Market Reactions to NFP Report

Author: Elior Manier

Date: 11 February 2026

Overview

The latest Non-Farm Payrolls (NFP) report has surprised traders with a significant increase of 130,000 jobs added, far exceeding the expected 70,000. This positive news has led to a decrease in the unemployment rate from 4.4% to 4.3%. However, the market's initial enthusiasm has been tempered by concerns regarding the accuracy of the data, particularly due to a substantial revision of 856,000 jobs removed from the previous year's figures.

Market Reactions

The US Dollar experienced a strong rally following the report, supported by rising yields and reduced expectations for interest rate cuts in 2026. However, traders are cautious, focusing on the unemployment rate and other less misleading indicators as the reliability of the headline job numbers is questioned.

Sector Performance

Despite the initial surge in stock prices, particularly in the Dow Jones, there has been a notable sell-off as investors reassess the implications of the NFP data. The Dow remains above the critical 50,000 level, but the removal of potential Fed rate cuts could pose challenges for stock performance moving forward.

Commodities and Cryptocurrencies

Precious metals, including Gold and Silver, initially rallied but are now facing resistance as the market digests the hawkish implications of the NFP report. Gold is attempting to breach the $5,100 mark, while Bitcoin continues to struggle below $70,000, reflecting a broader risk-off sentiment in the market.

Conclusion

The NFP report has created a complex landscape for traders, with mixed signals across various asset classes. The focus will now shift to upcoming economic indicators, particularly the Consumer Price Index (CPI) report, which could further influence market sentiment and trading strategies.