 All right, let's jump over to our man, Teddy Kegstad. Every trading day, folks, you can reach Teddy at forex-trading-unlocked.com. We talk to Teddy about the forex market every Wednesday at 40 past the hour. Teddy Kegstad, good morning. Good morning, Tommy. So, where do we start, man? We've had quite a run in oil this week. I'm always thinking about you as I see those crude prices climbing ever higher. We almost made it to $80 in the overnight session on lightspeed crude. Why don't maybe we start there? So we don't rush that conversation at the end of this talk because, man, this market has been on fire recently, Teddy, and to your credit, you've been pumping it for $100, and it seems like it's a one-way ship upward right now. What are you looking at in that crew contract? Well, I'm looking for it to follow through, and I think it's going to have a ripple effect into multiple markets. So I think it's going to hit everything from the S&Ps to the interest rate markets to the currency markets as well, especially the currencies that are balanced off of oil. Whether they're oil rich or oil poor. So I think it's definitely going to be rocking things. And why not? Could you just jump into those countries in particular? I know we talk about it often, but we're always getting new listeners. When you say those countries, whether you're producers or consumers, so we have crude rocking higher. Where do you go in your head from you take crude higher to what currencies do you look for that that's going to have an impact on the most as crude? I agree. It's just a huge influence across the board right now, which is why I ask. Yeah. So here's the way I look at this scenario panning out. As oil gets above $80, we already know that there's a threshold in the economy. This is pre-pandemic. This is when the economy was much smaller than it is now also. So when oil gets above 80 and starts to maintain that, let alone get to 100 or more, we know that there's going to be a lot of dynamics to start to change. Now the last time oil got to 100 or above, you got to realize we didn't have the inflation that we have right now. So that's a huge, huge deal. It's going to make the oil rally now, the amplification of its ramifications is going to be exponential compared to what it was, say back during the Bush era, back in the early 2000s. So anyone that remembers that, when you were paying for regular gas, you were spending $6 for a gallon of gas. So now the taxes are higher than they were before, 20 years ago, 15 years ago. So all these things are going to hit very, very hard and it's not just the United States, it's going to hit places like Japan. If you look at the US dollar yen, they started to break out to the upside with this as oil is moving back. Remember, I told you the oil trade was off the table a couple of months ago? Up until a couple of weeks ago, I said if we get to above 80 and towards that threshold, as we go towards 100, which I'm telling you, we're going to 100, you know? I mean, so, I mean, and this is going to have a big impact on the yen, the US dollar yen. Even if the dollar is weak, the US dollar yen trade, I mean, I tell you, 116 is not far-fetched anymore. If anything, 122 in the end could very easily happen by the end of the year. If we see oil escalate, if it starts to really explode to the upside where we go from 80 to say 90, 95, and we do hit this $100 threshold, you realize that even if we have a 10% correction off that, that means oil will go from 100 to 90, bounce fine support, and then go higher, you know? And that's going to have a ripple effect in the currency markets. And then you have your supply chain issues, you know, I don't know what it is like completely globally, but I read last week, you know, you have over 500,000 container ships, it's crowding the ports of the United States, Houston being one of them. So the ability, even if we had cheaper oil and we could have it all flowing and whatever, the ability for oil to get to the refineries and move from one place to another and what have you is being restricted by all of these other ripple effects from these other things from the pandemic, you know? And it's going to drive, like, I think the US dollar or Canada trade, that bear is coming back. You know, I see, like, I see definitely see the US dollar yen long term trending higher. US dollar, Canada, we have a head and shoulders now that is formed on the daily basis, you know, and now we're treading looking to fall back down. As oil gets stronger, the Canadian dollar will be strong versus the dollar. So it doesn't matter any, we have the true divergence in the currency market. So where the US dollar is going to be strong versus the yen, it's going to be weak versus the Canada. And in a normal world, you'd be like, well, how does that happen? But this is not a normal world we're living in anymore, you know? And when you look at these conditions, something like commodity, a commodity such as oil, where I don't care how much we're coming off the oil nipple, all the heavy machinery is used by, we need it, you know? So I mean, like, that's not changing any time soon. You can't just flip a switch with this stuff, you know? And I think the ripple effects are going to be big, you know? So the euro also, you know, remember back in the spring when the euro was up at 122, I mean, everyone was arguing, oh, we're going to see the euro at 135, 140. And I'm like, I don't know about that one with the oil train, you know? And now, I mean, I wasn't looking for it to necessarily, I never was very bearish the euro, but I'm like, I don't know about being remotely bullish the euro, you know? And now we're worried too, you see how if you look at the dollar index, we know the major components is the euro and the pound, OK? The euro is making new lows. The pound isn't. It's trying to hold up because they're oil rich, you know? So and it's going to have an impact. The US dollar Swiss is getting strong once again, too, you know, because of these same dynamics. So where you have the dollar strong against two European currencies, it has a trouble with the pound, and it's going to have trouble with the pound going forward for that, you know? So and I think the same thing is when you look at the Australian dollar and New Zealand dollar, you know, it's because of restrictions and because of these other supply issues that they're not going to be able to get rid of their stuff. I mean, look at what the gold is doing, you know? And there's a move. If you look at the interest rates, how they're selling off right now, you have this dynamic that, you know, even the price of crude and the cost to carry over goes up as interest rates go up, you know? And that drives even more inflation, which then, you know, all this stuff starts to become a domino effect where one chain starts to become four or five little loops, you know, how the dominoes spread out when you start with just one little row and they grow out. And these are the ripple effects, you know, we're coming on the 34 year cycle for Fibonacci for the stock market crash of 87, you know, October 17th is just a week and a half away, you know? So and I think this perfect storm is here, you know? I think we are definitely in motion and we're going to have a wild, wild ride and we're going to see some big trends in the currencies, you know, the dollar being. It's pretty cool just to giant. I completely agree, man. And Kevin, we were talking about kicking off the program, saying it's an awesome time to be a trader, man. And it seems like it spans whether you're in futures, equities, forex, commodities, my goodness, right? And I agree with the way that, listen, we have a lot of supply disruptions, man. You see it across the board. I think we're going to see it all the time in these earnings coming up. And it's just so prevalent that I imagine it's going to take a year or two at a minimum to work itself out when, just like you talk about ships and getting into port, man. We got kids at home. I'm thinking about starting shopping right now, Teddy. And I'm not joking, folks. If you have kids out there, man, yeah, exactly. Get your products now because I'm not going to be waiting when everything is out. And today, like you said, it's not a normal situation. And so even in my own mind, you're making decisions, right? To plan for those types of disruptions. And then it's like, where do those ripple effects? That's I was just going to say, where do those ripple effects go? Right? Yeah, it's pretty cool, man. Teddy, we appreciate the conversation. As always, man, you have a great week. We'll talk to you next Wednesday. All right. Take care. Thanks, Teddy. Take care. We'll be right back. It's happening. Listen, I'm not stepping in front of that train. No way. Thanks, Teddy. We'll be right back.