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EarnForex.com Monthly Newsletter
*July 2, 2013*
Welcome to the latest issue of EarnForex.com newsletter — July
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 June*
*EUR/USD* — posted an inverted V shape in June, rising during the
first half and falling through the second one. It was at the maximum
at 1.3416 on June 19, at its minimum at 1.2955 on June 3, finishing
the month at 1.3007.
*GBP/USD* — behaved similarly to EUR/USD. The highest monthly rate
was at 1.5751 on June 17, while the lowest — at 1.5165 on June 28.
GBP/USD finished June trading at 1.5211.
*USD/JPY* — unlike USD-based pairs demonstrated a real V-pattern in
June. The pair rose to as high as 100.72 on June 3, reaching a bottom
at 93.79 on June 13 and closing the month with the 99.12 rate.
*EUR/JPY* — traded mostly sideways. The monthly high was at 131.40
on June 4, the monthly low — at 124.96 on June 13. Trading ended at
128.94 for this currency pair.
*GBP/JPY* — showed nearly the same curve as EUR/JPY. The maximum
level for this pair was 154.23 on June 11, while the minimum —
147.10 on June 13. The month's trading ended at 150.78 for GBP/JPY.
*
Fundamental background of the past month*
A potential tampering of Federal Reserve quantitative easing was the
major theme on the Forex market in June. At first, traders were unsure
if the Fed will indeed wants to scale back stimulus. The relatively
weak ADP employment report
<http://www.topforexnews.com/2013/06/05/us-dollar-struggles-following-weak-jobs-data/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
strengthened such doubts. Non-farm payrolls
<http://www.topforexnews.com/2013/06/07/greenback-gets-upper-hand-on-payrolls-data/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
made investors less doubtful about such possibility even as the data
was rather mixed. And then the Fed and Chairman Ben Bernanke spoke and
the market fell into disarray. Speculators interpreted the comments as
signs that a reduction of accommodative measures is indeed near and
the dollar surged as a result
<http://www.topforexnews.com/2013/06/20/bernanke-announcement-prompts-us-dollar-rally/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
, while other currencies sank. Policy makers tried to downplay worries
about QE end
<http://www.topforexnews.com/2013/06/27/dollar-mixed-as-policy-makers-say-qe-end-is-not-near/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
, saying that it is not near, but their efforts did not affect the
greenback to a great degree.
The euro rallied briefly after the European Central Bank suggested
<http://www.topforexnews.com/2013/06/06/ecb-makes-euro-stronger/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
that the eurozone economy is on track to recovery, but the gains did
not hold long
<http://www.topforexnews.com/2013/06/07/euro-pulls-back-after-yesterdays-bounce/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
. The German court was judging
<http://www.topforexnews.com/2013/06/11/euro-trades-mixed-with-all-eyes-on-germany/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
if the ECB policies are constitutional, but it is not likely that a
decision will be reached anytime soon. The shared 17-nation currency
dropped
<http://www.topforexnews.com/2013/06/19/euro-loses-to-dollar-after-fed-meeting-remains-firm-against-other-majors/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
, as well as other currencies, after Bernanke suggested that stimulus
may scaled down.
The yen had a very good start of the month as at first Japanese policy
makers did not showed willingness to continue with their aggressive
moves
<http://www.topforexnews.com/2013/06/07/yen-gains-as-aso-says-no-intervention-needed/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
to weaken the currency and then the Bank of Japan refrained from
additional stimulus
<http://www.topforexnews.com/2013/06/11/boj-leaves-monetary-policy-unchanged-yen-jumps/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
. Yet the currency halted the rally and, surprisingly enough, was
falling
<http://www.topforexnews.com/2013/06/25/yen-halts-decline-unable-to-rally/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
even as risk aversion was plaguing the market.
As one could expect, commodity currencies suffered during the month
that was marked by uncertainty and fears. The Canadian dollar fell
even as the Bank of Canada (which received a new leader) remained
inclined to raising interest rates in the future
<http://www.topforexnews.com/2013/06/06/cad-rallies-as-poloz-reiterates-interest-rate-hike-probable/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
. Of course, the Australian
<http://www.topforexnews.com/2013/06/18/rba-minutes-show-scope-for-additional-stimulus-aud-down/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
and New Zealand
<http://www.topforexnews.com/2013/06/13/nz-dollar-weaker-after-rbnz-meeting/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
dollars had no such support, and it was not a surprise that the
currencies were soft in June.
Gold continued to lose value with troubling pace. It fell below the
psychologically important $1,200 level
<http://www.commodityblog.com/gold-plunges-below-1200-to-record-low-in-three-years/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
and reached the lowest level in three years.
*
Interest rate changes in June*
*Hungary*
4.50%
-0.25%
4.25%
*Indonesia*
5.75%
+0.25%
6.00%
*Poland*
3.00%
-0.25%
2.75%
*
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
FreshForex
<http://www.earnforex.com/forex-brokers/FreshForex?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
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:
Commodity Channel Index: A Versatile Indicator
<http://www.earnforex.com/articles/commodity-channel-index-versatile-indicator?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*
Two new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
MW
<http://www.earnforex.com/forex-brokers/MW?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— an unregulated UK/Seychelles company, whose website has been
launched only recently. They offer both MT4 and MT5 accounts and
trading can be started with as little as $1.
Alpha Trading
<http://www.earnforex.com/forex-brokers/AlphaTrading?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
— a company without reputation and clearly stated country of
residence. Their minimum account size is $1,000. The only offered
platform is MetaTrader 4 and the only trading instrument type
available is currency pairs.
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*
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=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*
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=n201306&utm_medium=web&utm_campaign=n201306>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
:
What Are Your Short-Term Trading Goals?
<http://www.earnforex.com/blog/what-are-your-short-term-trading-goals/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
What Forex Calendars Do You Use?
<http://www.earnforex.com/blog/which-forex-calendars-to-use/?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 June:
How many hours per day to you trade?
<http://www.earnforex.com/forum/f4/how-many-hours-per-day-you-trade-13851/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
Who's Having Trouble Making Money?
<http://www.earnforex.com/forum/f4/whos-having-trouble-making-money-13793/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
New Member - Hello - Play trading
<http://www.earnforex.com/forum/f26/new-member-hello-play-trading-13955/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
Which Time Frame is good for everybody??
<http://www.earnforex.com/forum/f4/time-frame-good-everybody-13906/?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
Set Pips Targets?
<http://www.earnforex.com/forum/f4/set-pips-targets-13842/?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:
Capital CFDs broker is now out of business.
FXOpen
<http://www.earnforex.com/forex-brokers/FXOpen?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
stopped offering its FASS (MirrorTrader) accounts as MetaQuotes
<http://www.metaquotes.net/>
restricts the use of MetaTrader
protocols.
CySEC <http://www.cysec.gov.cy/>
fines Trading Point of
Financial Instruments Ltd. (an operating company behind
XEMarkets
<http://www.earnforex.com/forex-brokers/XEMarkets?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
)
for a total of €10,000
<http://www.cysec.gov.cy/Downloads/Greek/Announcements/2013/%CE%93%CE%B5%CE%BD%CE%B9%CE%BA%CE%AD%CF%82/%CE%91%CE%BD%CE%B1%CE%BA%CE%BF%CE%AF%CE%BD%CF%89%CF%83%CE%B7%2006%2021%202013%20%CF%83%CF%87%CE%B5%CF%84%CE%B9%CE%BA%CE%AC%20%CE%BC%CE%B5%20%CE%B5%CF%80%CE%B9%CE%B2%CE%BF%CE%BB%CE%AE%20%CF%80%CF%81%CE%BF%CF%83%CF%84%CE%AF%CE%BC%CE%BF%CF%85%20%CF%83%CF%84%CE%B7%CE%BD%20Trading%20Point.pdf>
for non-compliance with the organizational requirements and failing to
exercise
proper anti-money laundering procedures.
The same regulator also settles with LQD Markets
<http://www.earnforex.com/forex-brokers/LQDMarkets?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
on €80,000
<http://www.cysec.gov.cy/Downloads/English/Announcements/2013/General/Announcement%2006.25.2013%20regarding%20settlement%20reached%20with%20LQD%20Markets%20Ltd%20(exTadawul%20Fx%20Ltd).pdf>
for offering investment services via unauthorized third parties (IBs,
allegedly).
IronFX
<http://www.earnforex.com/forex-brokers/IronFX?utm_source=n201306&utm_medium=web&utm_campaign=n201306>
becomes regulated by Financial Conduct
Authority <http://www.fca.org.uk/>
(#585561).
*
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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