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The dollar is currently registering modest...>

DOLLAR: The dollar is currently registering modest gains across G10, underpinned
by firmer US equity futures & UST yields. The DXY pared yesterday's losses with
gains extending back above the 98.00 level. Near-term resistance is seen at
98.10 from the May 3, Apr 29 highs, above here opens the double top resistance
area at 98.30/35.
- Gold holds toward the base of its $1275.21-1279.00 overnight range. Recovery
efforts have so far held shallow and keeps the recent downtrend intact with
near-term support at $1273.71 from the May 20 low. The May 3 low provides the
next layer of support at $1268.68, a break opens the 200-dma at $1257.94, ahead
of the 50% retracement of the Oct - Feb rise at $1253.60.
- WTI & Brent sit $0.20 higher, holding in narrow range trade.
- US Existing Home Sales the main highlight today at 1400GMT. Existing Home
Sales are expected to accelerate to 5.37 million in April after pulling back to
5.21 million in March. Home sales are well below their year ago levels despite
some recent recovery in sales and supply. Chicago Fed's Evans & Boston Fed's
Rosengren are also scheduled to speak today.

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