• 770 days Will The ECB Continue To Hike Rates?
  • 770 days Forbes: Aramco Remains Largest Company In The Middle East
  • 772 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,172 days Could Crypto Overtake Traditional Investment?
  • 1,177 days Americans Still Quitting Jobs At Record Pace
  • 1,179 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,182 days Is The Dollar Too Strong?
  • 1,182 days Big Tech Disappoints Investors on Earnings Calls
  • 1,183 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,185 days China Is Quietly Trying To Distance Itself From Russia
  • 1,185 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,189 days Crypto Investors Won Big In 2021
  • 1,189 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,190 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,192 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,193 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,196 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,197 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,197 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,199 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Silver:Euro

As the euro rips higher today after comments by Jean-Claud Trichet and the newly proposed bailout measures in the struggling euro-zone, it would be wise to watch silver as a proxy for the currency markets. Since silver broke its parabolic formation over a month ago, both markets have been trading with great correlation - with silver leading the way by several sessions. This makes sense in the fact that the silver market is a much shallower and more impressionable market that will trade with greater nuance to the underlying market conditions. Jawboning by the ECB appears to be only momentarily supporting the euro. I would expect the euro to follow suit lower over the next several sessions.

The fact that silver failed to take out the early May dead-cat-bounce highs indicates that the mid May lows will at the very least be tested and likely broken. The violent reversal in silver yesterday confirms that expectation.


Larger Image

 


I just joined Twitter. All my trades and occasional market musings are disclosed in real-time here.

(Positions in UUP & ZSL)

 

Back to homepage

Leave a comment

Leave a comment