It’s not about payrolls number. USD could rally if the average hourly earnings beats estimates.
For me, a payrolls figure above 100K-120K is good news. A big number… above 200K or so would actually be a bad news as it would only underscore the slack in the labor market and force the Fed to go slow with the rate hikes.
I would want to sell USD if – wage growth disappoints and NFP prints above 200K. (Buy Gold, EUR/USD, EUR/AUD)
On the contrary, I would buy USD if the wage growth betters estimates, while NFP is between 120K – 180K. (Sell GBP/USD)