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The risk averse theme on reports of a........>

DOLLAR
DOLLAR: The risk averse theme on reports of a stalemate in US-China trade talks
was countered by Chinese GDP data overnight, which met expectations. The DXY
touched highs of 96.39 on Friday, before stalling around resistance from the 50%
retracement of 97.71-95.02. The index further drifted through Asia to hold at
the base of its 96.24-37 range. Bulls need to clear the 50 & 55-dma's at
96.60/61 to extend the uptrend, before challenging the 97 level (96.95 - Jan 2
high). Friday's resurgent dollar, saw a near $15 retracement in gold toward the
$1280 area and has so far failed to show any signs of a recovery. The yellow
metal has dipped back under broken channel top resistance-turned support opening
the 38.2% fibo of $1233.02-1298.60 at $1273.55. The US are out today for Martin
Luther King Jr day which should see volumes remain light.  

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