Market Recap 

XAUUSD 
XAUUSD covered a 120.2 range on 14 July, or 3.0% of the open, between a session low at 03:07 of 3983.6 and a session high at 15:33 of 4103.79. The market opened at 4004.79 and settled at 4052.58, finishing up 47.79 on the day, a gain of 1.19%. The low established fresh 5‑day and 10‑day lows and matched the flagged 10‑day low level, briefly probing the 3980 handle while staying well above the 3900 handle reference. From the early dip, price advanced through the 4000 figure and briefly traded above 4100 before retracing into the close. The close sat above the session midpoint at 4043.69 and within the upper half of the day’s range, ending below the 4100 round level but comfortably above the open. Intraday structure showed an initial push lower from the open into the 03:07 trough, followed by a rise that culminated at 15:33, with subsequent consolidation into the late session. Notable levels engaged included the 4000 figure near the open, the 3980s on the downside, and the 4100 threshold on the upside. On intraday momentum metrics, H1 RSI14 registered 62.4 by the end of the session. Overall, the day featured a new short‑term extreme on the downside within the broader 5‑ to 10‑session window, a recovery that reclaimed and held above the midpoint, and an intraday test and rejection of the 4100 handle before closing modestly below it. 

USDJPY 
USDJPY closed at 162.13, ending the session 0.22 lower (-0.14%). Price opened at 162.35 and printed the day’s high at 162.46 at 01:00, before sliding to the low at 161.59 at 15:30 and then recovering into the close. The intraday range spanned 0.87 (0.54% of the open), which equated to 110.9% of the D1 ATR. The close was positioned at 61.6% of the day’s range measured from the low, leaving it in the upper portion of the session’s extremes yet below the opening level. Trading remained contained beneath the daily upper Bollinger band, with the session high sitting below 162.86. No 100-handle cross was recorded. The sequence across the day showed an early uptick to the high shortly after the open, a mid-session drift to the trough into mid-afternoon at 15:30, and a late rebound that failed to reclaim the opening print. On higher timeframes, H4 RSI(14) read 63.5, indicating momentum on that horizon above its midpoint, while the proximity to the daily upper band framed the session within the upper sector of the broader daily envelope. By the close, the pair had traversed a 161.59–162.46 band and settled closer to the top than the bottom, with the net result a small decline on the day set against a range slightly exceeding its recent daily average. 

Economic Calendar Recap & Preview 

A softer U.S. inflation print set the tone: headline CPI fell 0.4 percent month over month, versus 0.5 previously and 0.5 forecast; core CPI was flat at 0.0 percent month over month after 0.2 previously and a 0.2 forecast; and the year over year rate eased to 3.5 percent from 4.2, undershooting the 3.8 consensus. Looking ahead, at 05:00 server time China reports GDP year over year, expected at 4.2 percent after 5.0 previously. Bank of England MPC member Pill speaks at 13:30, which may color market views on the UK policy path. The Bank of Canada announces its policy rate at 16:45; the previous setting was 2.0 percent. Energy markets then watch EIA crude oil stocks at 17:30, with inventories forecast to rise 1.0 after a 3.0 prior build. Simple economics suggests that a stronger-than-forecast China GDP print would typically support risk sentiment, while a weaker outcome would do the opposite. Note that the BoC decision window can generate short-lived volatility in Canadian dollar pairs.