 Let's jump over to our man, Teddy Kegstad. Folks, every Wednesday at 40 past the hour, we talk to Teddy. You can reach Teddy every trading day at forex-trading-unlocked.com. Teddy Kegstad, good morning. Good morning, Tommy. Good to see you again. Good to see you as well, man. So we get some inflationary data with the CPI. We've all seen some harsh numbers. Now it could be transitory. There's some big numbers in there, whether it's used cars, whether it's travel and the likes. There's action in currencies to say the least across the board today, Teddy. What are you looking at this morning, this week, in the forex market? Well, it's funny, the CPI thing. Now, I've been telling you for the past few months that, actually, at Christmas time, we started with inflations coming because look at the raw commodity markets, okay? And now we're really seeing it with CPI. Like I heard you earlier talking about the used car market. We all know it's crazy that really used cars are up almost 100% in certain areas of the country right now, you know? But what about corn? I was looking at the performance stats of certain parts of the CPI, excuse me, from the commodity index. And I looked at corn. Corn is up 128% in the last 12 months. It's up almost 40% in the last three months, okay? Now these things are not stopping, you know? And it's not just policy anymore. I mean, I live in the Midwest. Last year we had an issue with planting because of rains. This year we haven't had any rain in Illinois. I mean, since the big snow that we had back in February, we've basically been in a drought, you know? So planting is becoming an issue because everything's like a rock right now, you know? So these things are going to definitely keep on tapping into the markets. Remember how, you know, the bond market, the interest rate market is something that dictates currency pricing, okay? Well, these other things are helping to play into it, too. So now the CPI number is something that we're going to be watching a lot. And look at the bond market. You know, currency pricing is a reflection of interest rates. Now a week ago when we talked, the policy with the Fed was still that there'd be no change in interest rates for until the year 2023. Now I learned math a long time ago. To me, that means that's a year and a half from now before the Fed would be even talking about raising interest rates. Since we talked last, I mean, I remember when I heard Yellen say last week, well, we may have to raise interest rates to curb inflation. I mean, it was like a mind blower, you know? So especially for the dollar, okay? You know, because short run that means all of a sudden dollar bulls may start to look for some nice places to take some opportunities. Now we have divergence in all these currencies because of like oil. So let me give you a couple of trades right now. We do have a buy signal in the U.S. dollar Swiss. There was a three-inside-up buy pattern that came out of after yesterday's close. So right now I think that as far as the European currencies, you can look at the Swiss, the U.S. dollar Swiss, to see some strength there, you know, as far as the dollar. A target of 92.23 is probably very likely to happen if this bounce is going to maintain itself. And I would use the low in the U.S. dollar Swiss from three days ago as your guide for risk, as far as being bullish and bearish, you know? And the Euro-US dollar I think will also follow the Swiss, meaning that while the U.S. dollar Swiss is going up, the Euro-US dollar is going to go down in pressure support. Now I'm not bullish the dollar overall. This is a short-term counter-trend move, which is big. So as we're not looking for a change in trend, this is just, I'm looking at as a profit-taking move. Now if you're trading like the Australian dollar and the New Zealand dollar, I think that's very mixed and choppy and be very careful with that one. That's a range trader's probably delight right now. I've been saying that for a while. It's very rough to look at that, those two currencies. The U.S. dollar Canada, remember, I've been a bear now on this thing for a while, saying be careful with this. It continues to pound new lows. I mean, I have a target now of $1.20 in the U.S. dollar Canada, you know? It might be there by the time we're done chatting, Kevin. No, I didn't, Teddy. I mean, on a daily basis, and I talked about it yesterday, because I mean, last week, excuse me, but yeah, that's just remarkable, man. The U.S. dollar Canadian, as it just keeps. I mean, since we talked even last week, just continue it to drop, yeah. Right, right. And this is the kind of thing where certain currencies are maintaining these trends. I mean, the U.S. dollar Canada has been in a free fall now for over a year. And with all these, now with CPI going the way it is and with oil going the way it is, I mean, we went from being a net exporter of oil three months ago to now we're importing oil, and then we have this pipeline issue. Yeah, this is huge. This is huge, you know? And think about that as the price of oil goes up, the price of production of corn, wheat, soybeans goes up. You have drought conditions that also inflate it. And then if they start to raise interest rates, that brings up the cost of carry and the cost of doing business also. So with the Fed using this thought of being fighting inflation by raising interest rates, I was talking to somebody who runs a family office yesterday for their financials on business. I'm like, does it make sense that the Fed would raise interest rates to curb inflation right now? They're like, absolutely not. It makes absolutely no sense. Like they're scattering trying to figure out how are you going to manage money on big asset levels. Now, when you have a Fed that's using the opposite direction of what you should do for the issue you're trying to address, you know? And especially when they had a stance of we're not touching anything until 2023 to help us get through this pandemic. It's mind blowing, you know? It just doesn't make any sense at all. And I think you're going to see the dollar swing a lot, especially in it's going to be, but there's divergence. Like I said, like US dollar, Canada, it's a bear. I would not try and fade that thing whatsoever. I would look for a rally to sell more than a break to buy. You know, the European currencies, especially like the Swiss and the Euro, they're going to, I think they're going to have this nice little sell-off. The pound, it blasts, since we talked last week, it exploded to new highs. It hit, remember I had a price target of $1.41. This was weeks ago. I mean, in two days it just exploded like a balloon underwater. You know, so today's sell-off in the pound, is that a reversal? No, I think it's people taking profit because they had such a huge return over the past couple of sessions. Yeah, when you said sell-off for a second, I almost didn't even see what you're talking about because I have the daily up there and just the run it had over the last two days. Today's, or a few days really, the red bar just looks like nothing. I guess $1.42, $2.40 back from February, completely in play, right? And yeah, quite a run it's had from $1.38 on May 3rd to be sitting at $1.41. It is pretty interesting, Teddy. We got like one minute, two minutes there. When you look at, we got such a big miss on the jobs number, right? 266,000 jobs added. So the jobs aren't coming back as quick. And now a little bit of the fear, though, is that are we getting an inflationary number? And it would be really interesting to see if we don't see that jobs number pick up, that put a little bit of fear in the market, of course, that the... Here's something to support what you just said about the jobs market. I was talking to some people last week who have multiple different types of businesses. You know what their biggest problem is right now is? People won't come back to work because they're being paid not to. Sous chefs that make $80,000 a year will not come back to a high-end restaurant because they're getting paid 60 grand to hang out in Colorado, you know? So that's a problem. People will not come back to work that are getting paid. And then you also have a problem now is they're trying to hire new people. No one will work for less than like $30, $40 an hour literally in Chicago land because things are so expensive, like jobs that paid $20, $25 an hour starting, they can't fill. And that's just... I mean, people will not work for less than $30, $40 an hour. My dad said to me yesterday two days ago when Chipotle racked up that they're going to be charging paying $15 an hour at Chipotle, inflation's here, man, in a big way for sure. Teddy, we appreciate the update as always, the education, man. We look forward to talking to you next week. Cool, sounds good. You guys take care. Thanks so much, man. You too.