5.14 Belt and Road Summit VS Bitcoin Ransomware

Major Events

1. Chinese President Xi Jinping delivered a speech at the opening ceremony of the "Belt and Road Summit" held in Beijing on Sunday (May 14), emphasizing that this economic and trade corridor initiated by China is not a new start, but a "strategic docking" with various countries. In his speech, he pointed out that the "Belt and Road" will develop in cooperation with the economic plans of many countries.

Second, the ransomware Trojan originated from the US NAS (National Security Agency). Hackers stole malware from the NAS and used the EternalBlue vulnerability to attack (port 445 vulnerability). This attack seems to be the most extensive ransomware attack to date.

Personal opinion

From the perspective of global currency competition, the currency that can compete with the US dollar will definitely be a new form of currency in the future. The rise of Bitcoin from a few cents to more than 10,000 yuan now fully demonstrates that it is gradually recognized as a form of currency, which is a huge threat to the US dollar. Many people focus on Bitcoin rather than deeper issues. The timing of the large-scale outbreak of the ransomware is very strange, because the Bitcoin market is currently experiencing a major event. The US Securities and Exchange Commission (SEC) is reaffirming the Bitcoin ETF fund, and the SEC will soon announce the results of the review. If the Bitcoin ETF fund is approved, Bitcoin will officially enter the mainstream financial market, and its legal status in the United States will be further improved.

What impact does this incident have on foreign exchange?

First, Kaspersky Lab released a report on the 12th saying that 74 countries and regions around the world had been attacked, and the actual scope may be wider. The agency said that among the 20 countries and regions most attacked, Russia was attacked far more than other victims, and mainland China ranked fifth. So far, many well-known universities and hospitals in China have been infected by the virus and cannot work normally. Xuanwu believes that other countries will be more serious.

Summarize

Xuanwu believes that the impact of this incident will inevitably cause dissatisfaction among many countries, and some necessary measures may be taken against the hegemonic country, the United States, after all, the culprit is the United States. Next week is destined to be an extraordinary week. Xuanwu believes that any news next week or for a longer period of time should not be missed. There are too many analysts in the market who only focus on technical forms and ignore that there will be occasional emotional days in the financial market, and this day has just arrived.

Focus on the Fed's calendar

If the Fed schedule isn't on your bookmarks list, now's the time to add it. The schedule even highlights the Fed meetings associated with the "Summary of Economic Projections," which includes press conferences with the Fed Chairman.

1. May 18: Weekly unemployment claims report

2. On May 18, the U.S. Department of Labor will release the weekly unemployment benefit claims report, which can also be used as an indicator to measure the overall economic performance.

2. In mid-June, that is, on June 13 and 14, the Federal Reserve will hold a meeting to decide whether to raise interest rates again.

Since gold is one of the most popular safe-haven assets, any factors that affect the overall market will indirectly affect the trend of gold prices. If you pay attention to finance, like foreign exchange, currency and other investments, and don't want your funds to shrink, here I will provide you with an exclusive perspective, maintain independent thinking, and give you advice to preserve the value of your assets. If you encounter troubles on the road of investment; can't find the direction; and are in a long-term loss, you may want to talk to Mr. Xuanwu.