ISM Non-Manufacturing Employment comes in at 47.4 against 51.9 consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The US ISM Non-Manufacturing Employment index registered 47.4, according to data released today. This figure came in significantly below the consensus expectation of 51.9, representing an 8.7% surprise to the downside. The actual print also marked a decline from the previous month’s reading of 51.2. A reading below 50 indicates a contraction in employment within the non-manufacturing sector.
Following the release, market reactions were observed across several pairs. AUDUSD rose by 7.0 pips 15 minutes after the release, while EURUSD gained 9.4 pips and GBPUSD advanced 13 pips. NZDUSD also saw a rise of 5.7 pips. USDCAD declined by 7.8 pips, USDCHF fell by 11 pips, and USDJPY dropped 16 pips. Gold, XAUUSD, experienced a notable increase of 227 pips within 15 minutes. For most currency pairs, these initial 15-minute moves are below their historical median 1-hour moves, which range from 11 to 18 pips. However, the move in XAUUSD was substantially larger than its median 1-hour move of 33 pips, and well above its top-quarter threshold of 61 pips.