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

ATFX Market Outlook - 7th September 2026

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

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 **

EURUSD

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

GBPUSD

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

USDJPY

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

US Crude Oil Futures (OCT)

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

Spot Gold (XAU/USD)

Resistance: 4467 / 4511

Support: 4324 / 4281

Spot Silver (XAG/USD)

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

Dow Jones Futures

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

NASDAQ 100

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

Bitcoin (BTC/USD)

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

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