CHIP AND FAIL. A TROUBLED MONTH FOR THE SEMICONDUCTOR INDUSTRY

Dear clients,

Shares of Nvidia and other U.S. semiconductor companies are starting to slowly lose lustre after a stunning rally into 2023 as investors weigh high valuations, rising Treasury yields and signs of industry worries.

At the start of the year, shares of chip companies soared, with the Philadelphia SE Semiconductor (.SOX) index surging more than 50% through July. No stock has embodied the chip industry's success more than Nvidia, whose shares tripled in 2023, when the company's market value topped $1 trillion, driven by excitement around the central role of the company's products in artificial intelligence applications.

However, the group's performance has stalled. SOX is down more than 7% this month, compared with a 2.3% fall in the broad S&P 500 index, while Nvidia shares — the driver of this year's broad market rally — are down more than 14% in September.

Investors said the group is also being impacted by industry concerns, including ongoing tensions between the U.S. and China over semiconductors. Washington is considering imposing restrictions on the sale of artificial intelligence chips, after export controls last year cut China off from some semiconductor chips made anywhere in the world on US equipment.

Another blow came from Taiwan's TSMC, which asked its major suppliers to delay shipments of high-tech chip-making equipment as the world's top contract chipmaker grows increasingly nervous about customer demand. Shares of several TSMC suppliers fell after the announcement.

Meanwhile, the excitement following last week's initial public offering of Arm Holdings has died down, and shares of the chip developer have fallen for the fifth consecutive day.

Still, the sentiment among investors is still quite positive. Many chip stocks have risen significantly over the year, and this month may prove to be only a temporary setback.

FREE POWERFUL TRADING ANALYTICS IN METATRADER 5

Dear clients,

Last week the MetaTrader 5 platform was updated to the Build 3950 version.

Let's get straight to the main thing. The trading history report has been redesigned and completely updated - now it is more clear. The developers have revised the approach to information presentation and converted dry statistical reports into interactive charts and diagrams. The work is still in progress, but you can already evaluate the changes. To view trade statistics, click "Reports" in the "View" menu.

Available reports:

Summary - summary information about your activity over time: account details, profit and loss totals, deposit and withdrawal amounts, balance, growth and dividend graphs, and other data.
Profit/Lost - historical information about profitable and losing trades. It is divided by type of trading (manual, copy-trading and algo-trading), can be analysed in terms of trades, percentages or money by days, months and years.
Long/Short - report on Buy- and Sell-orders in specified time intervals.
Symbols - detailed analysis of deals by financial instruments. Ratio of the number of deals, comparison of different types of trading and historical data for individual symbols or whole groups.
 

This innovation will help traders of any level to trade more efficiently — the statistics section has been redesigned, now it is a serious tool for analysing your own trading history. Beginners and professionals will find in the updated section everything they need to optimise their portfolio. You will no longer need third-party services to monitor trading results: the necessary information is built into the platform and is available at a single click.

Right now the update is available only for the desktop version of the platform with an operating system not lower than Windows 10. In the nearest updates this feature will be added to the web and mobile versions of MetaTrader 5.

No extra effort or cost — the solution is built into the trading platform and comes free of charge!

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TRADING SIGNALS: US FED MEETING

Dear clients,

On September 20, the US Federal Reserve System, the body that performs the functions of the Central Bank of America, will hold a meeting. The decision on the interest rate will determine further market movement, which is what makes traders involved.

Our expert tells us how the situation with the rates will develop now:

The US Fed may keep the rate at the previous level of 5.5% today, but will signal to traders about the possibility of raising rates at the next meeting on November 1, as fuel prices have risen strongly in the United States, which is fraught with rising inflation. The future rate hike is positive for the dollar, thus consider buying USDCAD, USDZAR and selling AUDUSD, XAGUSD on Wednesday.

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'WHAT A TWIST' FOR BANK OF ENGLAND

Dear clients,

The Bank of England will announce on Thursday whether it is halting its series of interest rate hikes, a day after signs that a turnaround is in sight in the UK's handling of high inflation.

As soon as official data showed an unexpected drop in the rate of price growth, investors began betting on Wednesday that the Bank of England would keep the Bank Rate at 5.25%. By Thursday, the figure had already reached 5.5%

Goldman Sachs and other banks abandoned their earlier expectations of another rate hike, and investors put the Bank of England's pause at around 50%, up from 20% on Tuesday.

Other analysts said they still see a final Bank of England rate hike as the most likely outcome following the recent surge in global oil prices, but emphasised that it could go either way.

Bank of England Governor Andrew Bailey and his colleagues on the Monetary Policy Committee have been heavily criticised after consumer price inflation topped 11% last October.

In recent weeks, Bailey and other officials have emphasised that while they may be close to reaching the peak of their series of rate rises, they may have to keep borrowing costs high for some time, dashing hopes of a rapid rate cut.

Whether or not the Bank of England raises rates again, it is likely to face the challenge of convincing investors that it will stand by its judgement and not rush to cut rates even as the already fragile UK economy shows signs of weakening.

The Bank of England is concerned that wages are still defying a slowdown in the wider economy and are rising at a record pace, threatening to derail its attempts to bring inflation down.

As well as the rate decision, the central bank is expected to unveil details of the next phase of a programme to reduce the stockpile of government bonds it has built up over a decade and a half to help the economy during the global financial crisis and the COVID-19 pandemic.

NEXT TO THE STAGE. BANK OF JAPAN MEETING

Dear clients,

In Asian trading on Monday, the US dollar barely moved, even sterling rose, but the yen fell as a Japanese holiday and a slew of upcoming central bank meetings sucked the air out of the markets.

The Bank of Japan meeting on Friday will be the highlight of the week in Asia, after Bank Governor Kazuo Ueda sparked speculation of an imminent departure from ultra-soft policy.

This has highlighted the Japanese central bank in a week packed with central bank meetings, with a hawkish pause expected from the US Federal Reserve on Wednesday and the Bank of England possibly raising rates for the last time on Thursday.

The yen was unchanged against the US dollar at between 147.63 and 147.88 per dollar, while markets in Japan were closed due to a public holiday. The yen fell 1.3% in the days following Ueda's announcement that he would soon move away from negative rates, with losses for 2023 exceeding 11%.

Economists at Commonwealth Bank of Australia expect yen exchange rate volatility ahead of the policy meeting and believe investors may have misinterpreted Ueda's comments. Recent weakness in Japanese wages and possible prices could also soften and push the BoJ away from its inflation target, so the case for the BoJ to tighten policy is not yet strong.

CRYPTO BLUES: STABLECOIN'S HEAVY SHARE OF LOSSES

Dear clients,

Bitcoin is not the only asset experiencing a late summer downturn.

Stablecoins, cryptocurrencies typically pegged to real assets such as the US dollar, have fallen to their lowest market capitalisation in two years as low trading volumes and a buzzing dollar put pressure on the market for these tokens.

In fact, they are suffering the most.

While the entire cryptocurrency ecosystem has bounced back from 2022 lows, the market capitalisation of the stablecoin sector is set to decline for the 18th consecutive month, according to research firm CCData. It's down by almost a tenth this year and stood at $124.4bn as of 14 September.

Not everyone is keeping pace, though: The largest dollar-stablecoin, Tether, is bucking the downward trend. It hit a record high of $83.8bn in July, according to CoinGecko, after being worth less than $80bn in the first three months of this year, its volume has since fallen to around $82.9bn.

While stablecoins make up only a modest portion of the cryptocurrency market, they play a key role for traders, allowing them to hedge against price spikes in other tokens, such as bitcoin, or to store idle cash without having to transfer it back into fiat currency. Some enthusiasts also envisage using stablecoins as a means of payment.

However, the market for these tokens has been in the doldrums since last year's collapse of the algorithmic token TerraUSD, which was once the fourth-largest stablecoin token and was the first domino in a series of dramatic industry failures.

The market has also suffered losses for Binance's dollar-linked token BUSD, which is down about 89% from its all-time high reached in November. In February, the New York Department of Financial Services ordered issuer Paxos to cease issuing the token, which was once the third-largest stablecoin.

The market value of USD Coin (USDC), the second-largest stablecoin, has fallen more than 53% from its record high reached last June and now stands at more than $26bn.

ECB MEETING: WHAT WILL HAPPEN TO THE RATE?

Dear clients,

The next big event today is the ECB meeting. The European Central Bank is a global financial institution that regulates the entire Eurozone credit and financial policy. For this reason, the ECB Interest Rate Decision causes high volatility in the financial markets.

What will be the decision this time, and what instruments can be chosen? Our lead analyst says:

The ECB may keep the interest rate at 4.25% today and will signal to traders that it is ready to raise rates at the next meetings if necessary. Keeping rates at the same level is negative for the single European currency. Today, consider selling EURUSD, EURCAD, EURHKD.

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DOUBLE BENEFIT WHEN TRADING BITCOIN!

Dear clients,

For two weeks, commission costs will be half off when opening Bitcoin trades (BTCUSD).

Until September 28, there is a 50% discount on spread and swap when depositing from $399. This is a great opportunity to earn more! Open trades intraday or for a longer term, you will save significantly either way.

In addition, you can save even more if you fund your account with cryptocurrency! We will credit 10% of the deposit amount without limit.

GOOD NEWS, BAD NEWS. THE POWER MOVE OF DOLLAR

Dear clients,

Global stock indices were mostly down on Thursday, with the S&P 500 and Nasdaq falling along with Apple shares, while the US dollar rose after weaker-than-expected US jobless claims data.

Initial jobless claims in the states for the week ended September 2 unexpectedly fell to 216,000 from a revised 229,000 the week before. The latest week's reading was the lowest since February.

A separate report showed that US labour productivity in the second quarter was not as strong as previously announced.

The latest data confirmed the view that the US economy remains resilient and that US interest rates may have to be raised for a long time to come.

China's yuan fell to a 16-year low against the dollar amid falling property prices, weak consumer spending and reduced credit growth in the world's second-largest economy.

China's trade data released on Thursday, while not as dire as economists had forecast, still showed a nearly 9% drop in exports and a more than 7% drop in imports.

In Japan, traders continued to watch for intervention as the Japanese yen struggled to make a sustained breakout against the steady dollar.

The dollar had earlier hit its highest since November at 147.875 yen and was last down 0.4% to 147.20.

The dollar declined on Friday but still remains on track for its longest weekly winning streak in nine years, helped by a steady run of U.S. economic data that also called into question the end of the Federal Reserve's aggressive rate hike cycle.

The U.S. Dollar Index, which measures the dollar against major currencies, was last down 0.1% at 104.93, but remained not far from the previous session's six-month high of 105.15. The index was on track to continue rising for the eighth consecutive week and is currently up 0.6%.

INVIGORATE YOUR TRADING WITH A POWERFUL DUAL OFFER

Dear clients,

We extend the summer and offer the hot promotion! Unprecedented benefit for new clients — activate Cashback and get 101% of the amount on your first deposit.

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3.3. Make a deposit from 101 USD;

3.4. Contact the personal manager with the code word HOT to credit the deposit bonus in the amount of 101%;

4. Bonus funds are used in accordance with the terms of the promotion Drawdown bonus 101%; crediting of spread refund in accordance with Cashback promotion terms.

5. In order to prevent abuse of the promotion terms and conditions, the Company reserves the right to refuse the client this offer without warning at any time at its discretion.

LET'S TALK ABOUT ECB MEETING

Dear clients,

On September 14, the European Central Bank will hold meeting, it will provoke strong fluctuations on the financial markets.

We will tell you how to earn with this event and which instruments can bring the most profit, as well as how the meeting will affect the euro and European indices.

Join us on September 13 at 12:00 GMT.

During webinars, FreshForex analyst will answer your questions regarding the market situation and comment on the latest news.

If you missed the previous webinars, you can always find them here.

RATIO'D. UPDATED FORECASTS FROM MOODY'S

Dear clients,

Ratings agency Moody's on Friday raised its forecast for U.S. economic growth in 2023 but lowered its outlook for China next year, noting that while the risk of a U.S. recession has declined, China's problems are mounting.

"We have raised our forecast for U.S. economic growth to 1.9% in 2023 from 1.1% in our May forecast, recognising the strong underlying economic momentum," Moody's said in a report.

The agency, which is currently the only Big Three agency still holding a "AAA" rating for the U.S. after a downgrade by Fitch last month, maintained its 2024 economic growth forecast at 1%, saying high interest rates will drag on the economy.

"We believe it will be difficult for the Fed to achieve a sustained decline in inflation to the 2.0% target while current economic conditions persist," Moody's said in a statement. "In our view, several quarters of below-trend growth are needed to prevent overheating."

On the other hand, the agency said China faces "significant growth challenges" stemming from weak business and consumer confidence amid economic and political uncertainty, ongoing problems in the real estate sector and an aging working-age population.

Moody's maintained its growth forecast for this year at 5%, but cut its 2024 outlook to 4.0% from 4.5% previously. China's rating is at A1 with a stable outlook, four notches below the U.S.' top rating.

"Data from China suggest that the economic recovery from the prolonged zero-rate policy remains muted, as the momentum for renewed growth seen in March, April and May appears to be waning," Moody's said in the report.

"We believe low consumer confidence is restraining household spending, and economic and political uncertainty will continue to weigh on business decisions."

NO MIRACLE IN SIGHT. ECONOMIC DATA FROM CHINA

Dear clients,

Asian stocks fell on Tuesday as weak service sector data renewed fears of a faltering post-pandemic Chinese economy.

The MSCI was down 0.65% at 511.63, moving away from 515.37, the highest level since 11 August, which it reached on Monday.

Futures indicated that the gloomy mood is likely to spread to Europe, with the Eurostoxx 50 futures down 0.21%, Germany's DAX down 0.20% and the FTSE futures down 0.29%.

The recent rally in Chinese equities, fuelled by a series of government measures aimed at supporting the weakening economy, is quickly fading. The CSI 300 blue-chip index fell 0.58% and Hong Kong's Hang Seng fell 1.5% after these markets recorded their best day in over a month on Monday.

Optimism quickly faded after a private sector survey on Tuesday showed that China's service sector activity grew at the slowest pace in eight months in August as weak demand continues to haunt the world's second-largest economy and stimulus measures failed to significantly revive consumption.

Nevertheless, investors are hopeful that Beijing's drip-feed of stimulus will be enough to stabilise the Chinese economy.

In a rare piece of good news for China's crisis-hit property sector, a source close to Country Garden said the company made interest payments on two dollar bonds just as the grace period was due to end on Tuesday.

On Friday, China's largest private property developer received approval from onshore creditors to extend a 3.9 billion yuan ($536 million) private bond.

WEEKLY OUTLOOK: BTC, ETH, XRP

Dear clients,

The world of crypto is seeing some hard ups and downs lately, with both Grayscale ETF approval and SpaceX dumping their crypto assets. This time, we'll be looking Bitcoin, Ethereum and Ripple, what's going on with them now and what may happen further on.

Join us on September 6 at 12:00 GMT.

During webinars, FreshForex analyst will answer your questions regarding the market situation and comment on the latest news.

If you missed the previous webinars, you can always find them on our site.

TWO BENEFITS FOR THE PRICE OF ONE: 101%+CASHBACK

Dear clients,

Summer is over, but that's no reason to be upset, because we have a hot offer for you.

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3.2. Enable the Cashback promotion on your trading account in the Client Area;

3.3. Make a deposit from 101 USD;

3.4. Contact the personal manager with the code word HOT to credit the deposit bonus in the amount of 101%;

4. Bonus funds are used in accordance with the terms of the promotion Drawdown bonus 101%; crediting of spread refund in accordance with Cashback promotion terms.

5. In order to prevent abuse of the promotion terms and conditions, the Company reserves the right to refuse the client this offer without warning at any time at its discretion.

SAVED BY THE GAVEL: BITCOIN'S STARK REVERSAL

Dear clients,

Bitcoin's gains from a U.S. court ruling bolstering the future prospects of funds targeting retail investors saved the cryptocurrency from a disappointing month and instilled renewed optimism about its long-term prospects.

The Securities and Exchange Commission's rejection of Grayscale Investments' proposal was "arbitrary and prejudicial", a federal court said Tuesday, giving the crypto asset manager a landmark victory.

The cryptocurrency surged more than 7% on the news, setting the course for its best day since March and cutting some of the heavy losses suffered over the summer.

Plagued by lower demand for risky assets caused by rising U.S. Treasury yields and a drop in volatility during quiet summer trading, bitcoin was on track for its worst month since November 2022 before the ruling, when confusion reigned following the liquidation of the FTX exchange. Its monthly losses are now around 5%.

Investors said Grayscale's victory will likely now factor into future SEC rulings on spot bitcoin fund ETFs filed by several major financial firms this year, including the world's largest asset manager BlackRock.

The emergence of spot bitcoin ETFs could help the cryptocurrency industry tap into a large amount of previously untapped funds from retail investors, which in turn would help boost the bitcoin price.

TRADING SIGNALS: NFP FOR AUGUST

Dear clients,

On September 1, we are expecting the publication of data on Nonfarm Payroll, a measure of U.S. manufacturing employment. The report significantly affects the movement of the US dollar and related instruments.

What indicators are expected this time, let's find out from our expert:

The leading employment indicators from ADP and ISM point to the release of weak Non-Farm Employment data, which is negative for the US dollar, as this situation allows the US Fed to keep interest rates at the current level. On Friday, consider selling USDZAR, USDCAD and buying AUDUSD, XAUUSD.

Get ready to harvest with 101% bonus!

CAUSE AND EFFECT: GRADUAL RECOVERY OF THE OIL MARKET

Dear clients,

Oil prices were about to break a two-week losing streak as they rose for the fourth consecutive session on Friday on the back of supply cuts and expectations that the OPEC+ group of oil producers will extend production cuts until the end of the year.

West Texas Intermediate (WTI) crude rose 21 cents, or 0.3%, to $83.84 a barrel, while Brent crude was up 26 cents, also up 0.3%, to $87.09 a barrel as of 0605 GMT. For the week, WTI is up more than 5% and Brent is up about 3%.

Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million barrels a day for October, adding to cuts by the Organization of the Petroleum Exporting Countries.

"We continue to expect production cuts to be extended and prices above $90 per barrel (on a sustained basis) will be required to attract OPEC supply to the market, as well as incentivize U.S. shale oil producers to increase drilling activity," National Australia Bank said in a client note on Friday.

U.S. crude inventories fell by a more-than-expected 10.6 million barrels last week, government data showed Wednesday. Commercial crude inventories have fallen by 34 million barrels since mid-July.

Traders and investors often view changes in U.S. inventories as a proxy for changes in the balance of global production and consumption, and spot prices and quotes may rise if inventories continue to deplete.

"Signs of increased demand have also been evident in the commodities market, with implied gasoline demand rising for the first time in three weeks," ANZ said in a research note on Friday.

A weakening US dollar, which looks set to end a six-week winning streak, also helped prices. A stronger dollar puts pressure on demand for oil, making the commodity more expensive for buyers holding other currencies.

A survey showing renewed growth in Chinese factory activity and Beijing's measures to support China's weakened housing market also helped boost oil prices on Friday as traders hoped it would stimulate demand in the world's second-largest oil-consuming country.

THRILL RIDE: BITCOIN'S EXTRAORDINARY FALL

Bitcoin's extraordinary fallBitcoin hit a new two-month low on Friday, breaking out of its recent narrow range amid a wave of negative sentiment sweeping global markets.

Bitcoin fell 7.2% last Thursday, the biggest one-day drop since November 2022, when the leading FTX exchange collapsed.

It then fell to a two-month low of $26,172 in Asian trading on Friday, the lowest since 16 June.

A wave of sell-offs gripped global markets, with major Wall Street indexes closing lower on Thursday and Asian stocks starting a third week of losses due to concerns about the health of China's economy and fears that US interest rates will rise longer given the economy's resilience.

Ether, the second-largest cryptocurrency, remained steady at $1,685.20, also falling sharply on Thursday.

Some analysts attributed the cryptocurrencies' fall to a Wall Street Journal report that Elon Musk's SpaceX sold its bitcoin holdings, writing down their value by $373 million. Musk is influential among crypto-enthusiasts, and bitcoin prices have previously fluctuated in response to his tweets.

Bitcoin has held near the $30,000 mark in recent months, gradually recovering this year after a sharp drop in 2022 when various cryptocurrency companies collapsed, leaving investors with heavy losses.

Cryptocurrency markets got a boost in June as BlackRock applied to launch a spot bitcoin exchange-traded fund (ETF) in the US. Some investors took the move as a sign that the US Securities and Exchange Commission would approve applications to launch a spot bitcoin ETF from various asset managers, including Grayscale.

THE SUSPENSE OVER JACKSON HOLE

Dear clients,

A sharp rise in US Treasury yields is sending shivers through risky areas of the market, leaving investors wondering how bad the damage will be to a rally that has lifted everything from equities to bitcoin this year.

Strong economic growth has fuelled expectations that the Federal Reserve will raise rates for longer, pushing Treasury yields this month to their highest level since 2007. The rise has made it harder for holders of stocks and other speculative assets to ignore their gains, which have continued for most of the year even as yields have steadily risen.

The S&P 500 index lost 4% this month as the yield on 10-year U.S. Treasuries rose to a more than 15-year high of 4.35% on Monday. At the same time, the S&P 500 technology sector fell 5.7%, bitcoin fell more than 10%, and the ARK Innovation ETF, a bastion of many high-growth companies, fell 18.5%. Stocks generally rose on Monday, with the S&P 500 index up 0.7% for the day.

Rising Treasury yields, which change inversely with Treasury bond prices, can take the gloss off speculative assets by offering investors attractive payouts on investments that are considered essentially risk-free because they are backed by the U.S. government. Rising rates also raise the cost of capital in the economy, making it harder for everyone from individuals to companies to service debt.

The most important test for markets will be the annual meeting of central bankers in Jackson Hole. On Friday, Fed Chairman Jerome Powell is scheduled to give a speech on the economic outlook.

According to the latest weekly Refinitiv Lipper data, US investors were net sellers of equity funds for the third consecutive week in the seven days to 16 August. At the same time, they were attracted by strong returns in money market funds, which attracted about $32.5bn in the past week, the largest inflows since 5 July.

Investor positioning in the equity market fell for a fourth straight week to a two-month low, according to Deutsche Bank data.

However, bets against equities have been losing ground this year. Many investors believe equities will hold strong this year, which has seen them rebound from widespread fears of recession and turmoil in the banking sector. The S&P 500 index has gained 14.6% over the past year. Goldman Sachs strategists said Monday that the volume of stocks held by retail and institutional investors is below historical norms, suggesting the bull market may have additional fuel left if the economy remains strong.

EXPLORING THE NEW NATIONAL CURRENCIES

Dear clients,

More choices never hurt and just recently FreshForex introduced new Asian and African options. This time, we'll be checking out new national currencies.

Join us on August 23 at 12:00 GMT.

During webinars, FreshForex analyst will answer your questions regarding the market situation and comment on the latest news.

If you missed the previous webinars, you can always find them here.

BY A BOOTSTRAPS. RATE CUT BY CHINA'S CENTRAL BANK

Dear clients,

China's central bank unexpectedly cut its key rate for the second time in three months on Tuesday, signalling again that the country's authorities are stepping up efforts to ease monetary policy to stimulate a faltering economic recovery.

Analysts said the move opened the door for a possible cut in China's benchmark lending rate next week.

Market watchers said slower credit growth and higher deflation risk in July necessitated additional monetary easing measures to stem the slowdown in the economy, while default risks of some housing developers and a payment miss by a private asset manager also affected confidence in the financial market.

The People's Bank of China said it cut the rate on one-year medium-term loans worth 401 billion yuan ($55.25 billion) to some financial institutions by 15 basis points to 2.50% from 2.65% previously.

The medium-term rate serves as a benchmark for the benchmark rate, and markets largely use the medium-term rate policy as a precursor to any changes in credit benchmarks. The monthly fixing of the base rate is due next Monday.

The central bank also lent 204 billion yuan in seven-day reverse repayment deals, lowering borrowing costs by 10 basis points to 1.80% from 1.90% earlier, it said in an online statement.

China remains an exception among global central banks as it has loosened monetary policy to support a stalled economic recovery, while other countries are in a tightening cycle struggling with high inflation. Tuesday's rate change widened the yield gap with other major economies, particularly the U.S., putting pressure on the yuan and risking capital outflows.

FUTURES SECURED. COINBASE' LEGAL TRIUMPH.

Dear clients,

Coinbase Global announced on Wednesday that it has received permission to offer cryptocurrency futures to retail customers in the United States, in a major victory against a lawsuit by the US Securities and Exchange Commission (SEC).

The move will allow Coinbase to offer bitcoin and ether futures directly to eligible US customers. Until now, only the company's institutional clients have been able to trade such products.

Coinbase shares rose 3% to $81.55 after receiving approval from the National Futures Association (NFA), a separate regulatory organisation authorised by the Commodity Futures Trading Commission (CFTC).

"This is a critical milestone that reaffirms our commitment to operating a regulated and compliant business," Coinbase said in a statement.

The company has openly criticised the SEC, which in a June lawsuit accused Coinbase of illegal activity because it failed to register as an exchange.

CEO Brian Armstrong also said that an unfriendly regulatory environment could cause more U.S. cryptocurrency companies to go offshore, and SEC Chairman Gary Gensler's coercive approach could stifle innovation in the industry.

The NFA approval, which came nearly two years after Coinbase's filing, could allow the company to enter a largely untapped market.

The global derivatives market accounts for nearly 80% of the entire cryptocurrency market, and bets on futures and other leveraged derivatives are often the cause of volatility in the broader market.

MORE CURRENCIES, WIDER OPTIONS

Dear clients,

Trading is becoming even more convenient, our set of available currencies in which you can deposit and hold an account has received a major update:

National currencies: Malaysian ringgit (MYR), Nigerian naira (NGN), Tanzanian shilling (TZS), Kazakhstani tenge (KZT) and South African rand (ZAR)

The list of cryptocurrencies has also been expanded. All presented options are sought-after coins with high capitalisation:

Cryptocurrencies: Tether (USDT), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Binance Coin (BNB), Cardano (ADA)

Deposit in the way that suits you!

HOUSE DIVIDED. FED MEETING MINUTES

Dear clients,

At the US Federal Reserve meeting held on July 25-26, opinions on the need for further interest rate hikes were divided: "some participants" pointed to the risks to the economy from excessive rate hikes, while "most" policymakers continued to favour fighting inflation, according to the minutes of the meeting published on Wednesday.

"Participants remained determined to bring inflation down to the target level of 2%," said the minutes of the meeting, at which Federal Open Market Committee policymakers unanimously decided to raise the benchmark overnight interest rate to a range of 5.25%-5.50%. "Most participants continue to believe that inflation is subject to significant upside risks, which may warrant further monetary tightening".

However, cautious views on the implications of further monetary tightening played a more prominent role in the discussion at last month's meeting, suggesting a widening spread of views at the Fed as policymakers weigh the evidence of lower inflation and assess the potential damage to jobs and economic growth if rates are raised more than necessary.

The group also "discussed a number of risk management considerations that could affect future policy decisions," the minutes said. While the majority of the panel acknowledged inflation as the main risk, "some participants noted that while economic activity had been resilient and the labour market remained strong, downside risks to economic activity and higher unemployment remained."

Overall, the minutes said, Fed policymakers agreed that uncertainty remained high and that future interest rate decisions would depend on a "body of" data that would arrive in the "coming months" that would "help clarify the extent to which the disinflation process continues," which could signal a more patient approach to further increases in borrowing costs.

MUCH CHEAPER — OIL WITHOUT SWAPS UNTIL MAY 31

Dear clients,

We're glad to tell you that until the end of May your favorite promotion is extended. We cover your costs of transferring positions to the next day.

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TRADE RIGHT FROM YOUR BROWSER!

Dear clients,

Now you have an opportunity to trade in the popular platform MetaTrader without installing any programs.

Use a web version of terminal to perform trading operations through any browser on any operating system. All you need is Internet connection.

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BASICS FOR BEGINNERS

Dear clients,

Are you looking for good materials about trading? Want to earn but don’t know how?

Join the webinar on May 6 at 12:00 GMT, we are going to learn various ways to earn a decent income in the Forex market. This webinar is suitable for everyone.

You may ask FreshForex analyst any questions about market situation or discuss the latest analytical news on the webinars.

To take part in the webinar use this link and log in. You can also see all the previous webinars here.

Join the webinar and start trading more effective with FreshForex!

DOUBLE ATTACK AGAINST SWAP CHARGES

Dear clients,

This is a two-way attack on swap charges!

From May 6, Metals without swaps join to the Energy without swaps.

Trade fuel and metals, and we cover your costs of transferring positions to the next day.

Gold and silver are still the most popular instruments. In addition to the usual CFDs for precious metals against the US dollar, the precious metals against the AUD and the EUR are also available to our clients to trade.

Until May 31, for all Brent, WTI, GAS, XAUUSD, XAGUSD, XAUEUR, XAUAUD, XAGAUD instruments on all types of accounts, swap and SwapFree commission are not charged.

And if you enable Cashback promotion, you will keep costs down on spread to 20 dollars for 1 lot.

Time to trade and earn! Now it's easier with the web trading platform.

FOCUS ON STOCK INDEXES: ECB RATES DECISION

Dear clients,

The European Central Bank is a global financial institution that regulates the entire Eurozone credit and financial policy. For this reason, the ECB Interest Rate Decision causes high volatility in the financial markets.

The publication of the ECB Interest Rate Decision will be held on April 30 at 11:45 GMT. Leading FreshForex analyst tells what to expect from the ECB decision:

"The ECB will point out the need to maintain low interest rates until the end of this year, as the economy needs stimulus during the COVID-19 epidemic. This is good news for European stock indexes. On Thursday consider buying #DAX30, #CAC40"

Earn from strong news with FreshForex!

ALL FOR ECONOMICS: FED'S RATES DECISION

Dear clients,

On April 29 at 18:00 GMT US Federal Reserve System announces its rate decision. This key event of April influences the financial markets and gives the excellent opportunity to earn!

Check out trading forecast:

“FED will note a decrease in inflation and the need to maintain low-interest rates during this year. The COVID-19 epidemic is forcing the Federal Reserve to actively stimulate the economy. This is a negative signal for the dollar and positive for stock markets. On Wednesday consider buying AUDUSD, GBPUSD, #Apple, #MasterCard, #SP500, #DJI30”

Prepare for volatile market in advance and double your deposit before Fed Minutes release!

ART OF PRICE ACTION TRADING

Dear clients,

Do you want to study price movements?

Join to webinar on April 29 at 12:00 GMT, we are going to master the art of price action trading! We will look at the steps a trader should following when using the price action trading as a strategy.

You may ask FreshForex analyst any questions about market situation or discuss the latest analytical news on the webinars.

To take part in the webinar use this link and log in. You can also see all the previous webinars here.

Join the webinar and start trading more effective with FreshForex!

HOW TO INVEST IN OIL AMID THE COVID-19 CRISIS

Dear clients,

Oil prices are changing extremely amid of the coronavirus crisis. How to invest in oil?

Join the webinar on April 22 at 12:00 GMT, we are going to look at the most appropriate way one can invest in oil during the current Covid 19 Crisis. This webinar is suitable for everyone.

You may ask FreshForex analyst any questions about market situation or discuss the latest analytical news on the webinars.

To take part in the webinar use this link and log in. You can also see all the previous webinars.

Join the webinar and start trading more effective with FreshForex!

ROLLERCOASTER IN THE MARKETS

Dear clients,

Oil and stock markets amid the coronavirus and the "oil war" are experiencing sharp drops and subsequent growth. Together with them, the major currencies fluctuate — the dollar and the euro.

However, after the shake, #WTI oil and the US stock market expect positive prospects. Check out the forecast:

#WTI

"Today will take place a quarterly expiration of options for the American WTI oil grade. After expiration, a reverse trend is observed. As oil has fallen in the past few weeks, today we should expect growth in quotations. Investors will fix their positions, which will call a correction in the market. Trading recommendation: Buy #WTI, take profit 28.44"

#SP500

"US President Donald Trump said the medicine Remdesivir shows excellent results in the fight against coronavirus. Soon this drug will be available to everyone, which will defeat the COVID-19 epidemic. This is positive news for the US stock market. Trading recommendation: Buy # SP500, take profit 2540"

Support your capital with "101% for each deposit" promotion!

QUARANTINE-FREE TRADING

Dear clients,

During a coronavirus pandemic, people need comprehensive support. Continue to do what you love without leaving your home! Follow the market situation with an extensive encyclopedia, daily trading forecasts, thematic webinars and analytics in Telegram.

All analytical and training materials you can find for free at this link. The distance learning section is available in 15 languages.

Not sure how to start trading?

— open a trading account in the company;

— fund your account enabled to the Drawdown bonus 101% promotion, and double your deposit;

— download one of the trading terminals (Metatrader4, Metatrader5) for a PC or smartphone;

— join Telegram-channel with trading signals.

For all clients of the company, we ran "Cancel swaps on indexes", which will help you to significantly earn on high volatility.

And we wait for you at our webinars every week!

101% FOR EACH DEPOSIT UNTIL MARCH 31

Dear clients,

High volatility continues to dominate the markets. At the numerous requests of clients, we extended the promotion 101% for each deposit from $500 to March 31.

Don't be afraid of unrest in the markets: the bonus will support your account during a drawdown and will increase your trading volume.

Get the bonus again and again!

TRADING SETTINGS: WAYS TO SET STOP LEVELS

Dear clients,

Don't want to see stop loss on your opened positions?

Join the webinar on March 18 at 12:00 GMT, we will look at various ways to set stop levels in the forex market. In particular, we consider the Average true range indicator and how we can use it to set stop loss and take profit in the forex market.

You may ask FreshForex analyst any questions about market situation or discuss the latest analytical news on the webinars.

To take part in the webinar use this link and log in. You can also see all the previous webinars here.

Join the webinar and start trading more effective with FreshForex!

INTEREST RATE URGENT DECISION

Dear clients,

The US Federal Reserve held an unscheduled meeting on March 15. This event is of great importance not only for the US economy but also for world markets, since the American dollar plays the role of the main reserve currency.

Check out the trading forecast of leading FreshForex analyst:

"The Fed held an unscheduled meeting where it lowered the discount rate by 1%. The Federal Reserve softens credit conditions so that the US economy gets support during the coronavirus epidemic. This is a negative signal for the dollar. Today consider buying EURUSD, GBPUSD and Sell USDJPY"

Subscribe to our Telegram channel and be aware of the main trends!

TIMELY ANALYTICS IN TELEGRAM

Dear clients,

Now global economics is constantly delivering important news. And every day powerful movements take place in the markets. Receive timely information on our telegram channel — analytics, trading signals and comments will always be at hand!

Fund the account with $100 or more and send request to your manager with the subject "Analytics in Telegram". Only over the last month 80% of the signals were positive and helped traders to earn.

Subscribe to our Telegram channel and be aware of the main trends!

EXTREME VOLATILITY: THREE WAYS TO STAY AFLOAT

Dear clients,

The chain reaction of economic shocks continues. In addition to the ongoing news about the coronavirus, news appeared about Russia's exit from OPEC +, which provoked a sharp drop in oil prices and noticeable swings in the Euro and the Dollar.

What can and should a trader do to save his money? Most importantly, do not panic. Fund your account to create an "airbag". And here are three ways to help you withstand strong volatility:

1) Enable Drawdown bonus 101% promotion and receive a bonus for each deposit.

2) Take trading strategy with positive dynamics of profitability, which since the beginning of the year amounted to 30.3%.

3) Insure trades from stop-out — we will refund 50% of the insured funds.

Now you are fully armed!

WEEKLY OUTLOOK: THREE CURRENCY PAIRS WITH USD

Dear clients,

In the webinar, which will start on March 11 at 12:00 GMT, we're looking at a brief outlook of the EURUSD, GBPUSD, USDJPY pairs. Also we'll consider possible setups for weekly traders and ways how to correlate these threes.

You may ask FreshForex analyst any questions about market situation or discuss the latest analytical news on the webinars.

To take part in the webinar use this link and log in. You can also see all the previous webinars here.

Join the webinar and start trading more effective with FreshForex!

ECB VS CORONAVIRUS. DEPOSIT RATE DECISION

Dear clients,

The European Central Bank is a global financial institution that regulates the entire Eurozone credit and financial policy. For this reason, the ECB Interest Rate Decision causes high volatility in the financial markets.

The publication of the ECB Interest Rate Decision will be held on March 12 at 12:45 GMT. Leading FreshForex analyst tells what to expect from the ECB decision:

"The ECB may announce a reduction in the deposit rate by 0.1%, since the coronavirus COVID-19 is spreading rapidly in the Eurozone. Lower rates will negatively affect the value of the euro. On Thursday, it is preferable to open Sell positions on EURUSD, EURGBP, EURAUD"

And here are three ways to stay afloat during strong volatility.

NNON-FARM PAYROLLS: WHAT DO WITH STOCK MARKET ASSETS?

Dear clients,

On March 6 at 12:30 GMT Non-Farm Payrolls is to be released.

This report shows changes in number of people employed in USA non-farm sector. Total number of people employed in this sector is about 80% of workers producing USA GDP.

If the data increase, the dollar price rises too. Therefore, it is also called the "indicator that moves the markets".

Learn what FreshForex analyst tells about it:

"The ISM employment rate for the service sector, which is usually the leading indicator of Non-Farm, was at 55.6 in February, the highest level for the past seven months. We expect the release of positive data, which will positively affect the stock market assets. On Friday consider buying #Apple, # MasterCard, # SP500, # DJI30"

And we also extended the cancel of swaps on indexes until March 31!

WORKING METHOD FOR TRADING

Dear clients,

High volatility and coronavirus news continue to dominate markets, and traders seek stability and certainty.

Our trading strategy is not afraid of coronavirus and doesn't depend on season. Starting this year profitableness was 30,3% — positive results are registered in January and February.

Trading with this strategy takes three minutes and will bw suitable for starting and active traders.

What does strategy include?

— level of position opening;

— Take Profit and Stop Loss levels.

The average Take Profit is 2.2 times more the average Stop Loss, it means, that the strategy is profitable.

Receive the strategy in two steps:

1) Fund the account with 50$ or more from March, 4 to March 31, 2020.

2) Send e-mail to school@freshforex.com, where you have to specify your trading account number, funded with 50$ or more.

Trade confidently with a profitable strategy!

EVENT OF THE WEEK: NON-FARM PAYROLLS

Dear clients,

On Friday, March 6, the February nonfarm Payrolls will be released. For this reason, the main theme of the webinar will be "how to prepare for NFP trading".

Join the webinar on March 4 at 12:00 GMT, we’ll look at a simple strategy you could use to trade NFP.

You may ask FreshForex analyst any questions about market situation or discuss the latest analytical news on the webinars.

To take part in the webinar use this link and log in. You can also see all the previous webinars here.

Join the webinar and start trading more effective with FreshForex!

101% DRAWDOWN BONUS AGAIN AND AGAIN UNTIL MARCH 9

Dear clients,

There is a high volatility on financial markets — it's time for big earning. Receive 101% bonus for every deposit from $500 until March 9 and use it to your advantage.

These funds allows you to increase trading volume, with it you may not be afraid of drawdown. Enable one of your trading accounts to the promotion and receive bonus for profitable trading.

Big bonus for big trades!

WHAT INDICATORS BETTER TO CHOOSE FOR LONG-TERM TRADING?

Dear clients,

Do you use indicators for trading? What kind of them?

Join the webinar on February 26 at 12:00 GMT, where we'll explore the world of indicators. Also we look at few indicators suitable for long term trading.

This webinar is suitable for everyone.

You may ask FreshForex analyst any questions about market situation or discuss the latest analytical news on the webinars.

To take part in the webinar use this link and log in. You can also see all the previous webinars here.

Join the webinar and start trading more effective with FreshForex!