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EarnForex.com Monthly Newsletter
*May 1, 2013*
Welcome to the latest issue of EarnForex.com newsletter — May 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 April*
*EUR/USD* — after a rapid rally during the first decade of the
month, the pair traded sideways until the end of it. It was at the
maximum at 1.3201 on April 16, at its minimum at 1.2746 on April 4,
finishing the month at 1.3167.
*GBP/USD* — continued to trade inside an ascending channel
<http://www.earnforex.com/blog/classic-ascending-channel-on-daily-cable-chart/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
during April. The highest monthly rate was at 1.5569 on April 30,
while the lowest — at 1.5033 on April 4. GBP/USD finished April
trading at 1.5531.
*USD/JPY* — rallied during the first few days of April, stalling
later with an intermittent decline of half of the previous monthly
gain. The pair rose to as high as 99.94 on April 11, reaching a bottom
at 92.56 on April 2 and closing the month with the 97.42 rate.
*EUR/JPY* — behaved quite similarly to the USD/JPY. The monthly high
was at 131.12 on April 11, the monthly low — at 119.11 on April 3.
Trading ended at 128.27 for this currency pair.
*GBP/JPY* — resembled the movement of other JPY-based currency pairs
during April. The maximum level for this pair was 153.86 on April 11,
while the minimum — 140.38 on April 4. The month's trading ended at
151.32 for GBP/JPY.
*
Fundamental background of the past month*
April was not good for the US dollar as risk appetite drove investors
to abandon the currency and turn to higher-yielding assets. Even talks
about withdrawal of monetary stimulus by the Federal Reserve did not
affect the greenback much
<http://www.topforexnews.com/2013/04/11/dollar-little-affected-by-fomc-minutes-usdjpy-unable-to-reach-100/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
. USD/JPY struggled to break the important psychological level of 100,
but was unable to do so. The dollar was also weakened by
worse-than-expected fundamentals in the United States, including gross
domestic product
<http://www.topforexnews.com/2013/04/26/gdp-data-sends-us-dollar-lower-against-major-counterparts/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
.
The euro was under pressure from negative data both domestically
<http://www.topforexnews.com/2013/04/02/euro-a-little-lower-on-record-unemployment/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
and overseas
<http://www.topforexnews.com/2013/04/16/euro-steady-after-yesterdays-drop/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
. Yet the currency profited from the poor reports from the USA and
retains its strength
<http://www.topforexnews.com/2013/04/30/euro-retains-lead-on-major-counterparts/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
as of now.
The Great Britain pound was strong in April as virtually all factors
were in favor of the currency: the Bank of England monetary decision
<http://www.topforexnews.com/2013/04/04/sterling-surges-on-boe-policy-decision-services-growth/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
, rising inflation
<http://www.topforexnews.com/2013/04/16/pound-rises-as-inflation-remains-above-boe-target/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
, concerns about the eurozone
<http://www.topforexnews.com/2013/04/24/pound-gains-on-europes-woes-trims-rally-vs-euro/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
, and most importantly the fact that the UK economy emerged from
recession
<http://www.topforexnews.com/2013/04/25/britain-avoids-triple-dip-recession-pound-rallies/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
. There was some bad news too, but they did not influence the sterling
<http://www.topforexnews.com/2013/04/30/falling-consumer-confidence-does-not-affect-pound-much/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
for the most part.
The Japanese yen was soft as the Bank of Japan introduced an easing
plan
<http://www.topforexnews.com/2013/04/04/yen-drops-as-boj-announces-new-easing-plan/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
that was even more aggressive than was anticipated by market
participants. The Group of Twenty did not scold
<http://www.topforexnews.com/2013/04/19/g-20-does-not-blame-japan-for-weakening-yen/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
the nation for its behavior, leading to further losses for the
currency. The yen was also under pressure from anticipation of
stimulus
<http://www.topforexnews.com/2013/04/24/yen-weakens-as-traders-hope-for-more-stimulus-from-central-banks/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
from central banks of developed nations. The BoJ disappointed
<http://www.topforexnews.com/2013/04/24/yen-weakens-as-traders-hope-for-more-stimulus-from-central-banks/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
traders by the end of April, refraining from additional easing and
allowing the Japanese currency to bounce
<http://www.topforexnews.com/2013/04/30/japanese-yen-gains-ground/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
.
Australian fundamentals were good
<http://www.topforexnews.com/2013/04/04/aussie-gains-on-good-domestic-data/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
, while Canadian data was bad
<http://www.topforexnews.com/2013/04/05/cad-slumps-as-fundamentals-look-terrible-rises-vs-jpy/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
, yet the Australian and Canadian dollars performed counterintuitive
as the former fell and the latter rose over the month. The New Zealand
dollar was firm in April as the Reserve Bank of New Zealand not only
kept interest rates unchanged
<http://www.topforexnews.com/2013/04/24/nz-dollar-soars-as-rbnz-refrains-from-cutting-interest-rates/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
, but said that no rate cut is likely for the rest of the year.
Gold posted its biggest daily drop in 33 years
<http://www.commodityblog.com/gold-posts-record-drop-in-33-years-silver-also-suffers/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
. The currency was rising
<http://www.commodityblog.com/gold-climbs-on-rising-physical-demand/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
since than, but was unable to erase the huge loss and analysts are
worried that the rally may falter.
*
Interest rate changes in April*
*Brazil*
7.25%
+0.25%
7.50%
*Hungary*
5.00%
-0.25%
4.75%
*Turkey*
7.50%
-0.50%
7.00%
*
Top 5 Forex brokers of the last month*
The top 5 Forex brokers, as reviewed by the visitors of EarnForex.com
<http://www.earnforex.com/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
are the following:
HY Markets
<http://www.earnforex.com/forex-brokers/HYMarkets?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— 10
Armada Markets
<http://www.earnforex.com/forex-brokers/ArmadaMarkets?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— 10
Tradenext
<http://www.earnforex.com/forex-brokers/Tradenext?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— 10
3TG FX
<http://www.earnforex.com/forex-brokers/3TGFX?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— 10
ProCFD
<http://www.earnforex.com/forex-brokers/ProCFD?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— 10
To qualify for the position in this list, a Forex broker should have
at least 3 qualified reviews. Do not forget to review your favorite
broker
<http://www.earnforex.com/forex-brokers/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
if you have not done so already.
*
Forex e-books*
One new Forex book has been published on EarnForex.com since
the last issue of the newsletter:
Using Recurrent Neural Networks to Forecasting of Forex
<http://www.earnforex.com/forex-e-books/advanced-forex-trading/Using%20Recurrent%20Neural%20Networks%20to%20Forecasting%20of%20Forex.pdf>
by V. V. Kondratenko and Yu. A. Kuperin
You can always browse the previously
uploaded books
<http://www.earnforex.com/forex-e-books/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
.
*
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=n201305&utm_medium=web&utm_campaign=n201305>
.
*
Forex brokers*
Two new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
Sensus Capital
<http://www.earnforex.com/forex-brokers/SensusCapital?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— a Maltese company that provides MetaTrader 4 and MetaTrader 5
trading starting with $2,500. Forex leverage is maxed at 1:200.
Weltrade
<http://www.earnforex.com/forex-brokers/Weltrade?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— a CIS-based Forex broker with $20 minimum account size and 3
trading platforms: MT4, MT5 and cTrader
<http://www.earnforex.com/blog/ctrader-platform/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
. Leverage can be as high as 1:500 for currencies.
You can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
.
*
Forex VPS providers*
One new Forex VPS provider has been added to EarnForex.com
since the last issue of the newsletter:
Webline Services
<http://www.earnforex.com/forex-vps-hosting/WeblineServices?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
— a place to get US-based VPS server with pre-installed MT4/MT5
platform. Forex packages start at $24.99/month.
You can always browse the previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
.
*
MetaTrader indicators*
One new MetaTrader indicator has been added to EarnForex.com
since the last issue of the newsletter:
Recent High/Low Alert
You can always view the previously
uploaded
Forex indicators
<http://www.earnforex.com/metatrader-indicators/Recent-High-Low-Alert?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
.
*
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=n201305&utm_medium=web&utm_campaign=n201305>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
:
Do You Prefer Indicators with Alerts or Without Alerts?
<http://www.earnforex.com/blog/indicators-with-alerts-or-without-alerts/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
Do You Receive Interest Rate on Trading Account Balance?
<http://www.earnforex.com/blog/interest-rate-on-fx-trading-account-balance-poll/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
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=n201305&utm_medium=web&utm_campaign=n201305>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
started in April:
Is there a good way we can Stop Losing money?
<http://www.earnforex.com/forum/f4/there-good-way-we-can-stop-losing-money-13177/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
Daily Financial News & Fundamental Analysis
<http://www.earnforex.com/forum/f6/daily-financial-news-fundamental-analysis-13051/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
TRADING WITH BLACKBERRY
<http://www.earnforex.com/forum/f4/trading-blackberry-13180/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
Correlation between several pairs - anyone ever tried?
<http://www.earnforex.com/forum/f9/correlation-between-several-pairs-anyone-ever-tried-13105/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
What is better technical anylisis or forex news trading?
<http://www.earnforex.com/forum/f4/what-better-technical-anylisis-forex-news-trading-13044/?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
Interactive Brokers
<http://www.earnforex.com/forex-brokers/InteractiveBrokers?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
was fined <http://www.cftc.gov/PressRoom/PressReleases/pr6560-13>
by
CFTC for messing with the clients' segregated accounts.
The UK regulator FSA <http://www.fsa.gov.uk/>
becomes two
separate authorities: the Financial Conduct
Authority <http://www.fca.org.uk/>
and Prudential Regulation Authority (a part of Bank of England
<http://www.bankofengland.co.uk/>
).
IG
Markets becomes the first major Forex broker to offer trading in
Bitcoin
<http://www.earnforex.com/forex-brokers/IGMarkets?utm_source=n201305&utm_medium=web&utm_campaign=n201305>
, albeit in a form of binary options.
*
Until the next newsletter issue!*
That's all for the May 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=n201305&utm_medium=web&utm_campaign=n201305>
.
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