The euro and equities are on a tear as investors look ahead to a possible stimulus package.

Non-farm payrolls fell 598k in the month of January, the largest decline in 35 years. Yet the US dollar rallied against the Japanese yen and all of the higher yielding risk currencies are higher. What is going on?

The US dollar fell versus most of the majors on Friday as US non-farm payrolls fell in line with expectations by 598,000 in January, while the December reading was revised down another 53,000 to -577,000, indicating that the US economy lost a total of 3.57 million jobs in 2008.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for February 6.

Are higher oil prices imminent?

Can the worst of times still be the best of times?

Friday's Non-Farm Payrolls report should continue the persistent and debilitating losses that are the hallmark of a recession.

If job losses and the unemployment rate don’t climb quite as much as anticipated, the news could spark enough optimism to boost demand for stocks and forex carry trades, and subsequently lead the dollar and yen lower.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for February 5.

Once envied, Wall Street bankers are now mocked.