Overall MarketData source: TradingViewIn last week’s report, our desk highlighted the significance of the red trendline, which has recently flipped to act as a key resistance level. We emphasized that reclaiming and sustaining price action above this trendline is critical to maintaining upward momentum. However, following the release of the core PCE price index last Friday, the market shifted decisively into a risk-off mode amid growing concerns over the Federal Reserve’s independence. The ongoing lawsuit involving Federal Reserve Governor Lisa Cook and US President Donald Trump has the potential to escalate to the Supreme Court, carrying profound implications for the Fed’s autonomy
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