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EarnForex.com Monthly Newsletter
*October 2, 2013*
Welcome to the latest issue of EarnForex.com newsletter — October
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 September*
*EUR/USD* — rose amazingly fast in September, ending the month with
a short period of volatile consolidation. It was at the maximum at
1.3568 on September 19, at its minimum at 1.3104 on September 6,
finishing the month at 1.3525.
*GBP/USD* — rose even faster than EUR/USD but had a momentary
weakness near the end of the second decade. The highest monthly rate
was at 1.6202 on September 30, while the lowest — at 1.5506 on
September 2. GBP/USD finished September trading at 1.6184.
*USD/JPY* — demonstrated a slow but steady decline. The pair rose to
as high as 100.61 on September 11, reaching a bottom at 97.50 on
September 30 and closing the month with the 98.21 rate.
*EUR/JPY* — was in an uptrend for the first twenty days, and was
falling after that. The monthly high was at 134.94 on September 19,
the monthly low — at 129.78 on September 2. Trading ended at 132.84
for this currency pair.
*GBP/JPY* — rallied based on GBP strength; the end of the month was
somewhat slower. The maximum level for this pair was 159.99 on
September 19, while the minimum — 152.40 on September 2. The month's
trading ended at 158.94 for GBP/JPY.
*
Fundamental background of the past month*
September was not a good month for the US dollar. Initially, the
currency was strong on positive fundamentals
<http://www.topforexnews.com/2013/09/03/us-dollar-rallies-positive-fundamentals-gains-small/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
, but was hurt by the poor employment report
<http://www.topforexnews.com/2013/09/06/greenback-drops-jobs-data-pushes-back-taper-expectations/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
. The unexpected slump of jobless claims
<http://www.topforexnews.com/2013/09/12/unexpected-slump-jobless-claims-boost-us-dollar/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
allowed the greenback to rebound, but macroeconomic data became not
as favorable as it was previously
<http://www.topforexnews.com/2013/09/18/poor-economic-data-makes-dollar-soft-ahead-fed-meeting/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
. The main question for Forex traders was: if the Fed will taper its
quantitative easing program? It turned out that the US central bank
was not ready to trim stimulus measures
<http://www.topforexnews.com/2013/09/18/breaking-news-fed-avoids-qe-tampering-dollar-pounded-ground/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
and this hurt the dollar greatly. But not for long as market
participants immediately started to speculate about tampering in
October
<http://www.topforexnews.com/2013/09/20/us-dollar-slightly-higher-speculation-octaper/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
(so-called Octaper). By the end of the month, the currency was torn
between conflicting influences as everybody was waiting for a
potential US government shutdown
<http://www.topforexnews.com/2013/09/30/dollar-ahead-us-government-shutdown/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
. Many experts were saying that politicians will avoid such extreme
outcome, but they were wrong. Shutdown has been initiated. It is not
yet a full-fledged government collapse as politicians have yet time to
reach an agreement before even more important deadline: October 17,
when the debt ceiling should be raised.
As the dollar was falling, the euro was gaining strength. The currency
slipped as the European Central Bank maintained accommodative policy
<http://www.topforexnews.com/2013/09/05/euro-loses-ground-ecb-decision/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
and was even considering lower interest rates
<http://www.topforexnews.com/2013/09/06/euro-mixed-ecb-considers-lower-rate/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
. Yet economic reports were good, especially from Germany
<http://www.topforexnews.com/2013/09/17/euro-gets-help-improved-german-zew/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
, and an interest rate cut did not look imminent
<http://www.topforexnews.com/2013/09/19/euro-gains-ecb-rate-cut-considered-imminent/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
, allowing the currency to regain strength. The currency experienced
weakness by the end of the month due to politics. Angela Merkel won
her third term as a German Chancellor, but had not enough votes to
fully control the government
<http://www.topforexnews.com/2013/09/25/euro-retains-losses-germany/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
, while Italy faces new elections as the government was heading to
collapse
<http://www.topforexnews.com/2013/09/30/euro-struggles-italian-politics-turn-ugly/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
.
The Great Britain pound looked unstoppable in its thrust to the
upside. Of course, the currency had bad trading session. UK GDP growth
disappointed traders
<http://www.topforexnews.com/2013/09/26/pound-retreats-gdp-misses-forecasts/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
, putting pressure on the sterling. But economic reports were positive
for the most part, including the employment data
<http://www.topforexnews.com/2013/09/11/employment-data-adds-strength-sterling/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
. Central bank Governor Mark Carney was speaking about recovery
<http://www.topforexnews.com/2013/09/13/pound-soft-even-carney-sees-recovery/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
and said that he sees no need for additional stimulus
<http://www.topforexnews.com/2013/09/28/pound-jumps-carney-sees-need-stimulus/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
. All in all, it looks like Britain's economy is firmly on the path of
recovery and this made the pound one of the best performers on the
Forex market.
The Japanese yen was weak against most currencies
<http://www.topforexnews.com/2013/09/02/japanese-yen-lower-across-board/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
as traders were expecting that the Bank of Japan will make its
monetary policy more accommodative. The central bank refrained from
easing the policy further
<http://www.topforexnews.com/2013/09/05/boj-concludes-policy-meeting-yen-little-changed/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
, but expectations for additional stimulus remain. At the same time,
Japan's economy showed signs of improvement
<http://www.topforexnews.com/2013/10/01/yen-rises-tankan/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
, making necessity of further easing questionable.
Gold was not able to maintain its rally in September. The metal jumped
<http://www.commodityblog.com/good-news-for-gold-silver-no-qe-tampering-from-fed/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
after the Fed refrained from QE tampering, but quickly retreated
<http://www.commodityblog.com/gold-silver-oil-unable-to-maintain-rally/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
and continued to move sideways.
*
Interest rate changes in September*
*Hungary*
3.40%
+0.20%
3.60%
*Indonesia*
7.00%
+0.25%
7.25%
*Israel*
1.25%
-0.25%
1.00%
*Latvia*
2.00%
-0.50%
1.50%
*Mexico*
4.00%
-0.25%
3.75%
*Republic of India*
10.25%
-0.75%
9.50%
*Singapore*
0.20%
+0.01%
0.21%
*
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=n201310&utm_medium=web&utm_campaign=n201310>
are the following:
HY Markets
<http://www.earnforex.com/forex-brokers/HYMarkets?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
— 10
Armada Markets
<http://www.earnforex.com/forex-brokers/ArmadaMarkets?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
— 10
FreshForex
<http://www.earnforex.com/forex-brokers/FreshForex?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
— 10
GAINSY
<http://www.earnforex.com/forex-brokers/GAINSY?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
— 10
Tradenext
<http://www.earnforex.com/forex-brokers/Tradenext?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
— 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=n201310&utm_medium=web&utm_campaign=n201310>
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:
MetaTrader 4 for Dummies
<http://www.earnforex.com/forex-e-books/beginner-forex-trading/MetaTrader-4-For-Dummies.pdf>
You can always browse the previously
uploaded books
<http://www.earnforex.com/forex-e-books/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
.
*
Forex articles*
Two new Forex articles have been published on EarnForex.com since
the last issue of the newsletter:
Binary Options vs. Forex Trade — Facts You Ought to Know to Earn
Money
<http://www.earnforex.com/articles/binary-options-vs-forex-trade-facts-you-ought-to-know-to-earn-money?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
Forex Price Charts Basics
<http://www.earnforex.com/articles/forex-price-charts-basics?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
You can always browse the previously
uploaded articles
<http://www.earnforex.com/forex-articles?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
.
*
Forex brokers*
No new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter, but you can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
.
*
Forex VPS providers*
One new Forex VPS provider has been added to EarnForex.com
since the last issue of the newsletter:
FXVM
<http://www.earnforex.com/forex-vps-hosting/FXVM?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
You can always browse the previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
.
*
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=n201310&utm_medium=web&utm_campaign=n201310>
.
*
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=n201310&utm_medium=web&utm_campaign=n201310>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
:
Is MetaQuotes Doing a Right Thing by Merging MQL4 and MQL5?
<http://www.earnforex.com/blog/is-metaquotes-doing-a-right-thing-by-merging-mql4-and-mql5/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
What Role in Forex Trading Do You See for Bitcoin?
<http://www.earnforex.com/blog/role-of-bitcoin-in-forex-trading/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
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=n201310&utm_medium=web&utm_campaign=n201310>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
started in September:
First entry usually wrong!?
<http://www.earnforex.com/forum/f4/first-entry-usually-wrong-15390/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
How much pip stop loss is good?
<http://www.earnforex.com/forum/f4/how-much-pip-stop-loss-good-15491/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
Staggering your entries
<http://www.earnforex.com/forum/f4/staggering-your-entries-15596/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
**Green pips** (up 2000pips monthly)
<http://www.earnforex.com/forum/f24/green-pips-up-2000pips-monthly-15464/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
The Pressures of Trading
<http://www.earnforex.com/forum/f4/pressures-trading-15490/?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
US regulator CFTC orders
<http://www.cftc.gov/PressRoom/PressReleases/pr6697-13>
FXDD
<http://www.earnforex.com/forex-brokers/FXDD?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
to pay $2.74 million in
restitution and penalty for trading platform failures.
Alpari
<http://www.earnforex.com/forex-brokers/Alpari?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
exits US market, moving its American clients to
<http://www.earnforex.com/forex-brokers/FXCM?utm_source=n201310&utm_medium=web&utm_campaign=n201310>
.
*
Until the next newsletter issue!*
That's all for the October 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=n201310&utm_medium=web&utm_campaign=n201310>
.
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