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EarnForex.com Monthly Newsletter
*March 5, 2013*
Welcome to the latest issue of EarnForex.com newsletter — March
2013.
In this issue of EarnForex.com newsletter I will remind you about the
most important Forex-related events of the last month and will also
show you the list of the site's latest updates.
*
Overview of the major currency pairs' performance in February*
*EUR/USD* — was on a fast way down through whole February. It was at
the maximum at 1.3710 on February 1, at its minimum at 1.3018 on
February 26, finishing the month at 1.3056.
*GBP/USD* — fell even faster than EUR/USD. The highest monthly rate
was at 1.5878 on February 1, while the lowest — at 1.5073 on
February 25. GBP/USD finished February trading at 1.5163.
*USD/JPY* — traded mostly sideways with one extremely volatile
trading session on February 25. The pair rose to as high as 94.55 on
February 25, reaching a bottom at 90.86 on February 25 and closing the
month with the 92.55 rate.
*EUR/JPY* — went down with mixed volatility. The monthly high was at
127.71 on February 6, the monthly low — at 118.72 on February 25.
Trading ended at 120.83 for this currency pair.
*GBP/JPY* — attempted to rise during the first days of the month but
failed and declined in a bearish rally afterwards. The maximum level
for this pair was 147.97 on February 7, while the minimum — 137.84
on February 26. The month's trading ended at 140.32 for GBP/JPY.
*
Fundamental background of the past month*
The US dollar ended February as the best-performing currency
<http://www.topforexnews.com/2013/03/01/dollar-ends-month-as-best-performer/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
and the Dollar Index increased 3.5 percent. The currency started the
month mixed
<http://www.topforexnews.com/2013/02/02/dollar-mixed-after-fed-meeting-non-farm-payrolls/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
on employment data and hopes for additional stimulus. The minutes of
the last Federal Reserve policy meeting suggested that some policy
makers favor removal of monetary accommodation, spurring the dollar
upwards
<http://www.topforexnews.com/2013/02/23/feds-minutes-boosts-usd-do-not-prevent-weekly-loss-vs-jpy-aud/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
. Fed Chairman Ben Bernanke countered such view
<http://www.topforexnews.com/2013/02/27/dollar-flat-after-italian-election-bernankes-testimony/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
, saying that monetary easing is necessary. This did not prevent the
greenback from rallying amid risk aversion
<http://www.topforexnews.com/2013/02/21/us-dollar-index-hits-three-month-high-on-risk-aversion/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
February was not a best month for the euro as the currency was weak
amid recession fears
<http://www.topforexnews.com/2013/02/21/euro-drops-as-recession-fears-resurface/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
. Comments of European Central Bank President Mario Draghi were
especially harmful
<http://www.topforexnews.com/2013/02/09/euros-huge-weekly-drop-after-ecb-meeting/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
for the shared currency of the eurozone, suggesting that recession
will continue this year. Italian election, which resulted in a hung
parliament, also had its negative impact
<http://www.topforexnews.com/2013/02/26/traders-move-away-from-riskier-currencies-including-rupee/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
on the market sentiment. The 17-nation currency attempted to bounce
<http://www.topforexnews.com/2013/02/27/euro-higher-now-but-is-the-currency-still-vulnerable/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
at the end of the month, but failed amid unfavorable fundamentals
<http://www.topforexnews.com/2013/02/28/euro-drops-on-expectations-for-continued-contraction/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
The Japanese yen was surprisingly resilient last month. It is true
that the currency has touched the lowest level in several years
<http://www.topforexnews.com/2013/02/06/yen-bounces-after-touching-multi-year-lows/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
against some majors. The Group of Seven and Group of Twenty meetings
did not prevent the decline
<http://www.topforexnews.com/2013/02/16/g7-g20-meetings-do-not-prevent-yens-decline/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
as politicians did not scold Japan for devaluing its currency. Yet by
the end of the month the currency remained strong
<http://www.topforexnews.com/2013/03/02/yen-posts-weekly-gains-despite-intervention-threat/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
amid the risk-adverse mood. Even the appointment of Haruhiko Kuroda
<http://www.topforexnews.com/2013/02/28/yen-fluctuates-after-abe-appoints-kuroda-as-next-boj-governor/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
as the next Bank of Japan Governor did not spoil the rally too much.
The pound remained weak. The Bank of England minutes
<http://www.topforexnews.com/2013/02/21/pound-maintains-losses-after-boe-minutes/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
and the inflation report
<http://www.topforexnews.com/2013/02/14/pound-drops-after-inflation-report/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
did not help the currency and, in fact, pushed it even lower.
The Australian dollar fell at the beginning of the month as the
Reserve Bank of Australia held interest rates, but suggested
<http://www.topforexnews.com/2013/02/05/aud-weak-after-rba-statement-manages-to-rise-vs-jpy/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
that more easing is possible. The minutes of the meeting confirmed
such view
<http://www.topforexnews.com/2013/02/19/aussie-strong-after-rba-minutes/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
. Yet the currency was supported by the positive employment data
<http://www.topforexnews.com/2013/02/07/aussie-picks-up-as-employment-data-unexpectedly-good/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
and comments of Governor Glenn Stevens
<http://www.topforexnews.com/2013/02/23/comments-of-stevens-lead-to-surge-of-australian-dollar/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
, who suggested that the central bank may pause interest rate cuts.
The New Zealand dollar, on the other hand, was not supported by the
employment report
<http://www.topforexnews.com/2013/02/07/is-nz-dollar-attractive-after-employment-declines/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
and the statement of the Governor Wheeler
<http://www.topforexnews.com/2013/02/20/wheeler-hints-on-intervention-pushing-nz-dollar-down/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
. Employment data
<http://www.topforexnews.com/2013/02/08/loonie-weakened-by-falling-employment/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
and other fundamentals
<http://www.topforexnews.com/2013/02/20/economic-concerns-continue-to-weigh-on-loonie/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
were not supportive for the Canadian dollar either.
Gold had a good start
<http://www.commodityblog.com/commodity-prices-gold/good-us-data-results-in-rally-of-precious-metals?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
at the beginning of February (though platinum was much more
attractive
<http://www.commodityblog.com/commodity-prices-gold/platinum-continues-to-gain-on-gold?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
). Yet later the metal sank below the $1,600 mark
<http://www.commodityblog.com/commodity-prices-gold/gold-dips-below-1600?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
and ended February with the fifth consecutive monthly drop
<http://www.commodityblog.com/commodity-prices-gold/gold-gains-after-fifth-monthly-drop?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
. Despite all of that, analysts do not think that everything is lost
for gold
<http://www.commodityblog.com/commodity-prices-gold/have-traders-seen-end-of-bull-market-for-gold-not-necessarily?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
Interest rate changes in February*
Hungary
5.50%
-0.25%
5.25%
Poland
4.00%
-0.25%
3.75%
Turkey
8.75%
-0.25%
8.50%
*
Top 5 Forex brokers of the last month*
The top 5 Forex brokers, as rated by the visitors of EarnForex.com
<http://www.earnforex.com/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
are the following:
GAINSY
<http://www.earnforex.com/forex-brokers/GAINSY?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— 7.7
FXSystems.com
<http://www.earnforex.com/forex-brokers/FXSystems.com?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— 7.1
ProCFD
<http://www.earnforex.com/forex-brokers/ProCFD?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— 6.9
Forex-Trend
<http://www.earnforex.com/forex-brokers/Forex-Trend?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— 6.3
Loyal Forex
<http://www.earnforex.com/forex-brokers/LoyalForex?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— 6.2
To qualify for the position in this top 5 rating a Forex broker should
have at least 5 votes. Don't forget to rate your favorite broker
<http://www.earnforex.com/forex-brokers/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
if you haven't done so already.
*
Forex e-books*
No new Forex books have been published on EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously
uploaded books
<http://www.earnforex.com/forex-e-books/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
Forex articles*
No new Forex articles have been published on EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously
uploaded articles
<http://www.earnforex.com/forex-articles?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
Forex brokers*
Three new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
MFC Investment
<http://www.earnforex.com/forex-brokers/MFCInvestment?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— a German Forex broker with MT4 ECN accounts ($1,000 minimum size)
and 1:200 leverage limit on currencies.
NatureForex
<http://www.earnforex.com/forex-brokers/NatureForex?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— a Vietnamese company with $10 minimum account size, 1:500 maximum
leverage and MetaTrader 4 trading platform.
Capital One Forex
<http://www.earnforex.com/forex-brokers/CapitalOneForex?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
— another MT4 Forex broker; it is regulated in New Zealand. The
minimum account size is $25. Islamic accounts are available too.
You can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
Forex VPS providers*
No new Forex VPS providers have been added to EarnForex.com
since the last issue of the newsletter, but you can always browse the
previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
MetaTrader indicators*
No new MetaTrader indicators have been added to EarnForex.com
since the last issue of the newsletter but we have significantly
improved our
position size calculator:
Position Size Calculator
<http://www.earnforex.com/metatrader-indicators/Position-Size-Calculator?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
You can always view the previously
uploaded
Forex indicators
<http://www.earnforex.com/metatrader-indicators?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
MetaTrader expert advisors*
No new expert advisors have been added to EarnForex.com since
the last newsletter issue but you can always browse the previously
added
MetaTrader EAs
<http://www.earnforex.com/metatrader-expert-advisors/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
:
Do You Use More High/Low or Open/Close Values?
<http://www.earnforex.com/blog/2013/02/highlow-vs-openclose-in-forex/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
Do You Have a MetaTrader 5 Live Account?
<http://www.earnforex.com/blog/2013/02/metatrader-5-in-your-live-forex-account/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
from
EarnForex.com.
*
Forex strategies*
No new Forex strategies have been added to EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously added
Forex strategies
<http://www.earnforex.com/forex-strategy/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
started in February:
Daily Technical Analysis For February By ACM Gold
<http://www.earnforex.com/forum/f24/daily-technical-analysis-february-acm-gold-12346/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
Is Forex really easy?
<http://www.earnforex.com/forum/f4/forex-really-easy-12545/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
Daily Market Outlook by Kate Curtis from Trader's Way
<http://www.earnforex.com/forum/f6/daily-market-outlook-kate-curtis-traders-way-12477/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
Daily Technical Analysis by Kate Curtis from Trader's Way
<http://www.earnforex.com/forum/f7/daily-technical-analysis-kate-curtis-traders-way-12468/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
What do you think from strategy whithout stop loss?
<http://www.earnforex.com/forum/f4/what-do-you-think-strategy-whithout-stop-loss-12378/?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
Liquid Markets
<http://www.earnforex.com/forex-brokers/LiquidMarkets?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
launches cTrader accounts and opens office in Portugal.
GCI
<http://www.earnforex.com/forex-brokers/GCI?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
launches a binary trading platform.
Pepperstone
<http://www.earnforex.com/forex-brokers/Pepperstone?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
opens office in Shanghai (China).
FX Solutions
<http://www.earnforex.com/forex-brokers/FXSOL?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
leaves US retail FX market; customers moved to Forex.com
<http://www.earnforex.com/forex-brokers/Forex.com?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
Saxo Bank
<http://www.earnforex.com/forex-brokers/Saxobank?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
now offers trading through MT4 platform.
*
Until the next newsletter issue!*
That's all for the March issue of the EarnForex.com
newsletter. If you have questions, comments or just want to see
something else
in the next monthly issue, please let us know
<http://www.earnforex.com/contact?utm_source=n201303&utm_medium=web&utm_campaign=n201303>
.
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