Geometry drawn in the same context immediately 'merges', so the circles will cut each other.
This is useful to do what Pilou shows, but a PIA when you want to Move one circle as drawn over the other. e.g. if you have not initially drawn it in the exact position you desire.
To allow that, draw the second circle away from everything else, then select it and use the context-menu to make it into a [temporary] group.
Now you can select the temporary group and Move it etc, sliding it over the other circle to adjust the overlapping.
When you are ready explode the temporary group.
The circles will merge and cut each other as before...
Erase the unwanted parts...