In the vaults of various central banks around the world lies $4.8 trillion worth of foreign currency reserves -- the fruit of selling oil and widgets, mainly to U.S. consumers.

Non-farm payrolls for the month of June are due for release this Thursday, but with the Federal Reserve no longer looking to cut interest rates, will the degree of payroll growth actually have meaningful impact on the US dollar?

There is little doubt in the markets that the European Central Bank will raise rates on Thursday, as ECB President Jean-Claude Trichet remains the most hawkish central banker around.

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

Unemployment is rising. And now, carpenters, plumbers and even granite countertop installers are getting jobs with the banks. They're finding work maintaining foreclosed houses.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for July 1.

Things are pretty bleak on the major index stock charts, with the Dow Jones Industrial Average officially hitting a down 20% bear market from its October 2007 high.

The combination of '30s-style asset deflation and '70s-style consumer price inflation has spooked investors everywhere.

The Institute for Supply Management is expected to report at 10:00 ET that their survey of conditions in the manufacturing sector held below 50 – signaling contraction – for the fifth consecutive month at 49.0.

John Mauldin looks at whether we should be worried about inflation, takes a mid-year check on the economy, and muses on the malaise in the stock market.