The DXY slipped to 97.15 on initial react....>

DOLLAR: The DXY slipped to 97.15 on initial react to the FOMC'S decision to cut

its IOER by 5bp to 2.35%, before spiking to extended react highs of 97.72 during

the press conference where Fed Chair Powell called the revision technical and

reiterated the central banks patient stance. A relatively quiet Asia session has

seen the index consolidate in a narrow 97.57-66 range.

- Bulls look to recover the 98 handle to reignite momentum, opening the Apr 26

high at 98.33. While a downside break of 97.15 brings channel base support &

100-dma back into view at 96.93/68.

- Gold gapped $15 lower post FOMC, before basing ahead of $1273. Recovery

efforts briefly cleared $1278 in Asia but with lack of follow through

encountered renewed supply with a deeper correction to $1272.81. The underlying

tone remains heavy with support seen at $1271.57 from the 50% retracement of the

Nov - Feb rise, below here opens the Apr 23 low at $1266.42.

- WTI & Crude hold toward the base of their narrow 30 pip ranges.

- Jobless Claims (1230GMT) & Factory Orders (1400GMT) the main highlights in the

US today.