Trading & Coaching Session - 28th October 2026

Okay, welcome, traders, to the live trading session. Now, I was just saying my apologies. I had the wrong links in for the webinars, right? The trading sessions, we're using some old link for some reason. You've been trying to get in. You haven't been able to. Anyway, we've got the video rolling now. All right. Now, for the guys that have managed to get through and find that link, well done. um good job i've got the chat section up so if you want to add any sort of chat now one of the things that we want to do right the idea behind this is it's not just um you know it's not like a waste of time what we're trying to do is just have a look at the markets right it's wednesday okay this is the main well it's the start of the where the markets are really connected and got things going so i'm just looking at the markets myself now what i want to do in these sessions is basically throw it to the floor a bit. And what I mean by that is get someone to give us a bit of an idea of what they're looking at. You know, I can add some sort of clarity around that as well. If I see specific things, then I'll give you some extra sort of knowledge, right? There's one or two things that I want to sort of just explain to you right now as we get prepared for the European session and what else is coming up, right? Now, so whilst I sort of give you a bit of a heads up on what happened on the Kiwi, have a think about if you've got any ideas, right? Like sometimes, I've been looking at, like just to give you the heads up, I'm looking at like dollar Swiss, right? This sort of squeeze to the top side. I've sort of been saying it, but it's easy to say, but it's hard to trade because you're like, what's going on here? There's no levels. And what you end up getting is just a big squeeze. Like the market was long Euro, clearly long Sterling, short dollar Swiss, and they're just squeezing out of those positions, right? It's the way of it. So that's – and I don't feel the connection to that move at the moment, which is a bit weird, right? By Wednesday, I'm usually feeling it. It's like just things are falling away. Chris had a good point earlier, just to remind me that the UK budget is tonight. That probably could have something to do with Sterling sort of drifting lower. um now first of all right there's a couple of things um on the aussie right now the aussie cpi numbers i just want to explain two things now this is where you're going to get a bit more as you get a bit more experience you'll understand what i was talking about today um there was a little bit of a misprint here there was like 1.3 on the on the month a month i think earlier and they corrected it on this calendar but one thing to notice right so we were looking for 4.2 right and i guess month on month 0.7 previous number was four and then you get a whole bunch of um you know expectation numbers there for some of the rba numbers now a 4.3 is is pretty good right it should really get things rocking confirm the rate hike all these sorts of things now um the rba governor bullock was actually talking 15 minutes before the release and and through the release she was more about talking about higher interest rates she'd definitely seen the numbers right so next time we'll be on to that but one thing i was looking at i bought aussie swiss based on that 4.3 print now it's it's basically hasn't really gone anywhere okay i got in at like 43 or 44 i was out at 41 and what i was just wanted to explain to you was what was my thinking about that well the move 4.3 for me was really a number not really on the high expectations but you know what it's it's it's up there and it's stronger it's much stronger 0.3% stronger than the last month and so it should really see it go up now the price at the time had slightly just broken through with Bullock's comments now the thing is I'm looking at the price and I was looking at Euro Aussie as well um I get in I get in straight away right as I said around 41 or something like that the I see it sort of top out here on that first bar and then i'm like just watching the price it's almost like putting your ear to the ground and like on a railway track and see if you can hear the train coming i'm just looking at it and feeling the price action and it was by no means like aggressive it was like yeah yeah a few people had bought it it's gone to here goes back to sort of like 40 45 ish i'm sitting around there and then i'm like this isn't bouncing because usually what happens if a number is strong right and it's going to go up you get the initial spike and that could be 10 or 15 points or 20 points okay it would then move back about say 10 be there roughly like 20 30 seconds if that and then start to go up that's what didn't happen and i was like hang on this what we used to say is that this is starting to smell right it smells it didn't actually want to go on with it so then i'm like, if I'm not 100% confident, I will just cut things. So I just cut it. And as it turned out, it was slightly in profit. If it had been slightly out of it, I wouldn't have been worried about it. But that's where I was because I was looking at these things, right? You sort of saw the initial move down in EUR NZD. It was back off that low very quickly and then sat there. And I thought, well, you know what? That's enough for me. I don't need to leave my cash in the market where there's not certainty about the direction of course we had the kiwi uh announcement coming up um kevin asked me do you think they're waiting to hit the aussie for the kiwi i sort of i went with not really because it's a different event but he's actually right because they are a bit joined at the hip right so but the thing was this is how my day uh mapped out i was sort of all geared up looked at the markets this morning okay this is great aussie cpi there's a good chance there i was actually looking for weaker numbers, really, then I thought, well, the Kiwi, it's like, what is it, 97% factored in? You know what? I went to the gym after the Aussie numbers, right? And I thought, well, that was a bit of a fizzer, right? And next thing you know, the Kiwi numbers come through and they were obviously, this is one of the things I would generally say, and it's been so long, I haven't actually said it for ages, when it's 95% factored in, there's only one risk, And the risk is they don't do the right move that is predicted. And then you get a big clean out. Now, what has happened on the Kiwi charts? Now, this is important you just understand this because are we getting short Kiwi from here? Who thinks that? Feel free to speak freely. It's currently building up some pressure there to do something. Yep. Chris has just said there Aussie CPI numbers do think already priced in. 4.3 from 4.2 is only 2% variance. It is, but I've seen 0.1% variance before, Chris, and I can see it go 120 points. It's the market setup, right? But this is the thing. And so what I want you to understand is the whole situation, they've not raised rates, but they were quite hawkish. So we're not selling Kiwi because they're still on track. What has actually happened is it's the clean out of the positions pre-release, right? Everyone who's sitting there long is now licking their chops going, oh, wow, that was a bit of a surprise. So what actually happens? You get the spike and then the Kiwi settles down, right? This is the new fair value for Kiwi. All things considered, RBNZ as well, this is where the price action starts building history from now, from this level. You wouldn't be selling Kiwi. They're still raising rates, but it's just not now. So all it is is a flush out of positions. So all this nice price action up here and up here and everywhere else, yeah, that's done. The Kiwi's been revalued on this number, and this is where price action now starts from. It's not like it's going to fall back to where it was straight away. The only time it will fall back is if the other side of the quote does something, right? We've got CAD Bank of Canada tonight right so if they don't raise rates cad's going to fall kiwi will go back to where it was right that's actually a fact like the other ones probably not so that's that this is a so it's a different scenario because sometimes when we see say really weak cpi numbers you get the move and then it stalls right but then it's going to keep going that's different this is a flush out we're still hawkish we're going to have to raise rates we're just telling you that and that's where we are, right? So just understand that because it's not like, I didn't want you to be thinking, well, I'm going to sell Aussie Kiwi because it's got to go back down and I've got to buy Kiwi Swiss. I don't want you to getting into that retrace because it doesn't necessarily happen in this situation, right? It is probably a little bit cool, but you know what? It's not like it's going back to where it was because this is just a flush out. It's a rebalancing of positions in the market. Now we start fresh from here. Everyone comfortable with that? Yeah, that makes sense. Yep. Yeah, it's just a simple flush out, right? That's it. Had the RBNZ come out, not raised rates like they did, so they didn't do anything, and then they said, we're just waiting and seeing, it would have paused here, okay, and then kept going. Here it would have kept on going lower, right? You'd see a one or two-hour pause and then it keeps going. It's not the case because they are still hawkish. The plan is still on. It's just a matter of fact that it's not right now. Okay, good one. So, Brad, do you wait for the New Zealand bank minutes to trade New Zealand now? No, no, not at all. The minutes, it's probably one out of every 20 out of the minutes, maybe even more, one out of every 30 that you'll find something in there that was a little bit weird um i guess what would be interesting would be i don't know if it came out in the statement i didn't really sort of get back into it would be the okay what was the vote count in the central bank you know yeah right um i think this is extremely bold and courageous and awesome to be honest right central banks like Michelle Bullock who runs the RBA um like a joke right this they've got their heads in old economic books that tell you how to do things this is a real gut-feel situation kiwi economy is very small uh fragile they raise rates again and just kill the economy could take years for it to come back right it's a bold decision and a really good one right because you know trump in this war thing like trump should be paying for all of this it's a bloody joke the i mean we're we're not far off it either i made a hundred 100%. And this is the thing, right? Because now it really brings into play, okay, let's keep our wits about us because there's some things coming on. This will update in a few hours, right? So that will change. But it was 93.6% hike, right? So this is really going to put the market on high alert for this one, right? 72% chance of a hike today in Canada. That's like almost from what the Kiwis were doing, that's almost like a line baller. Aussie 61.6, that'll go up a little bit with those comments, but we'll see. From here on in, though, it's good because central banks will be talking about the RBNZ, and actually, you know what? It doesn't hurt to hold off one month. I mean, she's already talking about, yeah, rates have already gone way too far, much further than they wanted. This is a fuel inflation, right? It's fuel inflation. Is this all to do with oil, Brad? Would you say this is all to do with oil? 100%. Like it's increased the price of food, travel, like everything. It's hit every aspect of the market globally. Yeah. So that's almost inflationary or a strong dollar, isn't it, really, the way it's playing out? Yeah, yeah. Sorry, I'm just going to tell the kids to get their own. I'll just with ours, though. Ours, power is a big player, and it's been up for a long time, a couple of years. It's constantly in double digits. It's not just the oil price. It's the cost of power that's gone through the roof businesses. Yeah, I know. There's been a lot of stuff, right? And there's a lot more stuff coming out of politics about no one paying tax either. It's ridiculous. The whole place is a joke. So anyway, so this is where we're at, right? So what I want from you guys, like I've just explained a couple of things. From here on in, it's more about feel, right? And I was just saying to you at the start, like, usually I look at the markets each day at least a couple of times, and I'm sort of getting a bit of a feel for it, right? And then I'm, like, looking at, like, sterling, and I'm like, like, what is going on there? Like, really? I know there's not much going on in Euro and everyone else is raising rates, but the whole outlook for the UK looks pretty bloody dire, right? It's just like a big, we're buying dollars, right? But we're not buying dollars really against the Aussie. Obviously, the Kiwis have done their job on that one. And even oil, I mean, dollar CAD is starting to go up, right? It's now becoming a big dollar move. So I don't know. Has anyone got any firm ideas? I mean, we've got some. The main thing coming out here is just get rid of these ones. That's a big shock putting them on hold in New Zealand. Oh mate, it's huge, right? And I was talking to Jase earlier, and it's like you don't get it all the time. Like it's once every, you know, 30, 50 meetings that you would see that. I just saw it's a four to three count too was the vote. Four to three. Well, there you go. So that was, wow, that's interesting, right? Wow. So anyway, that's probably why they're like, okay, we're going to have to raise. They come out and say, look, they come to an agreement. We'll keep rates on hold, but we'll tell them we're going to do it next time because we'll probably have to. or they'll have more data. This is the thing. They're buying time to get more data because if oil prices keep falling like they are, well, then maybe there's no need to. Anyway, we'll see. Would you say because they're a lot smaller, that played a factor as well, because their economy is a lot smaller? Do you reckon that played a factor? Yeah, because there's not many numbers that come out in New Zealand. um the there it's like i've seen it over the years like they go too far with rates like one hike too many it cripples it like disables everything in the economy and that's probably where they're they're close to they're they're right where we are in Australia so it's it's an interesting one and i tell you what everyone will be um screaming blue murder should the RBA go but And like, don't forget, this is the one thing you got to, there's a couple of things that they talk about in the numbers. And when you come back to interest rate hikes, this is where it would have been a really good thing for weaker numbers. Like this is 61%. I mean, it's probably a little bit higher now, would be because the unemployment numbers, the ---- house, like terrible. Like we're on the verge of actually, you know, things falling over a bit. And they did mention it, like employment capacity looks like it's pretty close to as much as we can do, right? I think it's only going to get worse. Sorry, what's that? About a repeat of 1983, I think. Could be, could be. We'll get old mates to come back in and start talking Banana Republics in 87 and then Keating, and then we'll get something really moving. Right. Let's just look at... So we've talked about what's happening, right? And this means that it hasn't found the data. What we've got, let me just come up here to meet him. So just having a look here, right? And we've got some, I've just gone too far. Okay, there's a couple of little bits and pieces here. Let me just go low. There's a few. We're looking at the crosses at the moment with the Aussie and the Kiwi more than the majors. And you're looking at the dollar CAD tonight, just in case. as far as if they don't raise rates? Yeah, definitely. You're right on the money there, Stephen. And for some reason, my calendar doesn't stick. I'm going to throw in the CAD. I'm a big fan of the CAD pairs. I'll work this out. So basically, yeah, you're looking at the CAD crosses, right? And this is the thing too. If the CAD crosses have not been good to you, well then maybe just watch or decrease your trade size. Now just understand the sequence, right? the right decision the report and the statement all come out at the same time right so they come out with their prediction which is 72 percent hike which we know now it's like okay this could go either way um and then the press conference is 45 minutes later that that really gives us the clues as to what they're doing now let's take something out all the central banks work the same so let's take something out of the RBNZ that they have gone on hold um and when when a massive hike when a hike was massively forecast this is the thing they do if they don't hike rates they will tell you they're going to hike rates because that's sort of it's sort of like we're bought we're just bought another month if they hike rates they usually will not go we're going to bang you again next time next month or the month after they'll be like now we're going to wait and see the data so there's sort of two scenarios here one is we could see the spike and the and the cad will correct very similar or the same sort of way maybe a different length um probably it's not as factored in so probably maybe not as it wasn't even that extreme for the kiwi to be honest but um the CAD will correct if there's no hike understand that right um so is that the real move Well, the real move comes from what they say in the press conference, which is 45 minutes later, and if they don't hike, they will say that they're looking to hike next time. If they do hike, they'll probably say they're neutral, right? That's the way of it. And the hike is factored in 77%. That means if they hike, there's still, or 28% of the market still has to get in, right? So you'd expect a little bit of movement to the top side on the CAD crosses, okay? um and that's pretty much the bulk of the day for us right we've got some european numbers coming out and that's like yeah yeah okay europe's doing their best but that's that data is not stuff that's going to move the market right um the ZEW survey swissy uh not really if it's if it's weird like the swiss is still like no one's best friend since january 15 2015 so the um Anyway, the Bank of Canada. So what you want to be doing is make it easier for yourself. This is how you take the pressure off, right? You've got the hourly charts. Now, what I would do is just get the dailies up. And this is what I did this morning, put the tunes on like I do, and I'm just sitting there. You know what? You stick me in front of charts. I'll just start drawing trend lines just out of habit. A couple of the guys who have worked on their platforms actually see me in action because I'll start talking, and then I'll just start doing their charts. And it's just a habit. And that's what you want to do because you don't want to, like when you're drawing trend lines, it's not the time to think, right? It's the time to draw trend lines, right? What you'll see sometimes is go, oh, hang on a second. That's a bit weird. I'll come back to that. So what I would do is just, this is where the action is, right? So get everything up that you need to, to make decisions, an easy decision about what the Bank of Canada is doing now the other thing is like the press conference is where the real gravy is so you've got you've got to have a bit of a plan around what you're going to do okay now the kiwi yes if you hadn't been in front of the screens and i was at the gym um and i think Gav was texting me going mate the kiwi's just bloody fallen out of bed and i'm like oh my god they mustn't have raised rates, which is I was like, I was Googling from the gym, like, RBNZ interest rates. And then I was like, oh my God, they have. Oh, that's so good. Like, it's good to see. Like, I like to see a good central bank have a spine and make a decision without referring to the textbooks. All right. So this is what I would be doing, right? Having a look at what's going on here, like CAD yen, obviously the oil trade doesn't look like it's really sort of playing out at this stage um we've got CAD Swiss right this is where you can start brewing on some of the some of the resources in the 247 trade zone like it's going down now this is like it's sort of it's gone as far as it wants to now it's just sitting here i think CAD Swiss is primed especially for a move back to the top side what we're going to need for that is we're going to need the hike right plus we're going to need some positive hawkish comments in the um in the press conference now it will go up as i said there's it's 72 percent factored in they will hike that means there's 28 percent of the market that hasn't actually bought yet they will buy so that'll go up a bit um then and notice i'm on the daily charts looking for the overall big action here right it's let me just get that that's like it's pretty steep and it's actually where the market is uh just a just a quick question on the the percentage of pricing how do they how do you work that out well it's more so it's the interest rate market itself right the interest rate market actually has a running um rate price of where the interest rates are like it's like they're called forward rate agreements right so there's a market that actually is the interest rate market is that the the auctions and stuff on the bond no no the bond auctions no no no it's different It's actually – it's just a forward. It's a – like the – okay, so the markets we look at, they're called spot, spot FX, all right? The forward interest rate market is the – like interest rates going forward, and you can roll it a week, two weeks, a month, whatever it might be, and actually trade and factor in deals and contracts, exporters, importers, where they need to do the dealing. Like they've got to close out this trade in 14 days. There'll be an interest rate percentage already factored into the market. So there's a general, when the data comes out, that forward market moves according to, so it just moves. And that tells you how much is factored into the market as far as an interest rate hike or cut is, right? So does it work the same as hedging? Like if I want to buy, if I'm an importer or exporter and I want to hedge against currency fluctuations. Yeah, you can. That's right. And you actually, well, you are, you're covering your exposure, yeah. So hedging, yeah. Yeah, okay. So that market, actually, it's not like what's been factored into the market. So however far it's moved, it will tell you how far that, what the percentage, how much of an interest rate hike or interest rate move is factored into the market, right? So the benefit of actually having… Which is based off those forward estimates of that market, what they're expecting. Yeah, that's right. And what gives it that movement? All the economic numbers, right? All these economic numbers, you put them into a basket and the best thing is, right, they come out every other day so the market sort of adjusts the forward rates to the data. If it's weaker, it's down a bit. If it's stronger, it goes up a bit. That's how they sort of keep track of it, right? So I've just got this updated, RBNZ hike 86%, right? That's where we are, no change from the Bank of Canada. RBA, that crazy biatch has actually got us back up to 84.4%. So that's interesting, right? So this is the 72%, no change from anything today. What we need to be aware of and learn from the events of today is, okay, anything's possible. and actually you know what it's it's more than possible here because 96% versus 72% feels like it's a bit of a line baller like they could seriously just stay on hold if they stay on hold 72% of the market has to sell CAD right that's why CAD goes down they got it wrong and uh but then this is the thing like learning you're like yeah okay so so the CAD's gonna move because they've got to get out of the position now we wait for the press conference because like the Kiwis if they come out and say oh yeah that was that's a one-off guys we're raising rates next month you're like okay okay so it's what i'm saying is it's a shorter term position you're not holding on the position for dear life uh because it could change right it could change um so that's where i'm at and this like at the moment just don't i'm trying to work out why i I just don't feel like, you know, where you get a gut feel for what's happening in the market, and then I feel like some days you're just, like, so connected, it's amazing, right? Then in other days you don't. There's nothing lining up that I can see. That's for sure. It doesn't feel good. Yeah, that's right. Well, I'm glad it's just not me, Kevin, because it's like I'm looking at it going, what the – I just don't get it. Like, what is actually going on here? And, like, EuroCAD is very similar to just Euro, right, against the dollar. So what I would be doing is just drawing your trend lines. Do not, like, this is the thing about the market. Sometimes we just don't know what's going on. And I think actually you mentioned it earlier in the week, Kev. You're like, you know, the market's probably going to wait for the central banks, right? There's so much mystery around, like, we know what they're doing, where the forward markets are and what the interest rate projections are, but what are you actually really thinking? What's the next move? That's where we're at, right? The meeting is all about this is what we're doing and this is the next move, right? The unexpected no change of rates is just an extra little uncertainty in amongst everything else. So I don't know. Do you? This is the last week of the month too, isn't it? So it's not the real week for trading, is it? It's not the best. The Aussie CPI numbers was a standout for me. But you're right. The last week of the month is usually a little bit disruptive. um Stephen I was going to ask you do you have any any general feel for anything at the moment well like i said before i i sort of watch what the oil price is doing because it seems to affect everything um it's actually it's almost inversely uh correlated with gold and silver at the moment the higher oil goes the lower gold and silver go but it's more about the cost of living that we hear about so i'm trying to factor in higher oil prices inflationary uh it's almost like they're putting interest rates up because it's costing business and everyone you know more money to sort of survive so when you look at the chart you know you're just trying to look for those opportunities to get in so focusing on the crosses which we did today with the Aussie and the Kiwi you talked about the Euro Aussie was a potential opportunity and then yeah we just basically got to do the same look at the numbers wait for the drop make sure you've got your trend lines in place and then look for the opportunities, because on a global scale, when you look back, the S&P and the NASDAQ aren't too far off their all-time highs anyway. And you've got these really high oil prices. So for me, it's about the oil and how that impacts the markets. I know we've got the individual data coming out, like we did today with the Aussie. We've got another couple tonight. So yeah, it'll just be basically wait and see, get ready. uh if it doesn't happen like the kiwi yeah you'll get a big move which was unexpected but now you're saying it's we've got fair value back in the uh in the kiwi so yeah just apply that logic and just see how it plays out that's sort of my position on it yeah and you mentioned some good things that's why i just sort of started looking around because it's like there is about the ai boom is it over there's some anthropic sort of big losses apparently about to come out and all this sort of stuff the um and it's and it could be like you look at the news right the news is a pretty good indication like like who cares like what like like get out of the way like they are dying without any sort of without trump creating chaos you look at the central banks i mean this is not a thing um like there's all like opinion pieces in here there's nothing really good i guess you know what trying to think of where i'm missing things like since the bond yields went through the roof right this has really disrupted a lot of things and then yeah sort of like the bond yields and the and like the equity indices now is just like the Nasdaq right the and then you see like the the major currencies are like they're confused because of all the bits and pieces going on so there's no so and this is the thing there's no shame in the market in a marketplace of traders coming out and saying, you know what? I don't actually know what's going on. I actually just don't feel it. And I was genuinely asking you guys, do you feel it and why and what is it? Because I'm sort of looking at some of this stuff going, like I always come back to the daily charts if I'm looking for clarity. And so looking at these move, dollar index, dollar Swiss, you can't see any lines anywhere. I'm like, what the frig is going on there? And then I'm like, hang on a second let's get some clarity what's going on here okay right so the dollar is above the trend it's still going up dollar swiss has been going up still within ranges the beast is just doing its thing um dollar cad broke higher now lower right i would be adjusting that line just to get it on now it's it's fallen away get that up there so that's sort of in a big big range this is the surprising thing euro okay now it gives you perspective in a bigger time frame this looks a little bit it looks sick right it looks like you've got a young kid in the back seat he just keeps vomiting right it looks terrible um sterling down what does that mean it sounds like me it means that clean out is that the clean out you're talking about well you got a mate on the piss that's the clean out with residual smell um aussie Everybody out there. You know what I mean? There's some things here that, okay, I can see what's going on. Like, Stirling doesn't look as bad on this picture as it does on the Owls, nor does the Aussie or Kiwi. These three here, because they're close to the trend lines and they're whipping up and down, gets me interested, right? Yeah. So that's where I'm at, guys. I'm glad you mentioned it, Kev. It was the last week of the month, so that's where we are. Let's keep an eye on it. A whole big week being one big day, like you talk about, or a bit one, whatever you said, you know. It sort of makes more sense than ever, you know, when you look at it in a bigger term, you know. A hundred percent, and that's right. And this is where I've sort of been looking around the best trending instruments, the Forex Trend Guide, just to look for opportunities potentially just on the daily charts. Have a look, do a bit of research, maybe put a small trade on a daily timeframe and just give it a chance to breathe. right so that's that's something that i've starting to look a little bit closer at but you're right and this is and it's something that you should all think of we've always like the guys that work in the industry each week is like one big day it's just one big day and that's that's it right the month is like a big week that's that's how we sort of look at it and we track things and care this is something that you keep telling me you're doing like next week let's have a look like you know what like this week here let's go and have a look at what's coming out next week and then you can sort of get primed and go yeah okay so so the rest of this week my tip right this is not a week to be making big trades as in big pots you're looking to add a bit of cash here and there if you can that's what we're doing right because from here it's like it's hard right what i'm saying is it's hard like trying to interpret sometimes what the central banks are doing the interest rate decision will be interesting that'll be worth watching then you come down into the Fed these guys will be a bit clearer and a bit more plain Jane this is all going okay we're all pretty good the uh and then you've got i mean nothing to get excited about the ECB um let's go what about what about pound CAD tonight so you've got the budget coming out and you've got the CAD numbers coming out later on yeah definitely i mean the budget can take some time to come out uh the CAD's clinical uh definitely well as i said like keep an eye on the CAD crosses um definitely when you've got that combination like today Aussie and Kiwi right they were like a half an hour an hour apart or something um sterling and CAD definitely worth a bow peep right and if you get into it the um there are some lines here this is where you you sort of get a little bit busy and start drawing lines i'll draw them and then i'll delete them if i don't think they're any good and use a couple of features here um you like i just saw on your interest rate tracker that it's got a the pound's got a 90 something percent factored in percentage yep whereas the cad doesn't it's a lot lower and if the if the budget comes out and it's not as um as as hawkish as they were expecting they're not spending as much yeah Yeah, that could definitely change big time, right? And then the CAD comes out as strong. And, like, I mean, who trusts the politicians? If you're there, you're like, mate, you go and tell them we're going to spend all the money on them, for Christ's sake, otherwise we don't get voted back in. There'll be other ones going, but if we do that, dude, we're going to hike rates and then we'll get sacked anyway. So they're at a position where they've got to be strategic. The budget will be, I don't think it's going to be much either way because they are not doing the budget for the benefit of the country. It's the benefit of their jobs. It doesn't mean we don't get a move, though. Would that bring the euro pound back into – euro sterling back into play as well for the sell of that long-term downtrend? Yeah, yeah, potentially, Stephen, yeah, for sure. Well, euro sterling – well, it'd have to be pretty big, right? I think euro sterling is like – it's just been a – you see these moves and like euro sterling sort of really went and then sterling has caught up right um but it still hasn't really come back it's still under pressure what we need in europe i think for this to come back it has to be like a real like we're not spending any money you bastards are on your own and then they'll go well that really eases the pressure on a hike um it's hard to see coming back off a 96 or whatever it is yeah but what we would be good getting uh the other the other way would be a nice trade, getting weakness in Sterling and then some really strong European news, which is I can't see it happening at all in the next month or so because then you get a nice move to the top side. We know exactly where it's been and where it's going and you lock it in. But definitely worth keeping an eye on, Stephen. This is where, you know what, you keep an eye on these trades and if you've got a jotter on your desk or like a pad, keep an eye on the trades this week, what you see on, say, on Tuesday, you're like, these are the trades I like. And then as you go through the week, you might see things change and you cross them out and you're like, no, that one's dead. That one's dead. And you might just keep an eye on, okay, Euro sterling still in the game. You know what? If Euro sterling, looking at this, right, without the UK budget, I'd be looking to get short. It looks amazing as a potential sell. I'm not too worried about it being overdone over here. it's it's heading that way and still looks like it's going so even maybe a neutral budget that could be enough to keep that sterling doing what it's doing and uh it's not going down as quick as euro yeah um it's a bit of a shame right because what we're going to find guys over the course of like the coming weeks and months we're going to be here and we're actually talking and setting up trades to execute right this is just one of those situations where we are actually trying to make odds and ends of things and i shouldn't be talking this much not because you guys are but because why am i trying like i don't actually know what's going on so usually i'd say okay guys what do we got right we've got a great trade here in sterling let's just go and load it up uh and why is it good and that's don't worry about anything else but here now i'm actually looking around going i don't know i don't know i don't know like you're just like wow i don't know What the hell is going on? So that's it. We could trade gold and Bitcoin. Well, there you go, right? If you want to, you know, what I would do first of all is get a bottle of whiskey and get that on the desk and then just start having swigs and roll the dice, have certain numbers for buy, other numbers for sell, and just go mad. That happened last night with gold. It just shot off like crazy. What caused that? Well, it might be one of these sort of correlations. It's sort of weird, right? That's right. So that's one of the big things, right? It's been a big story. And I thought I did see something on that. Just out of the blue, took off like a rocket. Yeah. It was due for a retrace. It's done that. It's heading back up there. It's come back and hit a floor right now and it's turned up. You'll find, so in this page here, right, just to give you that, I mean, I did this the other day, but I've got the front page, got the central banks and instead of like changing the regions it takes a bit of time for me to get up to speed i just went and set them up like US news euro news so then i can just actually saves me going through setting up find the links and find the other ones uk news so all i did to do that if i can show you is like you click on the top news or any of them just go duplicate uh new tab and you'll get a new tab like this one and then i could just change it to japan which i meant to do yesterday, I am already there. And what I can do is just right-click on it, rename it, Japan News. I get the same as the other ones because I'm a bit OCD. There you go. And then you've got – I missed that first bit. Where did you go to get that up again? Okay, so you've got the top news. You can actually do it with any of these tabs. So just say we go to the central bank one. What I would do is you'd come up, right-click on it, go down to duplicate, top news, and then – well, it's actually not giving me a new tab, but let's do it on this one. duplicate oh that's probably i've got the most number of i've got more tabs here than i need to let me just get rid of this one got too many tabs but you would do it do it this way so top click on any of them duplicate top news you'll have new tab there once you get the tab up then you can like any of these things right so this might be a good one for um what we're just talking about right so why don't we just have metals right and then i can change this one here rename it and then then you've got so you've got a whole bunch of these things right you get the main front page central bank this is where i got front page and central bank um you got world news which was what i used to have here i've changed it to us you get the quick links so there's a whole this is like where all your news is if you've got multiple screens i would have like this thing here like the breaking news have that up right you can have that for different set up for different countries as well and then you can keep abreast so when someone asks a question hey what what did gold do you can you can go into commodities and actually look down here through gold and see if there's anything weird on gold slips on oil fuel but that was like what is it that's two hours ago all right so it must have been before that because it went up um so anyway you'll find a lot of the answers in there and it's easier to navigate around right all right and that's that's probably it for today, guys, because it's like the CAD data isn't coming out for, what, midnight? Something like that? 12.30? Time for a sleep to get ready for the nightfall. Good on you, Kevin. All right, guys. Thanks for joining me. We'll see how we go back tomorrow. All right, guys. To a good learning, mate. To a good learning. Thank you. See you, guys. Cheers, guys.