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U.S. Banking Sector Still On Focus
by Angelo Airaghi [Guest Analyst]
2/23/2009 10:49:00 PM


The new economic measures approved by the democratic administration are just getting into the system and the results will be seen only in the second part of the year. In the mean time, news of U.S. banks searching for additional capital in return for more equity shares is creating opposite reactions among investors, as the U.S. dollar is testing an important top against the European currency.



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Obama's economic decisions, still a long way before dawn


As the labor market is expected to deteriorate further in the first part of 2009 (continuation claim rose to a record number of 5 million), President Obama announced last week a series of measures to alleviate mortgage debits. The plan ranges from reductions in monthly payments to better refinancing possibilities. Over the medium term, it should limit the liquidation of foreclosure properties and create optimist among buyers and sellers. However, the short term prospective stays negative for the real estate market and the U.S. economy in general. In January, as an example, housing starts fell almost 17% (-11% expected) to a record low of 466,000 houses, while building permits are at a 50 year lows. The slump was broad-based among single (-12.2%) and multiples (-27.9%) components and it covered all the regions of the United States. During the last FOMC meeting, the Fed forecasted growth to sink this year and to pick up only in 2010.


Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media.

This article contains the following sections:


Obama's economic decisions, still a long way before dawn


Eastern Europe strongly hit by the economic slowdown


EUR/USD support holding, tentative rebound possible

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