DXY last sits at 96.41, 12 pips lower on.....>

DOLLAR: DXY last sits at 96.41, 12 pips lower on the day (albeit off of worst

levels), after U.S. President Trump said that USD is currently too strong and

criticised FOMC policy under Powell. The weekend also saw WSJ & BBG report that

the U.S. & China reached a breakthrough in bilateral trade talks and are close

to signing a deal, which would end their trade war. WTI has added ~$0.30, while

gold trades ~0.25% higher at writing.

- On Friday, the dollar index finished 37 pips higher, as higher U.S. Tsy yields

provided support to the greenback, allowing it to bounce from intraday lows,

touched on the back of softer than exp. ISM, U. of Mich. sentiment & Markit

m'fing PMI.

- DXY bears look for a break below 96.25, which represents the 50-DMA, which

would allow them to target 96.07, where the index bottomed on Friday. Meanwhile,

bulls look to the 100-DMA at 96.47, and a breach of that level would bring the

21-DMA/Friday's peak at 96.52/55 into play.

- The U.S. economic docket is very light today, and includes construction

spending data.