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Security Service of Ukraine (SBU) has shut down several crypto exchanges reportedly involved in illegal financial transactions since the start of 2021. According to a statement by the SBU on Wednesday, the network of “clandestine cryptocurrency exchanges” were based in the country’s capital Kyiv and collectively processed a monthly turnover of $1.1 million in funds linked to criminal activity. The SBU’s announcement claimed that the illegal crypto exchanges provided anonymous transaction services, which made them a money laundering risk. Indeed, Ukraine’s state security service stated that some individuals funneled funds through these platforms to organize protests across the country. According to the SBU, these illegal funds came from e-wallets linked to banned Russian payment processors such as Qiwi, WebMoney and Yandex. Ukraine’s state security service also reportedly recovered computers containing evidence of suspected illegal activity and allegedly forged incorporation documents for the companies during raids of the crypto exchange platforms. The news of the shutdown comes on the heels of a similar raid against a warehouse suspected of diverting electricity to mine cryptocurrency using PlayStation 4 consoles. However, an investigation by Delo, a local business publication, revealed that the facility was being used to generate in-game currency and not for farming crypto. Meanwhile, as previously reported by Cointelegraph, Ukraine’s parliament is considering a new bill to legalize crypto payments in the country. However, the legislative action will not change the status quo of Bitcoin (BTC) and cryptocurrencies not being classified as legal tender in Ukraine. The country’s central bank is also working on a national digital currency project. The National Bank of Ukraine received official authorization to issue a central bank digital currency (CBDC) back in July. The Ministry of Digital Transformation partnered with the Stellar Development Foundation on a joint strategy for digital assets and CBDCs.

Forex News - NZD/USD jumps to 0.7055 as the US dollar slides across the board US dollar drops across the board after US CPI data. NZD among top performers on Wednesday, supported by RBNZ expectations and risk appetite. The NZD/USD jumped from 0.7000 to 0.7055, reaching the highest level since Friday following the release of US inflation numbers. The pair then pulled back, finding support at 0.7035. The kiwi is consolidating the rebound from the 20-day simple moving average that stands at 0.6980. AUD/NZD is back at the monthly low at 1.0455. US data triggers dollar’s slide The Consumer Price Index grew at an annual rate of 5.4% in July, the same of June (highest in 13 years). The CPI rose 0.5%, in line with market expectations. The greenback dropped sharply across the board after the numbers, amid a rally in US Treasuries. Also higher equity prices contribute to weaken the US dollar. If expectations about a sooner-than-expected taper from the Federal Reserve gain more intensity, the dollar could recover momentum. Still, analysts at Westpac consider the kiwi should be more resilient than most developed currencies to USD strength given New Zealand’s strong fundamental outlook. “Multi-month, the NZD is supported by the NZ economy’s expected strength over the remainder of this year, the RBNZ’s signalled rate hikes, NZ-US yield spreads, and a positive outlook for NZ commodity prices. Our year-end forecast for NZD/USD is 0.74 (which is coincidentally where our estimate of fair value currently is)”, argue Westpac analysts.

In the world of forex trading, there are no guarantees on profit, and risk exposure is inevitable. A professional forex signals service provider will never try to trick its users by advertising guaranteed profits and returns. On the other hand, the trusted names in this sector will be transparent about their performance, offering you insight into their past performance by publishing reports on how effective their signals were. Frequency and diversity in forex signals The ideal forex signals’ service provider for you should publish an adequate number of forex signals and trade ideas through the day and offer a good mix of trading instruments, including the ones that you like to trade the most as well as other options so that you can diversify your trading portfolio and experiment with new instruments to spread out your exposure. In addition to trade ideas offering a variety of instruments, an ideal provider should also offer a good mix of long-term and short term signals so you can try different kinds of trading strategies, such as swing trading and intraday trading. Clarity into past performance Their performance reports should offer the following information – how many signals they published over a specific period of time, e.g. one year, the percentage of wins vs. losses, drawdowns, the number of pips generated or earned by their forex signals, as well as details about gains in percentage terms over the past few years. Of course, keep in mind that past performance is never an assurance for future profits. However, a forex signals’ service provider that is honest about its wins and losses, and gives you the numbers so you can assess its performance is far more reliable than those that make empty, lofty promises of doubling your money. When tracking the performance of the signals provider, there are a few important things that you need to assess. Of course, the overall profit raked in by their trading signals is a great way to know how useful their service will be for you, but you also need to dig a little deeper to assess their performance. The total number of pips earned by the forex signals is an important measure of how exactly the profits were generated, for instance, did they come from a few pips on high risk/high margin signals or in the form of a higher number of pips from signals with different levels of risk/exposure. In addition, you should also check to see if the signals provider offers details on their win rate – the number of winning signals from the total number of signals published. Quantity vs. quality of signals It would also be helpful if the provider offered a breakdown of the number of signals published and the profit to loss ratio for each kind of instrument they cover. In addition, a deeper insight detailing the breakdown of the trading signals based on buying vs. sell, long term vs. short term, and different types of instruments, e.g. forex, commodities, cryptocurrencies, and indices, can also go a long way in helping you make an informative decision on selecting the right forex signals service provider. Timing matters The best forex signals provider for you should be one that publishes enough trade ideas through the hours when you are most active. For instance, if you like to trade the US session markets, there is no need to go with a provider that pushes more signals during the Asian session, which are too many missed opportunities as far as you are concerned. In addition, ensure that the provider has a reliable way to alert you whenever a new forex signal is published so you can choose to act on it immediately. The more time you lose in making a trading decision, the lower the possible returns become as other traders may beat you to it. I will recommend Hot Forex Signal as a professional Forex signals provider.

Forex News - EUR/GBP remains poised to extend losses toward 0.8550 ahead of critical UK data EUR/GBP continues to trade lower following the previous momentum. The Euro remains muted on downbeat economic data. The sterling gains on Brexit optimism and BOE’s hawkish view. EUR/GBP prints some minor gains in the Asian trading hours on Thursday. The pair confides in a very narrow trade band with no meaningful traction. At the time of writing, EUR/GBP is trading at 0.8464, up 0.07 % for the day. The shared currency continues to decline against the pound after the Bank of England’s (BOE) hawkish stance in its latest policy meeting. The ZEW indicator of Economic Sentiment for Germany fell to 40.4 in August, much below the market forecast of 56.7. Meanwhile, investors anticipated that the European Central Bank( ECB) will remain dovish after the central bank decided to keep its interest rate at record low levels for an even longer time to meet its inflation target of 2%. On the other hand, the sterling gained traction after Lord and former Tory MEP Daniel Hannan said that Britain has successfully managed the vaccine purchase program while the EU messed it up quite badly, in its first real test of post-Brexit challenge. Investors cheered up the Bank of England (BOE) inflation projections and eventual rate hikes in 2022. As for now, investors are waiting for the critical UK data: Balance of trade, Business Investment, and GDP Growth Rate to gauge the market sentiment.

Forex News - NZD/USD remains steady around 0.7000 as USD weakness limits downside NZD/USD is moving sideways around 0.7000 on Friday. US Dollar Index pushes lower toward 92.80 ahead of American session. UoM Consumer Sentiment Index data from US will be looked upon for fresh impetus. After losing more than 40 pips on Thursday, the NZD/USD pair seems to have gone into a consolidation phase on Friday and was last seen rising 0.12% on the day at 0.7007. Falling US T-bond yields weigh on DXY The renewed USD weakness ahead of the American session seems to be helping NZD/USD stay in the positive territory. Pressured by a more-than-1% decline witnessed in the benchmark 10-year US Treasury bond yield, the US Dollar ındex is losing 0.18% on a daily basis at 92.82. Earlier in the day, the data from New Zealand showed that the Business NZ PMI improved to 62.6 in July from 60.7 in June. This reading came in better than the market expectation of 56.6 but failed to trigger a noticeable market reaction. The University of Michigan's preliminary Consumer Sentiment Index data for August will be the last data of the week featured in the US economic docket. Investors expect the index to stay unchanged at 81.2 following July's modest decline. Although an upbeat reading could help the USD gather strength ahead of the weekend, NZD/USD is unlikely to make a sharp move in either direction amid thin trading conditions.

USD/CHF Price Analysis: Upside momentum subsides near-critical resistance around 0.9240 USD/CHF prints minute losses on Thursday in the Asian session. Bulls find it hard to break the 0.9240 multiple resistance barrier. Momentum oscillator remains firm with a neutral stance. USD/CHF edges lower on Thursday in the Asian trading hour. The pair hovers in a very close trading range with a downside momentum. At the time of writing, USD/CHF is trading at 0.9216, down 0.02 % for the day. On the daily chart, the USD/CHF pair has been trading in a broader trading channel of 0.9030 and 0.9040 since June 18. If the price breaks the session’s low, it could test the lower targets at the 0.9195 and the 0.9160 horizontal support levels. A daily close below the 20-day Simple Moving Average (SMA) would bring the low of July 15 at 0.9117 back into action. Alternatively, the Moving Average Convergence Divergence (MACD) trades above the midline with a neutral stance. Any uptick in the MACD would force the bulls to continue to march higher toward the previous day’s high at 0.9242. A closing of above 0.9240 would mark the breaking of the long-term trading range with an eye for the 0.9260 horizontal resistance level followed by the level last seen in April. Next, the market participants would aim for the high of April 9 at 0.9281.

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