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US Payrolls Hit 5-Month High as Markets Await CPI This Week.

(By ATFX Analyst Team)

Key Takeaways

U.S. job growth accelerated in August, adding 162,000 jobs—the highest in five months. Unemployment remained at 4.1%. The likelihood of a Fed rate hike this month rose to 60%. After the data, U.S. equities and gold fell as markets digested the report.

Today’s Focus:

U.S. and Canadian markets are closed for the holidays. With investors digesting nonfarm data and Middle East tensions high, traders should watch for unusual price swings amid low liquidity. Eurozone Q2 GDP is expected to be 0.4%, which could affect Thursday’s ECB meeting.

 

Global Market Review 07/09/2026

  • U.S. equities fell on Friday, with the Dow down 0.51%, S&P 500 off 0.38%, and Nasdaq down 0.29%.
  • Treasury yields rose, and the dollar index gained 0.21%.
  • Gold dropped 1%.
  • Oil stayed volatile and elevated as WTI crude jumped over 9% for the week.
  • Citi and ANZ raised Brent crude forecasts.

 

Key Events Today:

US & Canada Holiday

  • 14:00 EU GERMANY Industrial Production JUL **
  • 16:30 EU Sentix Investor Confidence ** SEP
  • 17:00 EU GDP QoQ 3rd Est Q2 ***

Sep 8 (GMT+8)

  • 07:50 JP GDP Annualized Final Q2 **

 

Markets Analysis 07/09/2026

20260907 EURUSD Keys Instruments

  • Resistance: 1.1669 / 1.1711
  • Support: 1.1574 / 1.1532

Stronger-than-expected U.S. payrolls pushed EUR/USD below 1.1600, but the pair later recovered some losses.

Analyst View:

EUR/USD remains below the 10-day average and faces pressure ahead of eurozone GDP data.

Bias: Bearish pressure

20260907 GBPUSD Keys Instruments

  • Resistance: 1.3552 / 1.3575
  • Support: 1.3475 / 1.3451

The strong U.S. jobs report supported the dollar. GBP/USD traded mixed on Friday but ended slightly lower, staying within Thursday’s range.

Analyst View:

The pair continues to face resistance near 1.3550 and opened slightly lower today, drifting toward 1.3500. Consolidation within last week’s lower range is likely.

Bias: Under pressure

20260907 USDJPY Keys Instruments

  • Resistance: 157.20 / 157.81
  • Support: 155.22 / 154.62

USD/JPY rebounded from early-August lows on Friday, lifted by strong U.S. data as markets weigh Fed and BOJ rate-hike expectations.

Analyst View:

The pair halted a two‑day decline but has not recovered much of the earlier sharp losses. Unless USD/JPY reclaims 157, it is likely to remain in a lower consolidation band.

Bias: Range‑bound at lower levels

20260907 US Crude Oil Futures (OCT) Keys Instruments

  • Resistance: 93.64 / 94.57
  • Support: 90.82 / 89.60

Oil traded sideways on Friday. OPEC+ kept October output unchanged. Iran said it attacked a U.S. vessel and plans new restricted zones near key waterways.

Analyst View:

Crude opened slightly higher today, supported by headlines and Friday’s intraday recovery. Key resistance remains above $93, near last week’s highs.

Bias: High‑level consolidation

20260907 Spot Gold (XAU/USD) Keys Instruments

  • Resistance: 4467 / 4511
  • Support: 4324 / 4281

20260907 Spot Silver (XAG/USD) Keys Instruments

  • Resistance: 66.87 / 67.88
  • Support: 63.83 / 62.56

Strong U.S. payrolls increased expectations of a hawkish Fed. Gold dropped over 2% Friday before recovering above $4,400.

Analyst View:

Gold ended on a two‑day rise and failed to break above key moving averages. With U.S. markets closed today, thin liquidity may keep gold in a soft, nonfarm‑digesting mode.

Bias: Short‑term bearish

20260907 Dow Jones Futures Keys Instruments

  • Resistance: 53530 / 53998
  • Support: 53152 / 52773

The strong August jobs report lifted rate-hike expectations and pushed Treasury yields higher. All major U.S. indices fell Friday, with the Dow retreating from a four-day high.

Analyst View:

The Dow slipped back below key daily moving averages (around 53300–53400), turning them into resistance. A return to last week’s lower range is possible.

Bias: Under pressure

20260907 NASDAQ 100 Keys Instruments

  • Resistance: 29625 / 29757
  • Support: 29416 / 29311

Rate‑hike expectations weighed on overall sentiment, though storage and semiconductor equipment stocks rose Friday, limiting Nasdaq’s decline.

Analyst View:

Nasdaq ended with mild losses near last week’s highs. Rate-hike expectations may cap upside.

Bias: Moderate momentum

20260907 Bitcoin (BTC/USD) Keys Instruments

  • Resistance: 80860 / 81585
  • Support: 79266 / 78553

Stronger U.S. jobs data revived expectations of a Fed rate hike. Bitcoin nearly reached $79,000 before settling around $80,000. U.S. spot Bitcoin ETFs still show strong, though slowing, demand.

Analyst View:

BTC/USD is holding steady after Friday’s data‑driven swings. As long as it remains above the 10‑day moving average near $79,000, the bias remains mildly bullish.

Bias: Mildly bullish

Enjoy trading! The content is for reference only. Please ensure that you understand the risk.

About the author

Martin Lam

 

Martin Lam is ATFX Chief Analyst for Asia Pacific, with over 20 years of experience in global forex and investment markets. He holds a degree in Finance and Economics from Deakin University and has held senior roles at leading FX brokerage firms.

More from Martin Lam

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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