ISM Manufacturing Employment comes in at 52.8 against 48.6 consensus

The ISM Manufacturing Employment index for August came in at 52.8, significantly exceeding the consensus forecast of 48.6. This actual figure also marked an increase from the previous reading of 49.7. The release showed an 8.6% surprise relative to the consensus estimate.

Following the release, the US Dollar saw varied reactions across major pairs over the initial 15 minutes. EURUSD declined by 10 pips, GBPUSD fell by 7.0 pips, and NZDUSD was down 2.7 pips. USDJPY rose by 12 pips, and USDCHF gained 5.2 pips. AUDUSD saw a minor increase of 0.3 pips, while USDCAD edged down 1.1 pips. Gold, XAUUSD, moved up 19 pips. Compared to historical median 1-hour moves, such as 11 pips for EURUSD and 14 pips for USDJPY, the initial 15-minute movements were generally smaller than typical for this release.