International Forex Trading Contest 2011

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The International Forex Trading Contest 2011 has started, come and register now ! It's not too late !

July 2011

USD recovers as risk sours

The euro surged higher at the start of the week, reaching a new monthly high against the US dollar. The single currency gathered its footing after finance ministers from euro zone nation’s authorised payment of Europe’s share of Greece’s next installment of financial aid over the weekend. It found support for most of last week as the Greek parliament voted in favor of an austerity vote and European Central Bank President Trichet said that the central bank policymakers are in “strong vigilance” mode, bringing interest rate expectations back into focus.

The euro posted gains of more than 3 percent versus the dollar last week following five consecutive days of gains. EUR/USD hit 1.4578 very early on Monday of this week on news of the release of Greece’s fifth tranche payment. The euro gave up gains on Monday after Standard & Poor’s warned that if the draft plan proposed by French banks for a Greek debt rollover was implemented, it might cause Greece's rating to be cut to “selective default”.

On Tuesday, the US dollar found some reprieve and was supported for most of the week. The dollar was up on a short squeeze and a series of stop-loss buying. The greenback was also lifted by a drop in risk sentiment on Tuesday over concerns on the Chinese economy and speculation that US companies would repatriate earnings from overseas.

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The International Forex Trading contest has started but you can register when you want. Join the contest now and measure you to the best traders.

The best trader on the overall contest will receive a EUR 20'000 free margin account, check the complete list below to see the other prize that you may claim if you are in the top 10 on the overall performance.

Every month, the top 15 performers are eligible for a free margin accoun. The best monthly performer will receive a EUR 5'000 free margin account.


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http://www.trading-contest.com Forex Contest 2011
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