 Welcome back folks. I doubt I was up for 64 Nasdaq's up to 49 SAPs are up 52 Let's go over to our mammoth the teddy cakes that as we do each and every Wednesday at 40 past the hour You can reach Teddy every trading day at 4x dash trading dash unlock calm That's 4x dash trading dash unlock calm Teddy cakes that what's going on brother? No, it's a quiet Wednesday as we're waiting on the Fed today. Yeah, so the bottom line is that What can we expect out of the Fed right? Well, I think it's more of the same, you know, it's quite honest with you And you know, we've been talking about how the volatility has been slowly dropping over the past few weeks And how we've been kind of looking for this to kind of stabilize a little bit And I think we finally hit that flat line point now if I mean if you look at their major currencies versus the dollar Like the pound the yen They're besides having tighter ranges on a daily basis, they've really gone nowhere over the past two weeks They went from wedging to just complete consolidation Now this is the majors, you know, like the pound the Swiss that the euro But when you still remember we we've been talking about a lot of your lesser currencies like the Turkish lira I can pay so, you know, like I think that the bull is still there for the dollar on but it's starting to slow down I think that it's topping, you know in a lot of those currencies The peso for instance their coronavirus pick cases have gone up Not in a good way over the past couple weeks But the market itself has consolidated in the peso for the past like month or so So I think that we're pretty much at the extreme now with the go with a lot of the lesser currency crosses So your dollar strength I think is holding up because of that, you know So and the dollar index remember when we spoke last week the dollar was still on a little bit of a bullish path And we were looking for it to kind of die out and start to hit at the upper part or the lower part of a resistance zone It did and if you look at like the dollar index chart and the euro in versus the dollar or the pound versus the dollar Canada all the big ones they're all starting to look like a reflection of the dollar index chart either directly or indirectly Depending on the gun, you know, which side the dollar is on and so this is what we've been looking for and talking about for weeks that You know the market has absorbed all this stuff and remember we talked about the interest rate component a couple weeks Back about how that's pretty static and frozen. So today we have a Fed day. What is the Fed gonna do? I mean, you're not gonna go even though negative interest rates are not negative interest rates People say like the banks are gonna lend you money. Well, no, it's because of the value of versus taxes inflation and what have you We're already at zero. Where are they gonna go? You know, so I think that all they can do is give more, you know Propping up saying that you know, we're gonna keep on to supporting the bond market keep on doing these things until we get Through this wave, you know, so And I think that's really where we're at kind of in limbo. Yeah, no, and I can see, you know So these currencies man, it's the currencies like to trend in a long period of time So I guess the real question is is that, you know, the dollar has been trending up for a dramatic amount of time You know, is this like a slight turn, you know, I mean, yes We don't know at this particular point But that's gonna get intriguing because I was watching, you know, these Not third world countries, but you know, Brazil that's not turning meaning, you know, that Currency got imploded the ran got imploded And you know, they're starting to turn, you know, we'll see whether just a retracement are in fact Their perception would be people would start saying amen. I think I think it's too overdone, right? I mean, yeah, right Yeah, right, right and I think that that's exactly what we've come to that point is that I mean Let's just say that the the coronavirus curve doesn't go up or down over the next month or so What difference does that have to do with the markets now? They've already had the shock value We went through that two months ago. You know and if you take coronavirus aside Let's just remove that from the equation The dollar was was a bull that was starting to struggle at the end of the year going into this year So if we take the coronavirus part out as we start and flatten the curve and come out then by just Going by that scenario the dollar should retract, you know But I think in the short run right now since we still have a lot of Unclarity, you know an uncertainty rather that that's what's holding the dollar up because it's still a flight to quality You know, everyone is still looking for the US dollar as support everyone's still looking to America for as a leader You know, I mean we have Europe that's starting to come out You know, we're looking at the numbers from Sweden and Norway and how things are How things are working over there in other parts of the world and if these models are actually correct And the real as we get more testing if these things start to really show the real Validity of where we're at now see two months ago. We was too much ambiguity. Right now We have data we have actual numbers to look at, you know And it's actually starting to fall into place more and more and more and if this trend continues Well, then our baseline should be where we're at now We'll stabilize and we'll return to where we were before the corona virus, you know As far as currencies and interest rates and things the equity markets. That's a whole nother ball of wax Yeah, it's so intriguing man that you know, we're so lucky that the dollars reserve currency of the world because if any of the country ever Used this much stimulus we would I mean I could just picture us saying what are they doing man? I mean they just the printing below the digital presses are going we don't even have printer presses anymore folks We do but the reality is that the central bank just hits a button digitally, you know Bottom line if Teddy owns the bank, you know, I'm the Fed Tommy's the Fed you hit a button and all of a sudden, you know You get a trillion dollars in your account that you can start lending out, you know what I mean? So right it does get pretty wild watching this whole thing shake out No, no, we'll think about the value of the dollar. I mean, we're one of the world's food producers Could you imagine if we were in the opposite relationship and our currency was slammed and come out of these were low? I mean you could have China basically buy up our food supply and we'd have starving Americans. Yeah, that's It's a big number. There's this. Yeah, I think we're all gonna basically find out quite a bit About many different things particularly, you know about what is what is the value of A food chain any type of chain actually, right? Do you know I'm saying in general, do you know what I mean? And then of course the dollar the dollar is a big one man I mean is sure I think folks that even well I it's hard to comprehend actually, you know as to how you can actually push that much money out and The doll is still holding but I can understand it because even though Europe can't get it together yet these These first-world companies are gonna have to push money out so the whole thing doesn't collapse, right? Because then they're gonna collect anything, right? Yeah, correct, and we will have a retraction the dollar We don't want to have the dollar as strong as it is right now This is a short-term thing that's good for the world good for the US But we need to have the dollar retract over the next like six months to a year. This is not a sustainable thing for the dollar It's not good for us. No, well, it's interesting. I mean, you know gold's hanging at the 1700 The equities, however the equities man are leading that gold market man These these equities off the lows they're up a lot of them up a hundred percent already You know you got Franco Nevada, which is one of the biggest stream is that's at all-time highs man It's like, you know, so that's that market is saying that you know This dollar is gonna weaken down a bit either that or the market saying that they're gonna stay into the dollar And they're gonna pile more into gold and gold so it's a small Sector basically that it you know it has a big effect, you know what I mean? So and there's more room to the upside with gold and there is with the dollar Yes, you know, I mean when you look at the index like people who don't aren't familiar with the dollar index or what? How that gauges the value of the dollar don't realize how expensive the dollar is right now, right? I don't know. I'll tell you good if we run vacation would realize how powerful it is wouldn't we? Yeah, you go to Mexico go to Brazil and you'd be a multi-billionaire man. Yeah, right Hopefully we have some signals for you next week. So you have a great week safe week. We look for speaking the next Wednesday Thanks, you have a good one guys. You too. Stay right there. Tell me not come right back folks