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EarnForex.com Monthly Newsletter
*June 4, 2013*
Welcome to the latest issue of EarnForex.com newsletter — June
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 May*
*EUR/USD* — declined through May, recovering some of its losses
during the last days of the month. It was at the maximum at 1.3242 on
May 1, at its minimum at 1.2796 on May 17, finishing the month at
1.2995.
*GBP/USD* — moved similarly to EUR/USD, but the drop was much
deeper. The highest monthly rate was at 1.5607 on May 1, while the
lowest — at 1.5008 on May 29. GBP/USD finished May trading at
1.5193.
*USD/JPY* — rose through the first 3 weeks and declined during the
final days. The pair rose to as high as 103.73 on May 22, reaching a
bottom at 97.02 on May 1 and closing the month with the 100.48 rate.
*EUR/JPY* — went mostly sideways in May after a minor rally in the
month's beginning. The monthly high was at 133.81 on May 22, the
monthly low — at 127.50 on May 2. Trading ended at 130.54 for this
currency pair.
*GBP/JPY* — rose and fall in May, posting a visible bump pattern on
its daily chart. The maximum level for this pair was 156.77 on May 13,
while the minimum — 150.85 on May 1. The month's trading ended at
152.67 for GBP/JPY.
*
Fundamental background of the past month*
May was a really good month for the US dollar as speculations about an
end to Federal Reserve's quantitative easing boosted the currency
greatly. Initially, comments of policy makers were unclear and
confusing
<http://www.topforexnews.com/2013/05/22/dollar-volatile-as-bernkanke-speaks/>
. Yet market participants preferred to interpret them as confirmation
of QE end, resulting in risk aversion
<http://www.topforexnews.com/2013/05/24/us-dollar-heads-higher-as-risk-aversion-reappears/>
. By the end of the month, though, the string of worse-than-expected
data from the United States made such view questionable.
<http://www.topforexnews.com/2013/06/04/dollar-drops-as-economic-data-suggests-extension-of-qe/>
The euro suffered
<http://www.topforexnews.com/2013/05/02/euro-drops-following-ecb-decision-and-draghi-comments/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
from an interest rate cut by the European Central Bank and
speculations about negative deposit rates. Poor fundamentals
<http://www.topforexnews.com/2013/05/31/euro-lower-as-unemployment-reaches-another-high/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
did not help the currency either.
Britain's fundamentals
<http://www.topforexnews.com/2013/05/04/positive-fundamentals-lead-to-week-of-strength-for-sterling/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
suggested that the UK economy is indeed on track to recovery. Yet
even favorable economic data
<http://www.topforexnews.com/2013/05/14/pound-declines-despite-favorable-fundamentals/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
and the Bank of England's policy decision
<http://www.topforexnews.com/2013/05/09/pound-weak-vs-dollar-even-as-boe-maintains-monetary-policy-stable/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
did not make the past month good for the pound as the currency was
weakening.
Speculations
<http://www.topforexnews.com/2013/05/28/yen-declines-on-outlook-for-continuing-monetary-accommodation/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
about continuing accommodative monetary policy kept the yen weak.
Risk aversion allowed the currency to rise
<http://www.topforexnews.com/2013/05/29/yen-profits-from-signs-of-global-slowdown/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
from time to time, but the yen remained soft nonetheless.
The Swiss franc was also weak and comments
<http://www.topforexnews.com/2013/05/22/swiss-franc-drops-as-jordan-speaks-about-negative-interest-rates-franc-cap/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
of Swiss National Bank President Thomas Jordan were not helpful
either.
Stronger US currency led to fall of commodities and decline of
currencies related to raw materials. The Canadian dollar was falling
with commodities
<http://www.topforexnews.com/2013/05/24/loonie-closes-lower-as-commodities-decline/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
and even the favorable Bank of Canada's monetary decision
<http://www.topforexnews.com/2013/05/29/canadian-dollar-stronger-after-last-carneys-boc-meeting/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
did not support
<http://www.topforexnews.com/2013/06/01/positive-fundamentals-did-not-help-cad-this-week/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
the currency much.
The Australian dollar was also soft due to commodity prices
<http://www.topforexnews.com/2013/05/31/aussie-drops-as-commodities-continue-to-struggle/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
, but the currency's drop was especially huge because of an unexpected
interest rate cut
<http://www.topforexnews.com/2013/05/11/rba-rate-cut-makes-week-bad-for-aussie/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
.
Gold continued to fall, breaking below the $1,400 level
<http://www.commodityblog.com/gold-trades-below-1400/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
, but paused the decline
<http://www.commodityblog.com/gold-oil-rally-as-us-fundamentals-disappoint/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
in the second half of the month as US fundamental data weakened the
greenback.
*
Interest rate changes in May*
*Australia*
3.00%
-0.25%
2.75%
*Brazil*
7.50%
+0.50%
8.00%
*Denmark*
0.30%
-0.10%
0.20%
*Eurozone*
0.75%
-0.25%
0.50%
*Hungary*
4.75%
-0.25%
4.50%
*Israel*
1.75%
-0.50%
1.25%
*Poland*
3.25%
-0.25%
3.00%
*Republic of India*
8.50%
-0.25%
8.25%
*South Korea*
2.75%
-0.25%
2.50%
*Thailand*
2.75%
-0.25%
2.50%
*Turkey*
7.00%
-0.50%
6.50%
*
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=n201306&utm_medium=web&utm_campaign=n201306>
are the following:
HY Markets
<http://www.earnforex.com/forex-brokers/HYMarkets?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— 10
Armada Markets
<http://www.earnforex.com/forex-brokers/ArmadaMarkets?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— 10
FreshForex
<http://www.earnforex.com/forex-brokers/FreshForex?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— 10
Tradenext
<http://www.earnforex.com/forex-brokers/Tradenext?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— 10
3TG FX
<http://www.earnforex.com/forex-brokers/3TGFX?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— 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=n201306&utm_medium=web&utm_campaign=n201306>
if you have not 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=n201306&utm_medium=web&utm_campaign=n201306>
.
*
Forex articles*
One new Forex article has been published on EarnForex.com since
the last issue of the newsletter:
Average True Range (ATR)
<http://www.earnforex.com/articles/average-true-range?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
You can always browse the previously
uploaded articles
<http://www.earnforex.com/forex-articles?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
.
*
Forex brokers*
Four new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
ZlatFX
<http://www.earnforex.com/forex-brokers/ZlatFX?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— a Russian broker with Hong Kong registration, MetaTrader 4
platform and $100 minimum account size.
ATIG Securities
<http://www.earnforex.com/forex-brokers/ATIGSecurities?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— an unregulated Turkish company with MetaTrader 4 and $20 minimum
account size.
COMMEXFX
<http://www.earnforex.com/forex-brokers/COMMEXFX?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— a Cypriot company, which is regulated not only by CySEC but also
by FCA and other European regulators. Offers cTrader, MT4 and $200 ECN
accounts.
ForexOptimum
<http://www.earnforex.com/forex-brokers/ForexOptimum?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— another Russian MT4 Forex broker with an easy start — they
require only $10 to start trading.
You can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
.
*
Forex VPS providers*
One new Forex VPS provider has been added to EarnForex.com
since the last issue of the newsletter:
Forex Cloud Servers
<http://www.earnforex.com/forex-vps-hosting/ForexCloudServers?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— a specialized Forex VPS company ran by MetaTrader programmers.
Their basic package price is quite high at $50/month.
You can always browse the previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
.
*
MetaTrader indicators*
No new MetaTrader indicators have been added to EarnForex.com
since the last issue of the newsletter, but you can always view the
previously
uploaded
Forex indicators
<http://www.earnforex.com/metatrader-indicators?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
.
*
MetaTrader expert advisors*
One new expert advisors have been added to EarnForex.com since
the last newsletter issue:
Ichimoku Chinkou Cross
<http://www.earnforex.com/metatrader-expert-advisors/Ichimoku-Chinkou-Cross>
You can always browse the previously added
MetaTrader EAs
<http://www.earnforex.com/metatrader-expert-advisors/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
.
*
Forex polls*
Three new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
:
Where Will EUR/CHF End Its Trading in 2013?
<http://www.earnforex.com/blog/what-will-become-of-eurchf-after-ecb-rate-cut/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
What Execution Model Does Your Broker Use?
<http://www.earnforex.com/blog/do-you-know-your-brokers-forex-execution-mode/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
Has Liberty Reserve Shutdown Influenced Your Trading?
<http://www.earnforex.com/blog/has-liberty-reserve-shutdown-influenced-your-trading/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
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=n201306&utm_medium=web&utm_campaign=n201306>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
started in May:
Have you ever played a Forex Hold'em tournament?
<http://www.earnforex.com/forum/f4/have-you-ever-played-forex-holdem-tournament-13474/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
fund managed service
<http://www.earnforex.com/forum/f4/need-fund-managed-service-13604/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
Newbiee
<http://www.earnforex.com/forum/f26/newbiee-13404/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
Why do Forex Traders Lose Money
<http://www.earnforex.com/forum/f4/why-do-forex-traders-lose-money-13606/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
how many brokers do you use
<http://www.earnforex.com/forum/f10/how-many-brokers-do-you-use-13510/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
Alpari
<http://www.earnforex.com/forex-brokers/Alpari?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
has left New Zealand regulatory environment.
Easy-Forex
<http://www.earnforex.com/forex-brokers/Easy-Forex?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
launches its own online options trading platform.
MB Trading
<http://www.earnforex.com/forex-brokers/MBTrading?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
fined for $200,000 by CFTC
<http://www.cftc.gov/PressRoom/PressReleases/pr6588-13>
for
violating minimum capital requirement rule on several occasions.
eToro
<http://www.earnforex.com/forex-brokers/eToro?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
becomes regulated by British FCA <http://www.fca.org.uk/>
(former
FSA).
RoboForex
<http://www.earnforex.com/forex-brokers/RoboForex?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
is now licensed by CySEC <http://www.cysec.gov.cy/>
(a Cypriot
financial regulatory institution).
Mayzus
<http://www.earnforex.com/forex-brokers/Mayzus?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
now accepts
QIWI
<http://www.forexbrokernews.com/mayzus/mayzus-introduces-new-payment-system/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
payment system for account funding.
Liberty Reserve payment system has been shut
down
<http://www.ticotimes.net/More-news/News-Briefs/Costa-Rican-arrested-in-Spain-for-alleged-financial-crimes_Friday-May-24-2013>
by the USA and its owner has been arrested. All Forex brokers have
stopped accepting Liberty Reserve as their payment method.
*
Until the next newsletter issue!*
That's all for the June 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=n201306&utm_medium=web&utm_campaign=n201306>
.
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