Don’t Click Anything Day

Hi Everybody,

So this gives a whole new meaning to the term Cyber-Monday. Imagine coming into work only to find that your entire workplace has been compromised. A simple message on flashing on the screen says something like.

Your files have been encrypted and will be unscrambled only once you pay a ransom of 1000 BTC to the following wallet: 1MG19cxxSqkj5Rr5itqaQGVcUH6Ty77gp1

All because one employee in the organization clicked a link that he received in the Email. A link that looked legit and he innocently thought it was coming from his boss.

More than 200,000 computers in 150 countries have already been known to be affected by the WannaCry virus and 1.3 million systems are still vulnerable.

As we rely more heavily on computers in our daily lives it is of the utmost importance to remember that we are always at risk of falling victims to cyber crime.

Don’t click on any links or download any attachments without first verifying where they came from and that they are safe to open.

Today’s Highlights

Short the USA

Deal in Oil

Theresa May Live

Market Overview

Stock markets around the world are still pretty flat. It seems like investors are happy with the current elevated levels and are waiting for further news before trucking forward.

Famous investor Jefferey Gundlach made a bold call stating that the US markets are going to underperform in the coming few months and recommended a strategy to short the American Indices and buy the Emerging Markets.

There’s a touch of safe haven playing in the global markets this morning as North Korea performed one of their most provocative tests today.

The missile that they fired this morning landed less than 100 kilometers from Russian territory and Pyongyang has claimed that they are able to attach a nuclear warhead to such a device.

Gold is up ever so slightly on the news, which has given it a good level of support (yellow line) for technical trading. If the support holds, the next target above is around $1300 an ounce.

OPEC Delivers

Oil ministers from Russia & Saudi Arabia have announced that the massive OPEC production cuts that are currently in place will remain all the way through Q1 of 2018.

Most analysts were expecting them to extend the deal for six months so this was a nice surprise for oil bulls. There was indeed a nice rebound off of the lows seen last week and the price is now within familiar territory once again.

The OPEC announcement is both a cause for joy and concern. On the one hand, it’s good to see some action being taken to curb the massive oversupply in the market. On the other, this type of drastic action indicates that the problem may be worse than most people think.

Many traders on eToro are skeptical that oil would be able to maintain even $60 a barrel and very few think that it could reach as high as $100 again.

All investors should watch Oil carefully. As we’ve seen before the global economy runs on the stuff and the energy sector is often a leading indicator of economic growth.

What else?

The Prime Minister of the United Kingdom will be doing a Facebook Live event this evening at 8:00 PM in London. With May refusing to take part in a television debate this may be the best insight the public will be able to get before the elections on June 8th.

The event will be hosted by ITV so you should be able to view it on their page:

A strong conservative party has been seen as a good thing for the British Pound lately. So if Ms. May is able to put up a strong performance tonight we could see some excitement in the GBPUSD.

Lately, the Pound has been struggling against major resistance at $1.30. So a strong breakout of this level could lead to a much stronger Sterling.

Let’s have an awesome day

Join eToro And Trade Bitcoin & Ethereum All the Week  24/7 :-

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. 

Leave a Reply