The week ending December 20, 2024, wasn’t just another week—it was a showcase of market chaos, dovish surprises, hawkish flexes, and, for us, a cool 331 pips in the bank. Let’s unpack the drama and see what it all means for next week. 🚀
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What Happened Last Week
The Dollar: King of the Hill (Again) 👑
The Fed walked into this week’s meeting with a hawkish swagger, and the markets took notice. The dollar didn’t just gain—it exploded, breaking past its post-2022 range like it had something to prove. 💥 While the BoJ and BoE were busy playing the dove game 🕊️, the dollar stood tall, supported by the same two things it’s been riding all year: a robust US economy and higher-for-longer rates.
Result? The DXY hit 108.50, and honestly, this greenback isn’t looking like it’s slowing down anytime soon. 🏃♂️💨
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The Yen: Somebody Check Its Pulse 💀
What’s worse than a bad central bank decision? A dovish BoJ. USDJPY screamed up to 158.00, making the yen look about as stable as a house of cards in a wind tunnel. 💨 Sure, it eased back to 157.00, but let’s be honest: 160.00 is basically waving at us from the horizon. 👋
Here’s the kicker—US Treasury yields are still climbing 📈, and unless the BoJ suddenly grows a backbone 🦴, yen bulls are going to be in for a rough holiday season. 🎄
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Sterling: A Pound of Pain 💸
Over at the Bank of England, the market expected calm, and instead, we got a 6-3 dovish vote split. Sterling? It wasn’t thrilled. 😬 GBPUSD dropped below 1.25 for the first time in a month, and while it hasn’t tested 1.2300 yet, it’s probably just saving that for 2025.
Add in a disappointing retail sales report, and you’ve got a recipe for a pound that’s feeling a little, well… heavy. ⚖️
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Scandinavia: Drama with a Side of Rates ❄️
The NOK? Weak, after the Norges Bank hinted at rate cuts in March. The SEK? Strong 💪, thanks to a hawkish Riksbank move that included a rate cut but bumped inflation forecasts. Divergent moves, but both currencies kept things interesting for traders who like a little spice with their Scandinavia. 🌶️
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Our Week: 331 Pips and a Smooth Ride 🥳
While the central banks bickered, we stayed focused. A mix of sharp dollar plays and a perfectly timed yen move helped us lock in 331 pips this week. No guessing, no stress—just execution. That’s how we roll in the Road to a Million Club. 💯
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What to Expect Next Week
Dollar: Still Running the Show 🏆
The dollar’s higher-for-longer narrative isn’t going anywhere. With the Fed holding strong 💪 and the US economy outperforming 🌟, the greenback looks ready to carry this momentum into the new year. The DXY at 108.50 is just the beginning, folks.
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Yen: All Eyes on 160 👀
Will USDJPY hit 160.00? It’s looking more and more likely. Rising Treasury yields 📈 and a weak yen make this one to watch. BoJ bulls, you might want to sit this one out. 🫠
Sterling: More Downside Ahead? 📉
With markets pricing in a 75% chance of a February rate cut, sterling’s got a tough road ahead. While it might stabilize for now, the risks are all tilted to the downside. If GBPUSD breaks 1.2300, it could be another rough chapter for the pound. 📖
CAD: Loonie Liquidity Drama 🪶
The loonie is hovering near 1.44, but Canadian politics could heat up 🔥. Rumors of a Trudeau government collapse could spark some chaos, especially in thin holiday trading conditions. If you’re watching USDCAD, keep your popcorn ready. 🍿
CTA: Join the Free Road to a Million Club
We’re wrapping up this week with 331 pips, and we’re just getting started. If you’re tired of guessing and want expert trades delivered to you, join the Road to a Million Club—it’s 100% FREE. 🎯
Click the link in the description, join the community, and let’s crush 2025 together. 🚀
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And remember, folks: Trade smart, enjoy the holidays, and keep your eyes on the markets—because they never really sleep. 🕰️ See you next week!
This post is originally published on ROADTOMILLION.
