 Let's jump over to our man, Teddy Kegstad folks. We talk to Teddy every Wednesday at 40 past the hour. You can check out Teddy's outstanding newsletter folks right on the front page of TFNN, the Tiger Forex report. Teddy puts out new issues every single Monday. He puts out updates when the market warrants it. And boy, we got a lot going on in this market when you talk about yields, Forex markets, crude. Teddy Kegstad, good morning. Good morning, Tommy. Would you think about that number, huh? There's a lot to dig into that number, man. It's almost like, Teddy, that we got so much data coming out lately, man. And this is what creates so much volatility, in my opinion, at least, that there's almost something for everybody in every single number, man, that we got coming out in terms of energy prices coming down. But food prices are still up. Month over month, the number is flat. But we all know month over month the number is flat. But it's not flat right now in CP in Thailand, right? So it's just the interesting action, man, across the board. What's your take on that number this morning? I think I was listening to you guys talk earlier, and there was a couple of comments about how you already was scanning the news already, how they're already crying. It's peak inflation. And we're here, blah, blah, blah, start to get happy. Everything's going to be all better. I think people need to really put this number into perspective. Think about if you're driving in a car and you're driving 50 miles over to speed limit, and you're redlining right now. And that redline gauge is your CPI number. All it did is your RPMs dropped a little bit. So now you're going 45 miles an hour over to speed limit. You're still speeding. It doesn't mean anything. It just means that the acceleration has slowed a little bit. But inflation is still really here and driving, and is the driving force and the trends right now. And I think that where the news is going to call and get on their pepper alley box, which they always do for this kind of thing, the market's already showing you that it's not fooled by this number. And you can see by how the dollar first took a blow. But it's coming off of those highs and lows depending on which cross you're talking about. And I think that overall the market's not that stupid. They're not buying this reduction, if you will, in inflation. Yeah, I mean, you could make the case that this could be peak inflation, right? I mean, I could if I was writing a paper in college or something like that, and they said make the case, right? I could make the case. There's enough to add out there. But I'm sure I could make the case on the other side of it too, in terms of the other side, as you were just kind of talking about. We're at 8.5%. We were at 8.5% in March. Core number has come down. But boy, you look at some of the out of the comments of Core Shutter. Very sticky. Sorry, Tommy, you got a little choppy on there. Did you say something about the food number at once? No, I'm sorry about that. I know I'm dealing. I was talking about shelter costs, 0.5% up for the month, right? And that's very sticky. Maybe you get, that's a 6% annualized. And then you have food up 1.1% just on a monthly basis. And that's off of a number that's gotta be pretty high when you think that's a July number compared to a June number. And we're up 1.1% on food, man. So that's, I hear what you're saying for sure. Speaking of the food number, can I just tell you something real quick on that food number? And I think people should also think about this. I talked to somebody who's a food producer and they were talking to people in the industry about, you know, are things getting better as inflation's starting to level out. And he said something that made a lot of sense that distributors, like let's say a forks, paper plates, napkins and things like that to restaurants. The cost to restaurants now is going down slightly for these items, but it's not because that there's this oversupply of things and the supply chains are fixed, it's that the orders are being reduced. So they're actually now the suppliers are having more product to give to the buyers because the buyers aren't buying so much. So that's a problem that we have right now. So these numbers as they start to come off and say, oh, inflation's not accelerating, things are getting better. You got to think about why are they getting better? Is it because people are still spending money and the price is going down? Or is it because people are spending less and the demand is drying up? I mean, that's kind of part of the conversation at least with some of those retailers with Target and Walmart and like where they just had a glut of certain aspects of their products and people saying, you know, eventually they're gonna have to get rid of that inventory, they'll be lower prices, they have sales, whatever it be, but not necessarily indicative of strength in the economy if that's pervasive across the board. We got to talk a little bit of crude. Let's talk crude. So just like you were talking about with inflation, it's ironic that the crude market is right now bottom or is trading at the level that it was plateauing before it had that huge acceleration up to 120 when we went from 90 to 120. So I know you're gonna say, are you finally gonna be no longer a bull? I'm still bullish and I think that we're treading on some interesting ground now for the oil market. We'll see what the numbers come out later on this morning. I still am a bull. I think that right now it's a short-term pause for the cause and I think another thing that's stressing the dollar is the fact that oil is down. So that means that you gotta remember that the oil is still driven by the dollar as far as pricing and interest rates are going down because the market is lifting the interest rates to a bid right now, which is in the opposite direction of which way the Fed is going. So I think that right now we're at this touch and go stage where it's when everything starts to look rosy and the news especially is getting all happy. We're coming into elections. I'm not buying it. I just am not buying it. I think we're gonna see that right now it's just a stabilization before we start to go back to the original long-term trend meaning higher oil prices. Yeah, I got the chart up man of the screw contract and as a technical trader myself, very hard to go bearish when you basically you're at levels that we haven't seen since February and meanwhile the war is still going on. Man, you know, Europe's still in big trouble. We still got issues in terms of supply chain issues across the board. So I'm not sure that, you know, the market is back to like you said before the breakout. I'm not sure all those risks are alleviated in the market where you have a price that's in the 80s right now. 89.57 I got as we speak on the crew contract. And that's the front month. That's the front month. If you look at the further out months, the expectation is higher pricing for oil right now. It's not a deficit. I'm just tying things back folks. I had it on a daily. Let's just go back on a weekly, but you're talking about man, we were trading at $80 folks in October of last year. Right? I mean, just in context of all the variables that are in that market right now, Teddy that weren't obviously priced in correctly before the war going all the way back to October. Seems like 89 bucks, man. When you're dealing with 80 last October, we might be in a range of tire for at least a period of time, you know, longer than we're sitting right now. We got a couple of minutes here. What forex pairs are you looking at Teddy? We got action almost all over the place this morning. Any of you want to touch? Well, let's talk about what happened so far today. You've seen acceleration to the upside in the Euro and the pound, the European currencies have definitely pounded the dollar. That's the Swiss, US dollar Swiss is making new lows. That's what you have to watch is the divergence. You have the Euro that finally broke resistance and breached that level and now popped a higher move high, but it's barely making a higher move high. Okay, so, and you have the pound which hasn't made a higher move high. So the trend there is you have this nice little stabilization, but you look at how the number is the number came out, the dollar got whacked. I'm telling you, the market net is getting it right and the news is gonna get it wrong on this one. I think that it's a head fake and then no matter what, at the most, if we don't get bearish meaning these other currency meaning bullish to dollar, I think we're just stretching the range of consolidation. I don't think that the dollar is that weak right now versus these currencies. I like the take, man. We're on a lot of the same pages. I appreciate you taking the time as always Teddy and we'll talk to you next Wednesday, man. Yeah, okay. Okay.