 Welcome back folks down in just shows right now down 25. Nazik is off 21 S&P's are off 5 and a half and you know Tommy and I have some fun with this whisper number folks, okay? And this is the first time this has actually happened, but it's pretty cool in the top 10, baby Yeah, if you're watching Target TV, you're gonna say we they just came over to us Congratulations earth eighth place in the Bloomberg in the league of top 10 for the United States Department of Energy US crude oil inventories so the estimate was a decline of 2.5 Yeah, and we had guessed an increase of 1 million Not bad. Yeah, we'll take that for sure. I know man. Yeah for sure Gotta love it. So let's go. I want to we have a guest coming up. We have our man. Teddy. We got all Okay, folks You're gonna love it man. We get over our man to Mr. Teddy Teddy cake stack You can find Teddy every trading day at 4x dash trading dash unlock calm And of course what ends up happening is that we have been Kind of in the same place for quite some time because we are waiting for a good old Brexit and Parliament to see what is going on and evidently something's going on because the S&P's and everything else is going or in the red Wild right now. Teddy cake stack. What's going on brother? Yeah, I tell you what we have a US dollar bull going on and we have two currencies I think the whole world is watching right now one being the pound of one being the New Zealand dollar Which one do you want to talk about first? I'm good for any of them, man. Shoot. Okay. Well, let me talk about the New Zealand dollar first That's more of a technical thing. Okay, the New Zealand dollar is making some major lows It's hitting some key support right now The dovishness of the New Zealand central bank just really slammed that currency really so It's a big move. It hasn't moved like this in a while So it's gonna be interesting to see how this is really gonna pan out There might be a bear trying to over the next week and a half It's still really hit it hard. It's quite a daily bar. Yeah, 69 to 67. Right. Wow Yeah, that's like the rug just got ripped out from underneath it when all the other currencies are relatively quiet today Okay, okay, and then of course, you know, I guess the the whole world We're definitely still waiting for you know, what's gonna go on with Brexit here There's no doubt and you know if we look at the dollar. Yeah, the the bowling bears a they're still just fighting it out, right? Absolutely, absolutely But I think that right now if you look at the pound it's kind of a new right now It's very neutral on the days trade, but if you look at the level It's a very key pivot level with a lot of tops. Okay, so I think that this right now It's at a gravitation point and now you were hanging on this boat We know that it's finally coming, you know, the chokehold is there for all the politicians So they come and make a decision now or never, right? Yeah, that's absolutely It's now or never so and I think that the market no matter what is Bullish the pound. Okay, so it's once they come up with a result I would say odds are if there's a break at first. It's gonna be a knee jerk By it's gonna be a dip to buy. I would yeah, right. There's not an accelerated rally into new highs Which I think that's probably what will happen. Um, so there's definitely a volatility playing. It's not gonna hang in this area That's for sure. Yeah, you buy the reaction. So what do you think's going on with the euro? You know, I mean we getting close to the lower into this consolidation that has been in for you know So it's going all the way back to what November, right? Right and it's actually been a rather weak, you know, like on the you look at it over the past couple months It's really just a sideways trade. Yes You get it really over to past few weeks and what have you is more leaning towards a bearish move leaning on support Now it's coming into this area where when there's bad news Okay, let's say let's say the market was getting correct right now, especially over in Europe And there's all kinds of bad news, you know that they were trying to bury the euro What happens when that happens? They can't get it below 112 111 half and that's when there's tons of bad news You know, so there's really no nothing coming out. That's really harsh like that So I think it's more the dovishness that's now settling all around the world, you know Because if you remember when we were talking before Christmas, we had the euro zone You know, they dropped all the quantitative easing stuff that they weren't doing and what have you and they were looking towards raising rates Which made the euro strong relatively, you know against the dollar through the holidays and into the new year Okay, now you don't have them talking about really going towards raising rates But they're not they're not being dovish either, you know, but that that talk of That which would be the carry trade, you know So the carry trade I think is completely off the table pretty much in all the currencies because we've had central banks for the past six Months including our own that we're looking towards raising rates and spiking things up now all of a sudden We started to go dovish. We know that Tentatively there may be one rate hike in September But otherwise it seems to be off the table with a very transparent Fed in my lifetime and trading career I don't think I've ever seen a Fed that's actually Done what they said and said what they did and in such a short amount of time and it's you're like, whoa This is not like we don't have to second-guess them right now It seems like they're just telling us exactly what their plan is and if that's the case The other banks are following that right now And that's right. We have slowly grinding bull for the US dollar against all the majors, you know Take New Zealand aside That's just because of what their central bank did and they think that's a confirmation for what I'm talking about here Is that now they followed suit so you have the whole global trade zones of central banks? Basically looking at they always look to the Fed for what we do, but now it's like they're actually following what the Fed does Yeah, no, I agree man. I mean this is one of the biggest turns I've ever seen that so quick I mean, you know all of us go back six months and it's like okay, you know the 10 years six months ago Is that 3.1 3.2? You're 2.3 for this morning. It's like okay like You know 30 years of going down everything's going down and simultaneously Everyone's going on across the world It doesn't look like they're gonna be going up anytime soon. Sure, you know Yeah, a lot of a lot of moving pieces man, and I guess the real question is gonna be one thing to change things If like for instance, they keep talking about the global slowdown Yes, you know in Asia and in Europe now You are the economy no matter even though they keep trying to say things are slowing down and all of a sudden the numbers come out And they're like it's contrary to what the consensus seems to be pushing towards But then it's so we all you guys have been in the markets long enough to know that when the markets going up They're always predicting the sky is gonna fall when the sky is falling then they're like oh, it's about to turn around, right? Yeah, no doubt so I think a lot of that is going on right now But because the markets are not reacting is confusing things and that's causing this like drifting You know just kind of neutral trade especially with the currencies and even the interest rates because now if this all this Dubbishness stuff that's going on What's gonna happen to rates? They're gonna be in a range. Oh Yeah, and listen that might take this this tenure wants to go to 2.0 or 2.1 And it's like okay, man, you know, it's like what is that all about? Well, it just might be about Low rates and a longer period of time across the world We start getting earnings in a few weeks, right? That'll really we'll see what happens in terms of the guy lower again Do they do they deliver on you know their expectations that could drive some of the fears for sure they cost the money is down That's for sure. Yes, I mean market is always correct, right gentlemen. Yeah, you can't fight it. No ABC they say the market gets it wrong But I know that the market never gets it wrong because it's the market right exactly you have to do is look at The bond market they got it right so much earlier than everyone. It's like oh my god, okay? I mean they've been buying bonds since November. Okay, so it's like why well, guess what because rates are going down You know and look at gold too, right Tom. Yeah, no no no It's the same thing and we know the cycle of things is first the bonds move then gold moves then equity Right. I'd love it. Listen folks every trading day can reach Teddy at 4x dash trading dash unlock dot com Check it out folks. Teddy. It's always a pleasure, man. You have a great week safe week. We look forward to speaking the next Wednesday Thanks guys. Thanks so much. Thanks. I like one stay right there folks Tommy I coming right back to get some selling in the market. We get the doubt on 63 Nasdaq is off 37 as a piece are off 10. We're coming right back