Germany S&P Global Manufacturing PMI comes in at 54.3 against 54.1 consensus

Germany’s S&P Global Manufacturing PMI for September 1, 2026, came in at 54.3. This figure was above the consensus expectation of 54.1 and also higher than the previous reading of 54.1. The actual print represented a 0.4% surprise versus the consensus forecast.

Following the release, EUR pairs showed varied reactions over the initial 15 minutes. EURAUD moved -4.5 pips, EURCAD moved -8.2 pips, EURCHF moved +1.2 pips, EURGBP moved -1.9 pips, EURJPY moved -6.4 pips, EURNZD moved -6.9 pips, and EURUSD moved -5.6 pips. These initial 15-minute movements are relatively small when compared to the median 1-hour moves observed after past releases, which typically range from 7 to 13 pips for these pairs. For instance, EURUSD’s median 1-hour move is 10 pips, and EURJPY’s is 13 pips.