NZD underperformed overnight after the.......>

DOLLAR: NZD underperformed overnight after the RBNZ added to the list of dovish

central banks and said the more likely direction of the next rate move is down.

The USD registered modest gains across G10, except the JPY.

- The DXY comfortably closed above the 100-dma (96.56) with gains extending to

96.92. Expect resistance on approach to the 97 level, with a break here needed

to challenge the 76.4% retracement of of the Dec-Jan fall at 97.08.

- Despite a firmer dollar, gold largely consolidated its recent uptrend and

holds in he middle of its $1314-57-1318.61 Asia range. Channel base support

underpins at $1313.72, a break brings the 38.2% retracement of $1280.94-1324.63

& 50-dma into view at $1307.94/85. While on the topside, bulls need to clear the

$1320 level, before challenging the Mar 25 high & channel top at

$1324.63/1331.43.

- WTI and Brent crude have stuck to tight ranges overnight, with both benchmarks

adding modest gains.

- Trade Balance data the main highlight today at 1230GMT. Kansas City Fed

President Esther George gives a speech in New York later at 2300GMT.