The DXY rallied through 97.50 yesterday,.....>

DOLLAR: The DXY rallied through 97.50 yesterday, before topping out around the

97.70/75 zone which has previously registered a series of highs. Consolidation

remained the theme through Asia, volumes were seen light held to a narrow

97.51-56 range. Bulls will need to clear 97.70/75 to reignite upside momentum

toward the 98.00 level, above here opens a run at the double-top resistance area

at 98.30/35.

- Gold briefly traded above the $1300 level yesterday, but has since retraced to

settle either side of $1296. Initial support comes in at $1293.16 from the May

15 low, a break opens the 50% fibo of $1282.02-1303.41 at $1292.71, ahead of the

50-dma at $1291.93. Bulls need a close above the $1300 level, before challenging

the May 14 high at $1303.41.

- WTI & Brent trade moderately firmer at the European crossover.

- US Jobless Claims, Housing Starts & Building Permits the main highlights today

at 1230GMT. The level of jobless claims is expected to fall by 8,000 to 220,000

in the May 11 week after declining by only 2,000 to 228,000 previously.