DXY has shed 7 pips thus far and last sits...>

DOLLAR: DXY has shed 7 pips thus far and last sits at 96.08. WTI and gold trade

virtually unch. on the day. Yesterday, the dollar index finished 15 pips higher,

as it drew support from higher Tsy yields and stronger than exp. U.S. pending

home sales (though countered in some part by soft factory orders and a wider

than expected advance goods trade deficit).

- Yesterday saw a round of testimonies to U.S. lawmakers, made by some of the

country's top officials. USTR Lighthizer said that Sino-U.S. tensions "are too

serious to be resolved with promises of additional purchases," while President

Trump's ex-lawyer Cohen accused his former boss of criminal conduct.

- Fed Chair Powell also testified, noting that the wind down of the central

bank's balance sheet runoff plan will be announced "fairly soon."

- DXY bears eye yesterday's low of 95.88, followed by the 200-DMA at 95.65.

Meanwhile, initial resistance is located at yesterday's high of 96.19, ahead of

96.26, which represents the 50-DMA.

- U.S. focus today turns to GDP, initial jobless claims and comments from Fed's

Clarida, Bostic, Harker & Kaplan. Month-end flows may also play a part.