 Folks, Dow, Dow down 70 Nasdaqs of 20 S&Ps of three and a half. Let's go over to our MMS, the Teddy Cake Snack. And as we do each and every Wednesday at 40 past the hour, you can reach Teddy every trading day, folks, at 4X-trading-unlocked.com. That's 4X-trading-unlocked.com. You want to understand currencies. You want to understand cross-rates. You want to get a great education. That's right. We love it. Each and every Wednesday, each and every day, he's out there for us. Teddy Cake Snack, what's going on, brother? Morning. Thanks for that intro, guys. Hey, man. Hey, man. I told Tommy in the middle of the week last week. You're going to get him studying, man. You got me going, man. And I love it. Those cross-rates. Because you know what happens. We got a lot to talk about today, then, for you. I'm ready. Let's go, man. Where are we going? OK, well, first we have the central bank marathon that I think everyone needs to be aware of. This week, the whole week, especially tomorrow, very big ECB meeting. Then we have all the other central banks, basically, for the next two weeks that are coming out with either speeches or meetings. And we definitely have some potential interest rate cuts on the table. So today, the Euro was definitely impacted by the manufacturing numbers. Germany had its worst manufacturing numbers in seven years come out today. That's a big deal. That's a big deal. Yeah, interesting. Huge deal, exactly, especially with tomorrow's ECB meeting. Now, that Euro is pressing that bottom there, right? I mean, it breaks that bottom is really going to be in trouble, right? Absolutely, absolutely. And all that's going to come into play now, because today we had Boris Johnson. He's now the new prime minister of the UK. So today with that, now we have these numbers that are right in front of him. As he's taking control of the leadership, they have a group from the EU that's coming to the UK to talk for a week with him about the Brexit deal, OK? Can you imagine being in that room? Yeah, exactly, exactly. A lot of nothing, absolutely. So but with the ECB meeting tomorrow and these manufacturing levels, I think that quantitative easing was something that we thought was going to happen in this meeting actually coming up tomorrow. Now they may actually cut a quarter point. So there's a good chance of seeing some kind of shake up with that central bank and then other central banks to follow over the next week and a half. Because Germany was really strong with these words last meeting. And then if they're getting bad data since then, right? I mean, that is pretty substantial. And Germany's the powerhouse over there anyway, right? So if Germany's coming down, that's trouble and paradise flat out, right? And they're the biggest exporter out of the EU. And so since they're export driven, seven year low for production, that's not a good sign. Not the booming market everywhere else. Pretty wild, man, absolutely. What do you think that, when I was watching that Euro yesterday, I guess it has to do with manufacturing, I was surprised that the Euro was getting slammed more than the pound yesterday. I guess the market already knew that Johnson was going to be the dude, do you know what I mean? But it was really intriguing. Every time I keep looking at that, I keep saying to myself, it might not be that bad if the UK just decides that, hey, we're going, man, and you're going to make a deal with us. Well, pretty interesting you mentioned that because you're right, the Euro broke a little bit off the number this morning, came back, it's been down for a couple sessions, but there's not much of a move going on. The pound, however, has set a short term bottom. Today, they're up on Boris's inauguration or whatever you call it over there. So that's positive. So the pound factor in the dollar index looks like it might be stabilizing, whereas the Euro looks like it's going to lay on support a little bit. So it's a little bit choppy with that. But since you brought up those two currencies, if you look at the Euro pound cross rate, that market took a nosedive today. Interesting. So the pound versus the dollar is gaining strength. And probably, I think, over the next week or so, because it needs a correction anyhow, for it to rally, it's been going down so hard for the past few months that it's set for a little bit of a pop, nothing big, but just a little bit of a profit-taking move. That's quite a chart. That is, I just put the Euro pound cross rate up, yeah. And that's been going up for quite some time. So last week and a half, you have it going south. Now, OK, so explain to us right now. So what exactly does that mean? We get the Euro? So right now, it's at $0.89. So it's gone all the way from what? $0.85 cents since about April. So has that been a strengthening Euro versus the pound, Teddy? Correct. Correct, yes. I see, OK. The only reason I really guessed that quickly, the pound has been in trouble over the last month and a half with everything that's been going there. So they should be weakening as it's been falling apart. Theresa May has been out. That would make sense. Still quite a move, man, definitely. I get it now. And now, that might be showing the actual turn because the pound dollar has started to show kind of a bottoming thing. But this market, all of a sudden, it's blasting down, breaking through support. That is cool. That's, I get it. Those relationships, man. Pound strength. Pound strength. Yes, yes. Exactly, exactly. Pound strength on the back of the horse. Yeah, right. Wild. Yeah, it is wild. You know, this whole interest rate structure deal, it looks like, I mean, our economy is still going fine. But they're going to cut rates, man. Absolutely. I wouldn't take that off the table because we've been talking for weeks about the Eurozone probably leaning towards a quantitative easing before cutting rates. But with these numbers, this is where, now, this is where you use a short cutting of rates. When you have a number that comes out this bad, that's when you're like, OK, we've already been looking at a slowing of the economy. Now we have a major economic number. That's when bond markets start to sway. And that's when you start to have interest rate moves. Right. And you know, even on notes and bonds today, even the S&P shook off the negative. It's only up two, but guess what? Those notes and bonds won't stop, man. They're just buying them hand over fist, man. I mean, it's like, you know, and I guess when we look back, you know, folks, if you look back even 11 months, you had the 10-year at 3.3. So if you're actually a bond fray, when you're at 2.2 now, that is one monster move. Yeah, it's a big move. Yeah, it's a huge move. So now what's interesting is all these interest rate things that are going on, they're all kind of working together. So I think it's more than changing trends for the most part. It's going to lift ranges either up or low, you know, depending on which currency cross you're talking about. Yes. So I think the only, like the end right now, it's sideways. I don't care what happens. I don't think that thing is going to get a major bull or a bearish correction to any degree, you know? So except for, now we do have a couple options out there, the New Zealand dollar, US dollar, and the Australian dollar, US dollar. I think those are going to start to give you some swing trade opportunities. And then as far as like looking for a gauging of pound direction, you know, like we have the dollar index, look at that Euro pound and watch that. If that continues to erode pound strength versus the Euro, typically means it's going to be strong also with the dollar as well. Okay. And that'll be just deviant enough that you got Johnson saying, I'm going to leave anyway and the pound gets stronger. You know? Hey, listen, people who stop paying attention to that are saying, hey, guess what? The pounds saying we're going to go make money because these poor people that had money in the pound, man. I mean, I saw them lose a fortune in the United States. I happened to be right at a cigar bar with one guy who had just bought the huge amount of land and hadn't bought them mine, changed his money. Sure. And overnight he lost 40 grand. Like that would happen. Oh, sure. Yeah, man. And that's small compared to, I mean, but it was big money for him. Definitely. It was like, yeah. Folks, every trading day right here, you can go to trading. Forex. Forex-trading-unlocked.com. That's Forex-trading-unlocked.com. Check out Teddy every trading day. Teddy, you have a great one, a safe one. Of course, we look forward to speaking to next week. You too, guys. Thank you very much. Thanks for the update, Teddy. I get the crossroads now. Euro pound. Watch out. Euro pound. Stay right there. Tommy and I are coming right back.