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EarnForex.com Monthly Newsletter
*August 1st, 2012*
Welcome to the latest issue of EarnForex.com newsletter — August
2012.
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* — declined rapidly most of July but stopped and recovered
about a half of its losses during last week. It was at the maximum at
1.2679 on July 2, at its minimum at 1.2042 on July 24, finishing the
month at 1.2303.
*GBP/USD* — demonstrated a nearly perfect W-pattern with a
considerable upward slope. The highest monthly rate was at 1.5767 on
July 27, while the lowest — at 1.5392 on July 12. GBP/USD finished
July trading at 1.5675.
*USD/JPY* — was going down steadily in July. The pair rose to as
high as 80.09 on July 5, reaching a bottom at 77.94 on July 23 and
closing the month with the 78.11 rate.
*EUR/JPY* — traded similarly to EUR/USD but with a stronger decline
slope and a weaker recovery in the end. The monthly high was at 101.28
on July 2, the monthly low — at 94.11 on July 24. Trading ended at
96.11 for this currency pair.
*GBP/JPY* — was a bit spiky in July but the general chart pattern
was similar to that of EUR/USD — decline and then a minor recovery.
The maximum level for this pair was at 125.47 on July 2, while the
minimum — at 120.82 on July 26. The month's trading ended at 122.46
for GBP/JPY.
*
Fundamental background of the past month*
July was a very mixed month in terms of fundamental background.
While the overall global situation remained quite stable, there were
important
some events and processes in world.
US economy rose in the 2nd quarter of 2012, UK's GDP shrank
<http://www.topforexnews.com/2012/07/25/pound-drops-as-gdp-shrinks/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
,
while China grew slower
<http://www.topforexnews.com/2012/07/05/surprise-from-china-pboc-lowers-interest-rates-yuan-falls/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
than expected.
Continuing drought
<http://www.usda.gov/wps/portal/usda/usdahome?contentid=2012/07/0250.xml&navid=NEWS_RELEASE&navtype=RT&parentnav=LATEST_RELEASES&edeployment_action=retrievecontent>
in North America was spurring the agriculture prices, helping the
commodity
currencies to rally, especially against the euro, has been
experiencing one of
the worst months on Forex. Near the end of the month, the euro
managed to
recover following ECB President Draghi's
comments
<http://www.topforexnews.com/2012/07/26/euro-goosed-higher-on-draghi-comments/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
, despite rising borrowing costs for Spain.
*
Interest rate changes in July*
Country
Old Rate
Change
New Rate
Eurozone
1.00%
-0.25%
0.75%
Brazil
8.50%
-0.50%
8.00%
China
6.31%
-0.31%
6.00%
Denmark
0.45%
-0.25%
0.20%
Israel
2.50%
-0.25%
2.25%
Latvia
3.50%
-0.50%
3.00%
Singapore
0.17%
+0.01%
0.18%
South Africa
5.50%
-0.50%
5.00%
South Korea
3.50%
-0.25%
3.25%
*
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/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
are the following:
AccentForex
<http://www.earnforex.com/forex-brokers/AccentForex?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— 6.4
HotForex
<http://www.earnforex.com/forex-brokers/HotForex?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— 6.0
Universal FX
<http://www.earnforex.com/forex-brokers/UniversalFX?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— 5.9
You Trade FX
<http://www.earnforex.com/forex-brokers/YouTradeFX?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— 5.9
Loyal Forex
<http://www.earnforex.com/forex-brokers/LoyalForex?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— 5.6
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/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
*
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?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
*
Forex brokers*
Three new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
JFX
<http://www.earnforex.com/forex-brokers/JFX?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— a Forex broker with Cypriot regulation. Offers ECN and normal
trading via MetaTrader 4 and Currenex. Micro accounts start from $100.
Goldstein Brokers
<http://www.earnforex.com/forex-brokers/GoldsteinBrokers?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— an unregulated FX trading company with MetaTrader 4 platform and
$1 minimum account size and 1:400 leverage.
MyTrade Markets
<http://www.earnforex.com/forex-brokers/MyTradeMarkets?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— another unregulated broker. One account type is offered — $50
minimum size, fixed 2 pips spread on EUR/USD and 1:500 leverage on
Forex instruments.
You can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
*
Forex VPS providers*
One new Forex VPS provider has been added to EarnForex.com
since the last issue of the newsletter:
Dewlance
<http://www.earnforex.com/forex-vps-hosting/Dewlance?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
— Windows-based VPS with servers located in the USA. $12.50 is the
minimum package price per month, payable via PayPal, Moneybookers,
AlertPay and Liberty Reserve.
You can always browse the previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
*
MetaTrader indicators*
One new MetaTrader indicator has been added to EarnForex.com
since the last issue of the newsletter:
USDX
<http://www.earnforex.com/metatrader-indicators/USDX?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
You can always view the previously
uploaded
Forex indicators
<http://www.earnforex.com/metatrader-indicators?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
*
MetaTrader expert advisors*
One new expert advisor has been added to EarnForex.com since
the last newsletter issue:
Spike Trader
<http://www.earnforex.com/metatrader-expert-advisors/Spike-Trader?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
You can always browse the previously added
MetaTrader EAs
<http://www.earnforex.com/metatrader-expert-advisors/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
:
What Types of Forex Trading Are You Engaged in?
<http://www.earnforex.com/blog/2012/07/alternatives-to-spot-forex/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
How Do You Get Your Forex Education?
<http://www.earnforex.com/blog/2012/07/your-forex-education-poll/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
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/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
started in July:
Does your broker offer a forex blog or analysis section?
<http://www.earnforex.com/forum/f10/does-your-broker-offer-forex-blog-analysis-section-10332/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
How much time you spent for trading ?
<http://www.earnforex.com/forum/f4/how-much-time-you-spent-trading-10247/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
How to succeed in forex?
<http://www.earnforex.com/forum/f4/how-succeed-forex-10343/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
What is your first step when you go for the trade?
<http://www.earnforex.com/forum/f4/what-your-first-step-when-you-go-trade-10354/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
Forex stress
<http://www.earnforex.com/forum/f4/forex-stress-10346/?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
Broco
<http://www.earnforex.com/forex-brokers/Broco?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
closes all of its activity as Russian police forces are investigating
the
company on criminal account.
NFA <http://www.nfa.futures.org/>
fines
Alpari
<http://www.earnforex.com/forex-brokers/Alpari?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
for
$200,000
<http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0379678&case=12BCC00020&contrib=NFA>
because of a trading platform's glitch.
CFTC <http://www.cftc.gov/>
orders
Interactive
Brokers
<http://www.earnforex.com/forex-brokers/InteractiveBrokers?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
to pay a civil monetary penalty of $700,000
<http://www.cftc.gov/PressRoom/PressReleases/pr6317-12>
on
account of violations of reporting and accounting rules.
Trading Point is now to be known as XEMarkets
<http://www.earnforex.com/forex-brokers/XEMarkets?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
Both Wall Street Brokers
<http://www.earnforex.com/forex-brokers/WallStreetBrokers?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
and UFX Bank
<http://www.earnforex.com/forex-brokers/UFXBank?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
seem to be gone out of business.
FXDD
<http://www.earnforex.com/forex-brokers/FXDD?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
violates NFA <http://www.nfa.futures.org/>
rules, namely using the
asymmetric slippage.
NFA shuts down PFG Best
<http://www.earnforex.com/forex-brokers/PFGBest?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
Traders are allowed to close their positions.
*
Until the next newsletter issue!*
That's all for the July 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?utm_source=n201207&utm_medium=web&utm_campaign=n201207>
.
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