Risk-on was the overriding theme overnight...>

DOLLAR: Risk-on was the overriding theme overnight after the release of strong

Chinese PMI data. NZD & AUD sit top of the G10 pile at the European crossover,

JPY at the bottom.

- Pullback in the DXY based ahead of 97.00 Friday, before settling around 97.25

at the close. An uneventful Asia session has seen the index drift lower, holding

toward the base of its 97.11-26 range. Topside focus remains on a break of the

Mar 11 high at 97.45, above here opens a run at the ytd highs of 97.71. Bears

need a break of the 97.00 level to bring the 38.2% fibo of 95.74-97.34 & 100-dma

back into view at 96.73/57.

- Gold failed to recover the $1300 level on Friday and has since drifted to

largely hold between $1290-1294. The 100-dma provides initial support at

$1281.13, a break opens the Mar 7 low at $1280.94.

- Risk-on flows lent support to crude overnight with Brent & WTI registering

solid gains.

- Retail Sales (1230GMT) & ISM Mfg (1400GMT) the main highlights today.