Consolidation largely remained the theme.....>

DOLLAR: Consolidation largely remained the theme through Asia with modest dollar

losses seen across G10, except JPY. The Antipodeans sit top of the pile and

continue to pare yesterday's losses. 

- The DXY comfortably holds above the 98 level tied to a narrow 98.08-14 range.

Bulls will look to clear yesterday's high at 98.20, before challenging the ytd

highs at 98.37. Above here and traders have reported of resistance on approach

to 98.50.

- Gold topped out ahead of $1286 yesterday, before drifting toward $1280 at the

close. The downtrend spilled over into Asia/early Europe touching pullback lows

of $1276.72. Near-term support is seen at $1276.41 from the 61.8% fibo of

$1269.58-1287.47, below here opens the May 21 low at $1269.58, ahead of the

200-dma at $1261.25.

- WTI & Brent both hold toward the peak of their respective 40 pip ranges. 

- Busier schedule on the calendar today with US data release at 1230GMT from Q1

GDP (2nd estimate), Jobless Claims, Core PCE & Wholesale Inventories. Pending

Home Sales follow at 1400GMT. US Fed's Clarida speaks in New York from 1600GMT.