DXY has added 2 pips this far and last.......>

DOLLAR: DXY has added 2 pips this far and last deals at 97.50. Participants

await the FOMC MonPol decision, due later today, as well as the accompanying

press conference with Fed Chair Powell. For our FOMC preview see

https://emedia.marketnews.com/Federal_Reserve_-_May_2019.pdf

- WTI last trades ~$0.6 lower, with gold sitting ~$3.3 lower.

- The greenback finished as the second worst G10 performer yesterday, with the

dollar index falling 38 pips, as month-end flows triggered broad-based USD

weakness. MNI Chicago PMI slowed to 52.6 from 58.7, but subsequent releases of

better than exp. cons. conf. & pending home sales data translated into an uptick

in DXY, which was nonetheless erased towards the close.

- DXY bulls need a recovery of yesterday's losses towards 97.89, which

represents yesterday's peak. A breach of that level would open up the prospect

of a return above the 98.00 mark. Meanwhile, bears keep an eye on the 21-DMA at

97.38 and a fall below would expose the 50-DMA, which comes in at the

psychological 97.00 level.

- U.S. m'fing PMI and ISM m'fing, due later today, provide the data highlights.