Market Recap 

XAUUSD 
XAUUSD added 1.05% on the session, settling at 4735.13 after printing a new 5‑day and 10‑day high at 4748.57 at 16:46. The market opened at 4686.1 and dipped early to 4648.15 by 08:56, briefly trading below the 4650 handle, before advancing into the afternoon peak near the 4750 handle. The day’s range spanned 100.42, equivalent to 2.14% of the open, with the close positioned near the upper end of that span, just 13.44 below the high and 87.0 above the low. Into the finish, price hovered around the 4740 handle identified as the nearest 10‑handle to the close. On higher‑timeframe references, the close remained above the H4 EMA21 at 4695.34 and the H4 SMA50 at 4639.72, while H4 RSI14 stood at 58.24. The intraday advance kept the instrument well above the 10‑day low at 4500.73. Session structure featured an early downside probe from the open to the morning trough, followed by a recovery that extended to fresh multi‑day highs in the US afternoon and a pullback into the bell that left the settlement in the top decile of the day’s range. The absolute move from open to close measured 49.03, with the percentage change contained within the day’s broader 2.14% trading envelope. No tick‑volume data were available to qualify participation, while the technical backdrop on H4 closed with price above both the 21‑period EMA and 50‑period SMA.

USDJPY 
USDJPY advanced within a contained session on 11 May, finishing at 157.10 for a gain of 0.64, or 0.41%, from an open at 156.46. The day began with the low at 156.45 recorded at 00:00, after which price worked higher and ultimately printed the high at 157.26 at 23:11. The intraday range measured 0.82, equivalent to 0.52% of the opening level. The close was near the top of the range, leaving roughly 0.16 between the settlement and the high, while the low was set in the opening minute. Trading remained within the 150-handle throughout, without crossing into the 160s, and the 157.00 figure featured late in the session as spot ended slightly above it. No tick volume was provided. On higher timeframes, the H4 RSI(14) stood at 75.36 by the session’s end. On the daily Bollinger framework, price held above the lower band, which was positioned at 155.79, keeping the entire session’s path north of that boundary. The structure was orderly: an initial probe near 156.45 was followed by progressive gains into the New York afternoon and a late-session push to the day’s peak, with the settlement anchored close to the high-water mark. There were no crossings into a new 10-big-figure bracket, and the session’s extremes were both set in proximity to the start and the finish of the trading day, underscoring a close concentrated in the upper decile of the range. 

GBPUSD
GBPUSD extended higher over the session, closing at 1.36, up 0.00601 or 0.444% from the 1.35 open. Price printed the session low at 1.35 at 00:01 and advanced to a 5‑day high of 1.37 at 18:28 (server time) before consolidating into the finish. The day’s range spanned 0.01071, equal to 0.79% of the open, with the close positioned in the upper half of that span, roughly 60% above the low. Trading moved through the 1.36 handle during the afternoon and ended above it, while the 1.35 area defined the session floor early on. On the daily timeframe, the 20‑day simple moving average and Bollinger midline both sat at 1.3543; price opened near that level and finished above it. The daily lower Bollinger band at 1.3454 remained below all intraday prints and was not approached. Intraday momentum metrics were steady, with the H1 RSI(14) reading 51.95 into the close. Structurally, the session was characterized by an immediate dip to the low just after the open, a persistent climb that culminated in the late‑day high, and a minor pullback into settlement that still preserved gains above 1.36. The close near the upper portion of the day’s range, alongside the new 5‑day high, framed an upward‑tilted session profile, while proximity to the daily 20‑SMA/Bollinger midline at the start and distance from the lower band at 1.3454 provided additional higher‑timeframe context. 

Economic Calendar Recap & Preview 

US housing was the lone data point, with Existing Home Sales edging up to 4.02 million annualized, from 3.98 previously and above the 3.96 consensus. The focus now turns squarely to US inflation at 15:30 server time: the headline CPI index is expected at 330.75, following 330.29 previously; headline CPI month over month is seen at 0.7 percent after 0.9 percent; core CPI month over month is forecast to slow to 0.1 percent from 0.2 percent; and the core CPI n.s.a. month over month previously printed 0.3 percent. These releases arrive together and will be parsed for breadth between goods and services as well as the momentum in core components. If CPI prints higher than forecast, market-based expectations for policy easing may soften. With the data concentrated in a single release window, price action could be volatile across Treasuries, the dollar, and equity futures around the print. No other major releases are scheduled in the same window, leaving the inflation set to dominate the session’s narrative and liquidity. Markets will also monitor any unscheduled commentary, but the calendar is otherwise light, keeping attention on the dispersion between headline and core and the degree of sequential cooling embedded in the forecasts.