The dollar sits moderately firmer at the.....>

DOLLAR: The dollar sits moderately firmer at the European crossover. AUD lost

further ground following dovish remarks from RBA Governor Lowe, EUR retains a

heavy tone ahead of today's key ECB meeting, while CAD & JPY bucked the trend.

- The DXY remains at elevated levels with immediate focus on 97.80/81, the Jun 3

& Jul 24 highs. Above here and expect resistance on approach to the 98.00 level,

ahead of the May 23 high at 98.37.

- Gold briefly challenged trendline support drawn off the Jun 11 low, this comes

in today at $1421.67. Consolidation above is an encouraging signs for bulls

putting immediate focus back on the multi-year highs of $1453.1. Support is seen

at $1402.23 which represents the 38.2% retracement of $1319.94-1453.09, below

here opens a run at the $1400 level ($1400.14 - Jul 17 low).

- WTI & Brent trade moderately firmer, but off yesterday's best levels. WTI

$56.09, Brtent $63.38.

- Main focus on the ECB today, data release in the US from Durable Goods,

Wholesale Inventories & Jobless Claims.