Market Overview

Aussie slips and gold eases as China inflation surprises and Japan GDP looms

ADFX Team

Market Recap 

XAUUSD 
XAUUSD traced a broad session on 2026-03-09, setting a five-day low before recovering part of the early losses. The market opened at 5180.34, posted the session high at 5198.0 at 01:00, then fell to 5015.0 by 04:01, and finished at 5137.41, down 42.93 or 0.829% from the open. The intraday range spanned 183.0, equal to 3.53% of the opening level and about 133.6% of the current D1 ATR, indicating activity above the recent daily norm. The close sat around 66.9% of the day’s range measured from the low, leaving it below the open yet in the upper portion of the distribution after an early low-to-high reversal within the first hours. Price action approached the 5200 figure without exceeding it, while the downside stayed above 5000 as the low printed at 5015.0. Into the finish, the pair settled 2.6 under the 5140 handle, reflecting a close just shy of that round-number reference. From a higher-timeframe perspective, daily momentum indicators remained constructive, with RSI(14) at 58.97 and MACD positive at 73.27. The session’s low marked a new five-day trough at 04:01, and the subsequent rebound left the settlement well off the bottom but short of reclaiming the opening print. No tick volume data were available for additional context. 

EURUSD 
EURUSD completed a brief session from 00:00 to 01:03 with little net change, closing at 1.15 for a gain of 0.00006 (0.005%) from the 1.15 open. The high was set just below 1.16 at 00:03, and the low printed just above 1.15 at 00:05, establishing an intraday span of about 0.0018, or 0.15% of the opening level. The early sequence placed the peak within three minutes of the open and the trough two minutes later, and price then held inside those boundaries into the close without revisiting either extreme. The settlement occurred near the lower end of the session range, leaving spot closer to the low than the high by the bell. Trading stayed within the 1.15 handle throughout, with the 1.16 round figure untested. The open and close alignment underscored the minimal net movement across the window, while the bulk of the range was defined in the opening minutes. From a higher‑timeframe perspective, the H4 backdrop shows spot below the 21‑period EMA near 1.16 and the 50‑period SMA near 1.17, keeping price positioned under these moving averages into the session end. Overall, the structure featured an early establishment of boundaries followed by range retention and a close in the lower quartile of the intraday span. 

AUDUSD 
AUDUSD traded a 0.00412 range between 00:00 and 05:00, closing at 0.69679, down 0.19% on the session, with the range amounting to 0.59% of the open. Price opened at 0.69808 and printed the session high at 0.69966 at 00:19, stalling a few pips below the 0.7000 figure, before easing lower through the midpoint at 0.6976 and reaching the session low at 0.69554 at 04:21. The close sat at 30.3% of the day’s range, leaving it in the lower third of the distribution and below the intraday midpoint, while still above the 0.6950 handle that contained the downside. The sequence featured an early test of 0.7000 that failed to establish acceptance above the round number, followed by a steady drift into the mid‑0.69s and a modest bounce into the bell. Notable levels included repeated interaction around 0.6970–0.6980 during the descent and a brief consolidation ahead of the 04:21 low. On the higher timeframe, the pair remains below the D1 Bollinger middle band at 0.70672, situating price beneath that daily reference into the session close. By the close, AUDUSD had retraced from the early high to finish closer to the low than the high, with the failed push near 0.7000 and the hold above 0.6950 defining the round‑number boundaries for the period. No tick‑volume or ATR reference was available to contextualize participation or range versus typical daily movement. 

Economic Calendar Recap & Preview 

Chinese inflation surprised to the upside: CPI rose 1.0 percent month over month (prior 0.2, forecast -0.1) and 1.3 percent year over year (prior 0.2, forecast 1.0), while PPI remained in deflation at -0.9 percent year over year, an improvement from -1.4 and broadly in line with the -1.0 forecast. Looking ahead, at 02:50 server time Japan prints GDP, with quarter over quarter growth expected at 0.1 percent after 0.1 previously and the year over year rate also seen at 0.2 percent following 0.2; the net exports contribution is projected to be flat at 0.0 percentage points, matching the prior 0.0. A stronger-than-forecast GDP tends to support the yen, and JPY crosses may see volatility around the release. The US calendar features Existing Home Sales at 17:00, with a forecast of 3.75 after 3.91 previously. No major meetings or speeches are flagged alongside these releases. 

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