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I heard you should trade like a central bank. Let’s see what the Federal Reserve trading desks are waking up to on 5 September 2023.

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Brad Gilbert, a foreign exchange trader and former banker, recommends that retail foreign exchange traders get into the mindset of trading like central bankers. In this video, he lays out some tips for getting into the central bankers’ mindset. I have viewed this video a couple times and found it very insightful.

With all the chatter about the coalition of Brazil, Russia, India, China, and South Africa turning their backs on the American dollar and the probability of the BRICS coalition creating a resource backed currency used to settle the trade of goods and services between them, I thought it would be a good idea to focus on the U.S. response to the move and start exchanging insights on how these moves will impact trade here in the U.S.

What makes this exciting is that I am learning along with you. What is also telling is that as individuals we can no longer leave the growth of our capital in the hands of others.

(For my take on the political economy, buy my book at amazon.com/author/altondrew )

The old adage is that 99% of retail traders fail. I believe that we are failing because we are not good at obtaining and trading the most valuable commodity: information and knowledge. That failure is compounded when we push up against the hourglass of time.

Anyway, here are, in my opinion, some of the data the American central bank, the Federal Reserve System, will look at later tomorrow morning.

EUR/USD=1.0787

GBP/USD=1.2570

AUD/USD=0.6401

NZD/USD=0.5900

USD/CAD=1.3626

USD/JPY=146.3800

Source: Board of Governors-Federal Reserve System.

Disclaimer: The data and output from this blog post does not constitute investment or legal advice and is not a personal recommendation from Alton Drew.  Nothing contained herein constitutes the solicitation of the purchase or sale of any futures or options.  Any investment activities undertaken will be at the sole risk of the reader.  Alton Drew expressly disclaims all liability for the use or interpretation (whether by visitor or by others) of information contained herein. Decisions based on this information are the sole responsibility of the reader.  Any visitor to this page agrees to hold Alton Drew harmless against any claims for damages arising from any decisions that the visitor makes based on such information.

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