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In a similar session to Monday the DXY.......>

DOLLAR
DOLLAR: In a similar session to Monday the DXY topped out at 97.74 (50% fibo
98.33-97.14), before giving back light gains ahead of the NY close. The
downtrend extended through Asia and holds towards the base of its 97.43-58
range. Bears need to clear up trendline support off the Apr 2018 lows at 97.13,
before challenging the 97 level & 100-dma at 96.69.
- Broad dollar weakness amid the risk-averse theme has seen gold extend its
rally to $1287.30. Near-term resistance comes in today at $1288.51/72 from the
50% retracement level of $1310.67-1266.35 & Apr 26 high, a break opens the
100-dma at $1295.61, ahead of the psychological $1300 level.
- WTI & Brent trade $0.30 higher, even with reports pointing to a larger than
expected headline crude inventory build in the latest API inventory estimate.
- Quiet on the US calendar today with main focus on a speech by Fed's Brainard
at 1230GMT. 

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