August 1st, 2014


The FXContest OANDA was discontinued August 1, 2014.
Ended before the “Realized” would reach 10 digits.
To not feel too frustrated I have to sum the “Realized” from all active accounts and so we have: 1,210,203,666.45

See details below.
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Portfolio Return (MG-PT account):

PRSep2008To20140731

 

 

 

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P&L
RealSep2008to20140731

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MG-PT
20140731MG-PT

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20140731FXGest20140731MG-PTMT4EUR20140731Primary

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December 31, 2013


01 – Y2013 Contest (MG-PT)“.
The target set for 2013 was not achieved.
Because the activity was very small, it was not possible to close the account at the end of the year, keeping “Realized P&L” in the order of 10 digits.
I hope this account (outdated) will be closed during the year 2014.
This year we have a new competition, “01 – 2014 Contest (MG-PT)” with a new account where I can transfer and withdraw funds.

See details below.
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Portfolio Return (MG-PT account):

PRSep2008To20131231

MG-PT
20131231MG-PT

P&L
RealSep2008to20131231

Week 25, 2013, further reading


by Dean Popplewell, OANDA
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Week in FX Europe – EUR’s Kiss Of Death From Ben
by Dean Popplewell, OANDA
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Week in FX Asia – Bank of Japan Dissapoints Markets with Inaction Yen Rises | OANDA Forex Blog


 

This week the Bank of Japan found out just how harsh and fickle a mistress the market can be. The BoJ was the darling of the market and the shining example of how a central bank should intervene. Tuesday Governor Haruhiko Kuroda and the Japanese currency suffered the brunt of the market’s criticism for their lack of action. The currency rose to 96 and has continued to rise as the week progressed. There were expectations that the BoJ would increase its monetary stimulus.

Comments from the influential Mr. Yen summed up the feeling around Prime Minister Shinzo Abe’s third arrow of reform. Eisuke Sakakibara is pessimistic given the proximity of elections. Abe can’t introduce new reforms until fall to avoid compromising the results of the elections. Abe’s bold statements and follow through by Kuroda was seen as the one-two punch needed to get Japan back on track, but the expectation was that they would not stop there.

Sakakibara does not expect reforms before or after the election and adds his voice to the critics of Abe’s third arrow of reform as the first arrow of BoJ intervention is lacking in long-lasting impact.

Next week Japan will continue to be part of a G8 meeting where there could be rumblings of currency intervention. Although with the current state of the Yen this is less likely as the weakening could be unsustainable. The G8 might have suspected this from the start. Industrial production indicators will be released as well as foreign investment which will give insight on how well Abenomics is working on the real economy and investment.



WEEK AHEAD

* AUD RBA Meeting’s Minutes
* GBP Core Consumer Price Index
* GBP BOE Inflation Letter
* USD Consumer Price Index
* GBP Bank of England Minutes
* USD Fed Interest Rate Decision
* USD FOMC Economic Projections
* USD Fed’s Monetary Policy Statement and press conference
* EUR Producer Price Index
* CHF SNB Interest Rate Decision
* BOE Bank of England Minutes
* CAD Bank of Canada Consumer Price Index

Week in FX Asia – Bank of Japan Dissapoints Markets with Inaction Yen Rises | OANDA Forex Blog