fueled demand for foreign goods.

•    USDJPY – 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.

•    GBPUSD – 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.

•    China Freezes Lending to Curb Investing Frenzy () - The Wall Street Journal

•    Japanese Stocks Drop After China Urges Banks to Curb Lending () - Bloomberg

•    European, Canadian Officials Criticize Yuan at G-20 (- Bloomberg

•    Northern Rock Won't Get Extended Aid as Bids Received () - Bloomberg

•    Bond Market to Fed: Recession Threat Means More Cuts () - Bloomberg

•    The Weak Dollar Isn't the Inflation Driver It Once Was () - The Wall Street Journal