The dollar sits mildly firmer across the.....>

DOLLAR: The dollar sits mildly firmer across the board and looks set to extend

its rally at the European crossover. The DXY has registered successive gains

into a seventh session, up 1.59% from the Jan 31 low. A topside break of the

double-top resistance area & 61.8% retracement at 96.67/68, opens a run at the

97 level. Above here is likely to accelerate the move towards the 76.4% fibo at

97.08, ahead of the Dec 14 high at 97.71. Gold based ahead of $1302 yesterday

with the recovery extending through $1310. Consolidation was the overriding

theme in Asia with bulls short-term focus on the Feb 7 high at $1312, ahead of

$1314.59 which represents the 50% retracement of $1326.33-1302.85. WTI & Crude

both trade around $0.40/oz at typing. This comes after trade war worries and

lower global growth forecasts weighed on crude on Thursday. The only US data

release on the calendar today is the US NY Fed GDP Nowcast for Q1 which was

previously at 2.61%. The only speech of the day is at 1815GMT, when San

Francisco Federal Reserve Bank president Mary Daly participates in a Q&A session

in San Francisco, California. Also, a worthy reminder of the very large $1.64bn

USDJPY expiry at Y110.00/05 for today's NY cut.