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The dollar rallied yesterday after well......>

DOLLAR: The dollar rallied yesterday after well received US Jobless Claims data
which registered its lowest number since 1969. The DXY touched highs of 97.31,
but has since retraced light gains through Asia, last 97.23. Bulls need to clear
the Apr 2 high at 97.51 to put the focus back on the triple-top resistance area
at 97.71. While bears need a close below 97 to open the 100-dma at 96.58.
- Gold briefly traded under the 100-dma ($1284.21), before basing ahead of the
Mar 7 low yesterday. The yellow metal later witnessed an impressive $14 recovery
to close around the $1294 level. The firmer dollar through Asia knocked
sentiment and last trades at $1288.38. On the topside resistance is seen at
$1297.10/64 from the Apr 1 high & 38.2% retracement of $1324.63-1280.95.
- WTI & Brent were largely held to narrow $0.30 ranges.
- US jobs data the main highlight at 1230GMT. Nonfarm payrolls are forecast to
rise by 170,000 in March after a much weaker-than-expected 20,000 rise in
February. The unemployment rate is expected to stay at 3.8%. Hourly earnings are
forecast to rise by 0.3%, while the average workweek is expected to rebound
slightly to 34.5 hours after falling to 34.4 hours in February. 

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