 over to our man, Teddy Kegstad. Folks, Teddy writes an outstanding newsletter. Every Monday morning, he puts it out for his subscribers. He puts out updates throughout the week when warranted, the Tiger Forex report. You can check it out under the newsletter tab on TFNN. You can subscribe. It's $97, folks. It comes with a 30-day money-back guarantee. And I'm telling you, even if you don't trade currencies right now, the information that Teddy puts in there on a weekly basis, you see what's going on today, man. We talked to our man, Kevin Hings. What's the first thing he said? The dollar index, right? What's the dollar index doing? What's the euro doing? Huge moves in the dollar index, impacting many of the markets worldwide, let alone our markets, to say the least. Teddy Kegstad, good morning. Good morning, Tommy. Boy, we got quite a week going on, man. We got some OPEC news that's potentially going to break while I have you on the air. Where do you want to kick things off, Teddy? Well, I think the dollar index, since you were bringing that up, we should start with that, obviously a lot of volatility. We're getting a little bit of a bounce today and I think we just hit it. We really hit support pretty hard, but we fell into our downside correction zone yesterday and now we're starting to find some stability. And I think that's what it is. It's just a correction, especially with the uptick in oil coming now, too. Yeah, some of the moves have just been so large, man. And this goes for the market as well, but we're seeing it really in currencies, especially since the beginning of the calendar year. The moves have been so large in one direction that you get pullbacks that do seem large, but in the context of the moves we've got, we got the dollar trading from 115 to 110, well, we were just trading it 104 as recently as almost less than two months ago. So some pretty big moves there. In the dollar, we have the Euro, Teddy, we can jump around pushing 98, 99, and let me pull it, I said typo. We just got back to parity a little bit. I got a trend line, man. The trend is lower prices, lower lows, lower highs. How does that translate to the Euro? Obviously pulling back, but where are your projections here? As we just bumped up to parity again, and we're just under 99 right now on the Euro. Right. Well, I think that the pullback that we had, it was a corrective rally. I mean, the bonds in the tenure, they rallied. So what happened? The dollar sold off, you know? I mean, when you have such extremes bouncing back off of lows, you know, I mean, even look at the S&Ps, everyone's like, oh, they've got a nice rally and everyone's getting all bullish. It's like, okay, we're coming off a brand new monthly, weekly, and daily lows. It doesn't mean we put a bottom in yet, you know? So, you know, and it's the same thing as with the interest rates, you know? I mean, they slammed so hard through support, you know, even after the Fed meeting that a correction, you know, we spoke about this two weeks ago because we didn't speak last week with the storm, you know, about how a correction is due. You know, why wouldn't it? Because we don't have a Fed meeting until November. We know no matter what, a three quarter point hike is on the table for the next two meetings, you know? So, I mean, and I heard you talking about, you know, some of the whole jobless numbers, you know, with ADP, you know, and also as far as job openings, which was funny, because when I first heard you talk about that, I'm like, well, we have to talk about the employment number, because that's the crucial thing that you can see now is the availability of jobs is just crashing right now, you know? So, when you combine, remember, I talked about this a year ago, that all your economic numbers are gonna start to really come into play with your bonds and your currencies. Well, we've had the CPI, the PPI, and all these other inflation type of numbers that really have been guiding the trends. Unemployment, even through COVID and whatever, has been pretty much under control. Now we have the issue is that, is unemployment truly going to stay low? Doesn't look like that's going to happen, because the number of jobs to open are decreasing, you know? So, and I think that's good. That was quite a number, I agree, man. That was quite a number, you know, if you're not paying attention to it, folks, a million jobs on the miss, and then, yeah, that's gonna matter, man, for sure. The dollar index is gonna move huge off of this number, I think, on Friday. So, and Thursday, especially, too, I think it's gonna really start to spark some volatility. You know, I mean, not like we don't have that already. It just keeps going, though. I know what you're saying, man, it's like the next data point is lining up, and we got a big one coming up Friday, for sure. Let's jump to the yen, if we could, for a second, because we have some big action here, you know, for the dollar, the euro, the pound, maybe we can pull up after the yen. But the yen, boy, we're just pushing highs, even after the intervention, man, so much for that pullback, the yen, you know, doesn't look like the other charts right now, Teddy. Maybe if you can break down, I know you have talked about to the listeners, but for those that are maybe new to you, new to the segment, when you talk about the yen, because we've got a lot of gold traders as well, and that's always a big one out there, kind of the difference, maybe, in the divergence going on for the yen chart that I have pulled up right now that we're pushing that 1.35 limit again, versus what we see in the charts, like the euro or the dollar, for instance. Right, right. Okay, well, the yen, absolutely now, two weeks ago, you gotta remember, that was when they did the midnight move, pretty much, and everything started to spike around. I mean, you made new highs and lows in a big way. Now we've been pretty much, you know, we had such a radical spike, we've been absorbing that for the past two weeks. I mean, you've seen a lot of volatility and trending action in the pound, the euro, and the other currencies. The yen has been very, very tight. I mean, and talk about, I mean, I don't know what trader, whether you're directional or a range trader has made any money in the last, like, week and a half trading the yen. But that being said, I think that this is just the plateau before it explodes to the upside again, because no intervention by Japan is gonna be that significant, that's gonna counteract what we know our Fed is doing. I think the employment number, especially if you start to see the 10-year go offer and the 30-year go offer into Thursday and Friday, especially, and that meaning where they just kind of spike around, but where they really lay on the offer and push new monthly lows, I think you're gonna start to see the US dollar yen and start to explode to new highs again, you know, especially with oil going on the way it's going, you know? I mean, you gotta realize, I mentioned, I heard you talk about the 2022, 2020 when OPEC pulled back on production. You know what counteracted that? Russia dumped all kinds of oil on the market and oil actually went down, remember? So, but what do we not have this time? We don't have Russia to come to our aid. We're blocking Russia, you know? So the oil trade, I think, is gonna explode. Remember, I've been saying as we head into the fourth quarter in wintertime, what happens with energy prices? I can see oil back above 100 and pushing that 120 area high, for sure, easily within the next couple of months. You know, maybe that 150 for Christmas will be what we get, you know, $7, $8 gasoline at the pump. And you've talked about, and so that helps the dollar immensely, especially versus the yen because we are producers of crude, right? Is that how that, perfect. And the petrodollar impacts that too, that effect of it. So you have interest rates, oil, and the conversion. And we had a question at the end, and we talked about it, what exactly was it? Was that the Bank of Japan intervening? I forget the exact terminology, or what was that, Teddy, was it? The question at the end was, did the Bank of Japan intervene to support the yen? What was it, and I have it up on the chart, you know, with the spike, but what was it exactly that they come out and say? Was it there, what was it exactly that happened on that day? Okay, yeah, that's the funny thing is, is that everyone's like, they intervene. They really didn't intervene. They just put in a bigger stance than they did a couple months ago. Remember when they drew the line in the sand at 1.30? Yes. This is what they did again, but only in a more severe way, because when you break down everything that they said that they may or may not do, ultimately they're gonna still keep buying their bond market. So there's nothing that they can do, you're not defending your currency if you're defending your bond market. It's a tug of, it's a tug of war that goes nowhere. You know, so it was a lot of encouraging speak, but that's all that was. Boy, it got erased on that chart within two days, it was a Pearl Harbor, I got nailed that day, made the new highs and crashed me at a $7 range that day. Wow, crazy. That's tough on the charts. Teddy, I appreciate you taking the time, man. We look forward to talking to you next week, as always. Have a great week, brother. Okay, check out the Tiger Forex Report folks at TFNN. We'll be right back.