Here’s the gameplan from the currency strategists at RBS. The consensus for NFP is 180K after a 169K reading for August
- A rise of 200K or more with upward revisions to July and August would be needed to resurrect talk of a December taper
- Fade any US strength on a number between 170K and 180K especially vs EUR, AUD and NZD
- A reading of 130-160K would solidify views of no taper until 2014, would boost EUR/USD and NZD/USD
- AUD/USD longs would benefit most from a reading of 100-125K
- 90K or lower would cause a round of risk aversion with USD outperforming except vs JPY
Love it when someone lays out a clear strategy.
