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EarnForex.com Monthly Newsletter
*August 6, 2013*
Welcome to the latest issue of EarnForex.com newsletter — August
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 July*
*EUR/USD* — following a few days of serious weakness, the pair was
in a strong rally till the end of the month. It was at the maximum at
1.3344 on July 31, at its minimum at 1.2755 on July 9, finishing the
month at 1.3301.
*GBP/USD* — was less lucky than EUR/USD and broke the rally on July
25, entering a significant correction afterwards. The highest monthly
rate was at 1.5434 on July 25, while the lowest — at 1.4813 on July
9. GBP/USD finished July trading at 1.5207.
*USD/JPY* — entered a rather slow declining channel in July. The
pair rose to as high as 101.53 on July 8, reaching a bottom at 97.58
on July 31 and closing the month with the 97.87 rate.
*EUR/JPY* — mirrored USD/JPY trading by showing a slowly rising
ascending channel. The monthly high was at 132.74 on July 24, the
monthly low — at 128.01 on July 10. Trading ended at 130.16 for this
currency pair.
*GBP/JPY* — traded sideways with significant peaks and troughs. The
maximum level for this pair was 154.05 on July 24, while the minimum
— 148.29 on July 31. The month's trading ended at 148.81 for
GBP/JPY.
*
Fundamental background of the past month*
The US dollar was heading higher at the start of July as robust growth
of non-farm payrolls
<http://www.topforexnews.com/2013/07/05/nonfarm-payrolls-bring-dollar-higher/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
sparked speculations that the Federal Reserve will trim its stimulus.
Such talks receded after Fed Chairman Ben Bernanke said
<http://www.topforexnews.com/2013/07/11/us-dollar-plunges-on-bernanke-remarks/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
that quantitative easing will remain in place for a time being,
sending the greenback down. Yet speculations resurfaced by the end of
the month even as the Fed kept dovish tone
<http://www.topforexnews.com/2013/08/01/fed-keeps-stimulus-dollar-remains-firm/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
. The dollar surged on anticipation of stimulus reduction, but plunged
after another non-farm payrolls report came out noticeably worse than
was expected
<http://www.topforexnews.com/2013/08/02/dollar-drops-on-worse-than-expected-non-farm-payrolls/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
. The US currency ended the month lower against most majors.
The euro dipped at the start of last month as the European Bank
suggested
<http://www.topforexnews.com/2013/07/04/euro-rallies-after-ecb/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
that interest rates will stay low for a long time. The currency was
heading higher for the most part of the month as fundamental reports
were generally good
<http://www.topforexnews.com/2013/07/30/euro-firm-on-german-consumer-confidence-bailout-for-greece/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
. Yet the shared 17-nation currency of the eurozone struggled after
the ECB reiterated its view
<http://www.topforexnews.com/2013/08/01/eurusd-dips-as-ecb-holds-rates/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
about borrowing costs staying low for a prolonged period. EUR/USD
jumped 2.1 percent in July.
Moves of Japanese yen were turbulent in July. The currency fell ahead
of parliamentary elections
<http://www.topforexnews.com/2013/07/19/yen-falls-ahead-of-parliamentary-elections/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
, yet gained afterwards
<http://www.topforexnews.com/2013/07/26/abenomics-spurs-gains-for-the-japanese-yen/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
even though the outcome was exactly the same as traders had expected.
The Great Britain pound fell in July against most majors despite
fundamentals that were good
<http://www.topforexnews.com/2013/08/03/weekly-losses-of-sterling-limited-by-positive-fundamentals/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
for the most part. The currency slipped as the Bank of England
maintained very accommodative monetary policy
<http://www.topforexnews.com/2013/07/04/pound-sinks-after-boe-maintains-interest-rates-record-low/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
, but climbed after minutes of the meeting showed that BoE no longer
view QE as a best tool for revival of the economy
<http://www.topforexnews.com/2013/07/17/pound-jumps-on-falling-jobless-claims-boe-minutes/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
. The sterling remained firm even after the central bank kept policy
unchanged yet again
<http://www.topforexnews.com/2013/08/01/pound-climbs-as-boe-maintains-policy-manufacturing-expands/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
in August. Still, the currency lost to the euro 0.6 percent over the
month.
Central banks of Canada
<http://www.topforexnews.com/2013/07/17/bank-of-canada-releases-dovish-statement-loonie-drops/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
, Australia
<http://www.topforexnews.com/2013/07/02/australian-dollar-falls-as-rba-maintains-dovish-bias/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
and New Zealand
<http://www.topforexnews.com/2013/06/13/nz-dollar-weaker-after-rbnz-meeting/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
also kept their policies unchanged, but were rather dovish. Yet the
Canadian dollar managed to rally, while the Australian and New Zealand
currencies crashed.
Gold rallied in July, demonstrating a best weekly gain in two years
<http://www.commodityblog.com/gold-to-close-one-of-its-best-weeks-in-years/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
, after falling for the three consecutive months (the worst quarter in
almost a century
<http://www.commodityblog.com/gold-rallies-after-worst-quarter-in-century-silver-follows/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
). The gain was not as big as the previous losses, but at least it
brought some relief to gold bulls that were suffering for a long time.
*
Interest rate changes in July*
*Brazil*
8.00%
+0.50%
8.50%
*Hungary*
4.25%
-0.25%
4.00%
*Indonesia*
6.00%
+0.50%
6.50%
*Latvia*
2.50%
-0.50%
2.00%
*Poland*
2.75%
-0.25%
2.50%
*Republic of India*
8.25%
+2.00%
10.25%
*Romania*
5.25%
-0.25%
5.00%
*Singapore*
0.18%
-0.01%
0.17%
*Turkey*
6.50%
+0.75%
7.25%
*
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=n201308&utm_medium=web&utm_campaign=n201308>
are the following:
HY Markets
<http://www.earnforex.com/forex-brokers/HYMarkets?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
— 10
FreshForex
<http://www.earnforex.com/forex-brokers/FreshForex?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
— 10
Armada Markets
<http://www.earnforex.com/forex-brokers/ArmadaMarkets?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
— 10
Tradenext
<http://www.earnforex.com/forex-brokers/Tradenext?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
— 10
3TG FX
<http://www.earnforex.com/forex-brokers/3TGFX?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
— 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=n201308&utm_medium=web&utm_campaign=n201308>
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=n201308&utm_medium=web&utm_campaign=n201308>
.
*
Forex articles*
Three new Forex articles have been published on EarnForex.com since
the last issue of the newsletter:
The Use of Foreign Exchange Controls to Promote Economical Stability
<http://www.earnforex.com/articles/use-of-fx-controls-promote-economical-stability?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
7 Things to Consider When Choosing a Forex Broker
<http://www.earnforex.com/articles/7-things-to-consider-when-choosing-forex-broker?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
Clear Chart, Clear Mind
<http://www.earnforex.com/articles/clear-chart-clear-mind?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
You can always browse the previously
uploaded articles
<http://www.earnforex.com/forex-articles?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
.
*
Forex brokers*
One new Forex broker has been added to EarnForex.com since the
last issue of the newsletter:
Euro Pacific Bank
<http://www.earnforex.com/forex-brokers/EuroPacificBank?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
— an offshore bank based in St. Vincent and the Grenadines. IB of
Saxo Bank
<http://www.earnforex.com/forex-brokers/SaxoBank?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
. $2,500 minimum account size with ECN execution and three different
trading platforms.
You can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
.
*
Forex VPS providers*
One new Forex VPS provider has been added to EarnForex.com
since the last issue of the newsletter:
Natcoweb Hosting
<http://www.earnforex.com/forex-vps-hosting/NatcowebHosting?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
You can always browse the previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
.
*
MetaTrader indicators*
One new MetaTrader indicator has been added to EarnForex.com
since the last issue of the newsletter:
Gain/Loss Info
<http://www.earnforex.com/metatrader-indicators/Gain-Loss-Info?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
You can always view the previously
uploaded
Forex indicators
<http://www.earnforex.com/metatrader-indicators?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
.
*
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=n201308&utm_medium=web&utm_campaign=n201308>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
:
Missed Trades — How Do You Treat Them?
<http://www.earnforex.com/blog/are-you-honest-about-your-forex-losses/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
Are You Honest About Your Forex Losses?
<http://www.earnforex.com/blog/missed-trades-how-do-you-treat-them/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
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=n201308&utm_medium=web&utm_campaign=n201308>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
started in July:
Price Action Swing Trading - The PAST Strategy
<http://www.earnforex.com/forum/f9/price-action-swing-trading-past-strategy-14060/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
7/3/2013
<http://www.earnforex.com/forum/f5/7-3-2013-a-14091/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
Losses are part of trading
<http://www.earnforex.com/forum/f4/losses-part-trading-14340/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
Did you start out in forex?
<http://www.earnforex.com/forum/f4/did-you-start-out-forex-14062/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
How to control your emotion when lossing big
<http://www.earnforex.com/forum/f4/how-control-your-emotion-when-lossing-big-14177/?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
MetaQuotes announced <http://forum.mql4.com/56602>
a major MetaTrader 4 + MetaTrader 5 compatibility update.
Launches beta version of MetaTrader 4 Market
<http://forum.mql4.com/57105>
.
Plus500
<http://www.earnforex.com/forex-brokers/Plus500?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
raises $75
million
<http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11655084>
in an initial public offering (IPO) at London Stock Exchange.
Easy-Forex
<http://www.earnforex.com/forex-brokers/Easy-Forex?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
broker launches Chinese yuan trading versus USD, AUD, EUR and JPY.
Forex-Metal
<http://www.earnforex.com/forex-brokers/Forex-Metal?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
becomes the first of the listed Forex brokers to accept Bitcoin.
AvaTrade
<http://www.earnforex.com/forex-brokers/AvaTrade?utm_source=n201308&utm_medium=web&utm_campaign=n201308>
launches Bitcoin trading via BTC/USD CFD
<http://www.avatrade.com/trading-info/range-of-markets/bitcoin?tag=1398>
.
*
Until the next newsletter issue!*
That's all for the August 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=n201308&utm_medium=web&utm_campaign=n201308>
.
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