A1 TRADING | Indices, Commodities, Forex, Futures

GBP/USD Rejects Key Resistance as BoE Cut Expectations Dominate GBP/USD pushed higher early morning and tagged 1.34550 resistance, reacting immediately on first touch. That level is now the near-term pivot — bulls need a clean break and hold above it to extend the move, while rejection keeps the pair vulnerable to a pullback. The UK backdrop remains mixed, but the direction of travel is clear: labor is weakening. Unemployment is at its highest since early 2021, while PMIs improved to 52.1 but still imply sluggish growth, not a true rebound. Short-dated gilt yields ticked up, but it looks more like marginal repricing than a meaningful shift in BoE expectations. Markets continue to price roughly 60bps of cuts by end-2026 and about a 90% chance of a cut this week. Sterling caught a modest bid, but the broader narrative stays dovish — cooling demand, rising job-loss risk, and a BoE leaning toward easing. Next catalyst is UK CPI. The medium-term risk remains tilted toward more easing ahead, not less. - Alan

Rate Cuts Odds Stay Alive U.S. equity futures turned higher as markets digested the delayed jobs report and what it means for the Fed’s next move. The Nasdaq specifically found support at the 25,000 handle. November NFP came in at 64K, slightly above expectations, but the details told a softer story. The unemployment rate rose to 4.6%, above forecasts, while wage growth cooled to 3.5% YoY. On top of that, retail sales were flat, missing estimates and pointing to slowing consumer momentum. Net takeaway: headline jobs were better than feared, but the broader data leaned cooling, keeping rate-cut expectations alive and supporting risk sentiment. US rate futures still see two cuts in 2026 after jobs data, retail sales data; pricing 58 bps of easing next year. - Alan

Live stream started

📌Master Fundamental Trading — Free Course Most traders rely solely on technical analysis, but fundamentals tell the real story behind market moves. 📊 Our FREE Fundamental Trading Course breaks down everything you need to know—from key economic indicators to trading the news like a pro. 🔥What’s Inside? ✅ Understanding monetary policy & central banks ✅ Trading inflation, interest rates, & GDP news ✅ Identifying smart money vs. retail sentiment ✅ Using the COT Report & seasonality trends ✅ Strategies for trading gold, oil, & major market events 🔗Start learning today

🎄DNA Funded Xmas Promo🎄 Get 30% OFF all $5K, $10K & $25K accounts Use code XMAS30 — ends Dec 25

Live stream finished (3 hours)

GOLD Daily Chart: I'm still watching for this move, and trailing stops cautiously behind each higher low. Price seems to be moving towards all time highs, but will the bulls be able to break records again? Floating ~$5k on this trade, stops trailed into profit, behind resistance. - Nick

USD/JPY Slides as BoJ Rate Hike Expectations Pressure Carry Trades USD/JPY continues its downside momentum, dropping roughly 110 pips on the day as sellers stay in control. Price action reflects a clear shift in momentum as rate differentials begin to compress. The yen extended gains after BoJ surveys showed Japanese firms expect wage growth to remain strong into fiscal 2026, reinforcing the case for policy normalization. Sentiment data added fuel to the move, with large manufacturers’ confidence hitting a four-year high. A rate hike this Friday is largely priced in, giving JPY an advantage over a dollar facing expectations for earlier Fed cuts next year. That shift is weighing on yen-funded carry trades, as narrowing rate spreads reduce the appeal of borrowing cheap yen to chase higher-yielding USD assets. Whether yen strength extends into year-end will depend on BoJ guidance post-hike and broader risk conditions — especially any downside in U.S. tech that could accelerate carry trade unwinds. - Alan

USD/CAD Slides to September Lows as Yields Ease USD/CAD traded lower this morning, marking its lowest level since September. Downside momentum has picked up as the pair tracks softer U.S. yields, with sellers pressing into levels not seen in months. Canadian CPI YoY cooled to 2.2%, slightly below the 2.3% forecast, reinforcing the view that inflation remains contained. At the same time, Canadian 10-year yields slipped to 3.41%, moving in lockstep with the broader pullback in U.S. yields. The data backdrop remains mixed but constructive. Factory sales fell 1.0%, largely in line with expectations, while housing starts surprised to the upside at 254K, signaling underlying resilience in domestic demand. With yields easing and inflation stable, the loonie found support, even as crude prices drifted lower — a reminder that rates and macro are currently driving CAD more than oil. - Alan

Live stream started