The risk-off theme has seen JPY sit top of...>

DOLLAR: The risk-off theme has seen JPY sit top of G10 with solid gains across

the board following President Trump's remarks that Chinese leaders had 'broke

the deal'. The DXY continued its series of higher lows with the index

consolidating either side of 97.60 at the European crossover.

- Bulls need to recover yesterday's high at 97.74, before returning the focus to

the 98 level & ytd high at 98.33. On the downside support remains at 97.14 from

the May 1 low & trendline support off the Apr 2018 lows. Below here opens a run

at 97, ahead of the 100-dma at 96.71.

- Gold traded above $1291 for the first time in three weeks but has since

retraced gains to hold around the $1282 level. Near-term support is seen at

$1279.43/1278.85 from the May 8 low & 50% retracement of $1266.35-1291.35. While

on the topside a return to yesterday's high is required before challenging the

100-dma at $1295.78.

- WTI & Brent are off their worst levels, but still sit moderately lower.

- US Trade Balance, PPI & Jobless Claims the main data release today. Speeches

also scheduled from Atlanta Fed's Bostic & Chicago Fed's Evans.