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

Friday's US Non-Farm Payrolls release could shake up Federal Reserve rate cut probabilities.

Despite the volatility of the credit crunches, subprime bust, CDOs, SIVs and more billion-dollar writedowns than you can shake a stick at, 2007 will go down in the books as a positive year for the markets.

The US dollar weakened against every major currency with the exception of the British pound. The selling was triggered by the manufacturing ISM report which suggested that the manufacturing sector could be in a recession and also indicated that the dollar’s weakness is not helping exports.

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

The trade weighted dollar index fell 10 percent this year, but against the Euro specifically, the dollar lost 13 percent of its value. On the last trading day of the year, the dollar is firmer, but that strength is not broad based.

Futures markets show a 90 percent chance that the Fed will cut rates by 25bp, and this will continue to be reflected in price action in the FX, bond, and equity markets upon more evidence of deteriorating economic conditions.

Currency strategist Boris Schlossberg analyzes the major currencies for the week of December 31.

Tim Bourquin interviews Allan Harris, who talks about how he trades the news.

What is the recommended loss percentage in a trailing stop?