US stock futures extended their move to the downside following hawkish remarks from FED Governor Michelle Bowman.
Key comments:
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app- Additional rate increases likely in the coming months
- Inflation is much too high
- Forceful action is needed
- Substantial risk that high inflation could persist
- Labor market consistent with maximum employment
- Reducing balance sheet to appropriate and manageable level important additional step in addressing high inflation
- It's 'more than time' for the Fed to begin normalizing
- Says she will be closely watching the data in the coming weeks
- Expects a series of rate increases, the timing of which will be determined by data.
- At upcoming meetings, we are likely to see several opportunities to raise rates.
- It is crucial that Congress passes a CBDC.
US30- continues to move lower after comments from FED Bowman. Index is heading towards major support at 33410 pts, which is marked with previous price reactions and lower limit of the 1:1 structure. Source: xStation5
