The price of eggs has gone up 30% in the last 12 months.  Why the big increase?  Because the things that go into making an egg have gone way up – feed for the chickens, heat, light, and transportation.

The US dollar rocketed higher on Tuesday following a speech by Federal Reserve Chairman Ben Bernanke, in which he issued hawkish commentary and finally commented on weakness in the national currency.

The U.S. ISM Non-Manufacturing release, which accounts for 70% of the economy, is expected to show that the sector expanded for a second month.

The ISM Non-Manufacturing Composite is anticipated to have remained above the 50 Boom/Bust level for a second month at 51.0, but down from last month’s reading of 52.0.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for June 3.

Bill Bonner writes that all the Fed's hard work can be undone by a single day of trading.

This morning risk aversion is high as the equities and carry trade head lower, but USD/JPY has pulled back into a nice technical support level that could offer a tradable bounce.

There is a considerable amount of event risk on the global economic calendar this week, but the US dollar is looking to only a few heavy-hitting fundamental releases for price action.

The RBA rate decision will be closely watched by traders as the central bank left the possibility of a rate hike after they were more hawkish than expected at their last meeting.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for June 2.