Market Overview

Gold climbs while sterling softens as markets position for US CPI 

ADFX Team

Market Recap 

XAUUSD 
XAUUSD advanced within a broad intraday span, setting a 5‑day high at 5238.53 at 18:45 and settling at 5192.71, up 47.92 on the day or 0.93%. The session opened at 5144.79 and early trade pushed to the low at 5117.8 by 01:24 before momentum carried price higher into the evening peak; it then eased into the close. The day’s range measured 120.73 points, equal to 2.35% of the open and 87.1% of the D1 ATR, with the close positioned around 62% of the distance from low to high, indicating a finish in the upper portion of the session’s distribution. Round‑number dynamics featured as price crossed the 5200 handle during the advance, peaking just below 5240 before slipping back under that mark into the settlement print. On the higher‑timeframe backdrop, the 18:45 high matched the current 5‑day extreme while spot remained beneath the D1 Bollinger Upper band at 5345.05. On H4, RSI(14) registered 56.5. Overall, the profile captured an early dip, a persistent drive toward the 5‑day top, and a retracement that left the close above the open yet below the session high. No tick volume data were provided. The combination of a near‑ATR‑sized session and an upper‑range close framed a day dominated by the push to the multi‑day high and the subsequent moderation into the final minutes. 

GBPUSD 
GBPUSD posted a narrow decline on Tuesday, closing at 1.34, down by 0.00041 (-0.031%) from an open at 1.34, with a session range of 0.00719 that amounted to 0.54% of the open. The day’s high was registered at 11:01 near 1.35, while the low printed at 22:40 around 1.34, leaving the close near the bottom of the range; by the session end the pair settled about 7% of the way up from the low. Price action built early gains into late morning before giving back ground through the afternoon and evening, marking a sequence in which the session high preceded a late-session low and a close just off that trough. The tape operated around the 1.34 handle for much of the period, with the intraday peak occurring in the upper-1.34s and the trough holding just above the figure. Notably, the session set a 5‑day high at 11:01, though it remained below the 10‑day high reference at 1.36. On the daily timeframe, MACD sat marginally below zero, while the close’s position near the lower tail of the day’s range underscored the late fade into the 22:40 trough. By the close, GBPUSD had traversed a measured intraday span but finished compressed near the session low, with the earlier upside probe failing to carry into the close. No tick volume or ATR statistics were provided to contextualize participation or volatility beyond the stated 0.54% of open. 

Economic Calendar Recap & Preview 

Over the last day, Japan’s growth beat expectations while U.S. housing activity firmed: Japan GDP rose 0.3 percent quarter over quarter (prior 0.1, forecast 0.1) and 1.3 percent year over year (prior 0.2, forecast 0.2), with net exports’ contribution unchanged at 0.0 versus both prior and forecast; in the U.S., Existing Home Sales increased to 4.09 from 3.91, above the 3.75 forecast. The next 24 hours center on the U.S. inflation report at 15:30 server time on March 11. CPI is expected to slow to 2.2 percent year over year after 2.4 previously, and the headline CPI index is seen edging up to 326.83 from 326.59. Core CPI is forecast to rise 0.2 percent month over month after 0.3, while the non-seasonally adjusted core measure last increased 0.4 percent month over month. All four indicators land simultaneously at 15:30, concentrating focus on a single release window. If CPI prints above forecast, policy-rate easing expectations could soften. Given the prominence of this report, price action can be volatile around the release. 

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