The dollar has largely consolidated..........>

DOLLAR: The dollar has largely consolidated yesterday's strong gains following

Fed Bullard remarks that he would not support a 50bp cut in July. The DXY

cleared 96.00 on react and currently settles toward the upper end of its

96.15-32 Asia range. Bulls need to recover the 200-dma & 50% fibo of 97.76-95.84

at 96.65/80 to reignite upside momentum.

- Gold technicals were looking very stretched yesterday and the yellow metal has

seen a sharp $36 retracement toward $1403. The $1400 level remains critical for

bulls, failure to hold returns the focus to the Jun 21 low at $1382.62.

- Oil continues to firm with both WTI & Brent up over $0.50 at typing.

- 10y UST yields failed to take out the Jun 20 low and has since recovered back

above $2.00. The 50% retracement of the recent downtrend comes in today at

$2.0238.