Daily brief · Monday, November 9, 2026
Strong US jobs lift the dollar, and CPI on Tuesday is next
Payrolls beat forecasts by 100K, EUR/USD gave back its weekly gains and gold slipped from $4,100. This week: US CPI on Tuesday, UK GDP on Thursday.
| Market | Bias | Support | Resistance |
|---|---|---|---|
| EUR/USD | Bearish | 1.1100 | 1.1220 |
| Gold (XAU/USD) | Neutral | 4,000 | 4,106 |
What happened on Friday
US nonfarm payrolls rose by 165,000 in October against a forecast of about 65,000, and unemployment dipped to 4.1% from 4.2%. That's a big positive surprise, and markets read it as more room for the Federal Reserve to raise rates again.
- The dollar had its strongest day in months. EUR/USD fell about 0.8% to around 1.1130, wiping out the whole week's gain.
- Gold dropped almost 1% to around $4,060 after touching $4,106 earlier in the day. Higher rate expectations are a headwind for a metal that pays no interest.
- Earlier in the week the Bank of England raised its rate to 4%.
This is the "surprise" rule in action: the jobs number beat the forecast by 100K, so price moved hard. If it had matched the forecast, Friday would have been much quieter.
Levels to watch
- EUR/USD: 1.1100 is the round number below. Above, 1.1220 is roughly where the pair traded before the jobs report.
- Gold: $4,000 is the big psychological floor. Friday's high at $4,106 is the first ceiling.
These are reference points for practice, not trade signals. Watch how price behaves when it gets there: a clean close beyond a level tells you more than a quick poke through it.
This week's calendar
| Day | Event | Why it matters |
|---|---|---|
| Tuesday | US CPI (October), 8:30 am New York | The most important release of the week for USD and gold |
| Thursday | UK GDP | Growth check for GBP after the BoE hike |
| Friday | US PPI | A second read on US price pressure |
Before CPI, decide what you'll do: stay flat, or wait 15–30 minutes and trade the break of the release candle's range. Read Trading the News.
Lesson of the day
Why did one jobs number move EUR/USD nearly 90 pips? Start with Economic Data That Moves Markets, then Central Banks and Interest Rates.
Data: US Bureau of Labor Statistics, market prices at Friday's close as reported by Reuters and FXStreet.
Educational market commentary, not investment advice. Levels are reference points, not signals.