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EarnForex.com Monthly Newsletter
*August 2, 2011*
Welcome to the latest issue of EarnForex.com newsletter — August
2011.
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* — demonstrated a V-pattern in July, first going down and
then rising back up. It was at its maximum at 1.4577 on July 4, at its
minimum at 1.3837 on July 12, finishing the month at 1.4397.
*GBP/USD* — went up in July, with only a small decline in the
beginning. The highest monthly rate was at 1.6469 on July 29, while
the lowest — at 1.5780 on July 12. GBP/USD finished July trading at
1.6419.
*USD/JPY* — declined sharply last month. The pair rose to as high
as 81.46 on July 8, reaching a bottom at 76.71 on July 29 and closing
the month with the 76.73 rate.
*EUR/JPY* — fell rapidly during the first half and moved almost
sideways in the second one. The monthly high was at 117.74 on July 4,
the monthly low — at 109.57 on July 12. Trading ended at 110.47 for
this currency pair.
*GBP/JPY* — moved almost the same way as the EUR/JPY pair. The
maximum level for this pair was at 130.84 on July 5, while the minimum
— at 124.81 on July 12. The month's trading ended at 126.00 for
GBP/JPY.
*
Fundamental background of the past month*
The main fundamental issue of July was the US Congress debates
in regards of lifting the public debt ceiling (which is currently
capped at
$14.3 trillion). The final date for the US authorities to come up
with a
positive decision is August 2, with a technical default following on
that day if
nothing changes. In July, the US lawmakers have failed to come to a
compromise
debt plan, resulting in a decline of dollar and rise of the
safe-haven
currencies (the Swiss franc and the Japanese yen). Another important
issue was
the continuing debt troubles in Eurozone, with Greece almost hitting
default and
some other EZ countries receiving credit rating downgrades.
*
Interest rate changes in July*
Country
Old Rate
Change
New Rate
Denmark
1.30%
+0.25%
1.55%
Sweden
1.75%
+0.25%
2.00%
Brazil
12.25%
+0.25%
12.50%
*
Top 5 Forex brokers of the last month*
The top 5 Forex brokers, as rated by the visitors of EarnForex.com
<http://www.earnforex.com/>
are the following:
AccentForex <http://www.earnforex.com/forex-brokers/AccentForex>
— 6.8
HMS Markets <http://www.earnforex.com/forex-brokers/HMSMarkets>
— 5.7
CitiFX Pro <http://www.earnforex.com/forex-brokers/CitiFX>
— 5.5
NTWO <http://www.earnforex.com/forex-brokers/NTWO>
— 5.4
ATG <http://www.earnforex.com/forex-brokers/ATG>
— 5.4
To qualify for the position in this top 5 rating a Forex broker
should have at least 5 votes. Don't forget to rate your favorite
broker <http://www.earnforex.com/forex-brokers/>
if you haven't 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/>
.
*
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>
.
*
Forex brokers*
Eight new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
FinFX <http://www.earnforex.com/forex-brokers/FinFX>
— a Finnish broker with MetaTrader 4 and ECN platforms with $150
minimum account size, Moneybookers deposits and PAMM system.
PaxForex <http://www.earnforex.com/forex-brokers/PaxForex>
— a classic offshore Forex broker registered on BVI. Offers
MetaTrader, multiple withdraw/deposit methods, high leverage, $5
minimum account size and micro-lots.
IronFX <http://www.earnforex.com/forex-brokers/IronFX>
— a Forex broker from Cyprus. $500 minimum account size,
MetaTrader 4 and Web Trader platforms, Muslim-friendly accounts and
flexible leverage.
EES FX ECN <http://www.earnforex.com/forex-brokers/EESFXECN>
— a US Forex broker with MetaTrader and ECN execution. The minimum
is $500 and leverage is capped at 1:50. Offers PAMM accounts, but
charges 5% commission on profit — on both self-traded and managed
accounts.
Synergy FX <http://www.earnforex.com/forex-brokers/SynergyFX>
— an Australian company with very low spreads, MetaTrader support
and $500 account minimum. The leverage is flexible between 1:1 and
1:500. Micro-trading is allowed.
Trader's Way <http://www.earnforex.com/forex-brokers/TradersWay>
— the first listed broker from Dominica. Extremely low minimum
account size — $0.20. Plus the usual benefits of the offshore Forex
brokers.
VertiFX <http://www.earnforex.com/forex-brokers/VertiFX>
— originating at St. Kitts & Nevis, this MetaTrader broker offers
extremely low spreads, PAMM accounts and trading many markets in
addition to Forex. The minimum account size is $500.
TradeFort <http://www.earnforex.com/forex-brokers/TradeFort>
— a Swiss Forex broker (though not regulated there) with 0.0001
lots available and $1 minimum account size. It offers MetaTrader 4 and
supports CFD and commodity trading.
You can always view our full
list of Forex brokers <http://www.earnforex.com/forex-brokers/>
.
*
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>
.
*
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>
.
*
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/>
.
*
Forex polls*
Two new polls have been posted on the EarnForex blog
<http://www.earnforex.com/blog/>
:
Forex Brokers from Which Country Do You Prefer?
<http://www.earnforex.com/blog/2011/07/is-forex-broker-country-important/>
What's Your Forex Account Currency?
<http://www.earnforex.com/blog/2011/08/forex-account-currency-poll/>
You can also browse the full list of
Forex polls <http://www.earnforex.com/blog/tag/forex-poll/>
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 also browse the
previously added
Forex strategies <http://www.earnforex.com/forex-strategy/>
.
*
Forex industry news*
There were the following important Forex industry news in
July:
EarnForex.com launched a full version of its
Forex Report Analysis
Tool <http://www.earnforex.com/report-analysis/>
— a special free online tool that allows one to analyze
MT4, MT5 and Oanda accounts reports for more detailed information
about an
expert advisor or a trading strategy.
Tadawul FX <http://www.earnforex.com/forex-brokers/TadawulFX>
ceased working with US clients starting July 15.
InstaForex <http://www.earnforex.com/forex-brokers/InstaForex>
launched a trading platform for BlackBerry, Android and web.
Japanese regulator <http://www.fsa.go.jp/en/index.html>
reduces
the maximum leverage for FX trading from 1:50 to 1:25.
*
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 contact me
<http://www.earnforex.com/contact>
.
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