CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

BREAKING: Wall Street pulls back following Powell comments

16:08 22 October 2021

US dollar strengthened, while both Dow Jones and the S&P 500 retreated from record levels following Fed Powell comments during a Panel Discussion at the Virtual Bank for International Settlements-South African Reserve Bank Centenary Conference. Powell acknowledged inflation is well above the target and Fed is on track to begin tapering but it is premature to raise rates. Powell also mentioned that supply bottlenecks are still weighing and have gotten worse in some cases recently. At the same time, high inflation and pressure on wages will likely last into next year but will abate.

The Fed chairman largely stuck to his views that inflation was of a temporary nature, but between the lines he showed that he is taking onto consideration that inflation pressure may be higher than expected. Powell said the FED must be ready for anything. The confidence that the Fed Chair presented at the symposium in Jackson Hole was no longer apparent in today's speech.

US30 pulled back sharply from fresh all-time high at 35645 pts following Powell comments and is currently testing 50 SMA (green line). However if current sentiment prevails, then downward move may be extended to the local support  at 35155 pts, which coincides with 78.6% Fibonacci retracement of the last downward correction. Source: xStation5

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