Philadelphia Fed Employment comes in at 27.9 against 1.2 consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The Philadelphia Fed Employment index was released today, August 20, 2026, at 12:31 UTC. The actual figure came in at 27.9, significantly above the consensus estimate of 1.2. The previous month’s reading was 10. This represented a surprise against consensus of 2225.0%.
Measured market reactions 15 minutes after the release showed varied movements. AUDUSD moved up 4.0 pips, EURUSD up 2.8 pips, GBPUSD up 3.3 pips, and NZDUSD up 2.8 pips. USDCAD moved up 2.2 pips, USDCHF moved down 2.5 pips, and USDJPY moved down 2.3 pips. XAUUSD moved up 68 pips. Comparing these to typical 1-hour moves, the current movements for most USD pairs are relatively small. For example, EURUSD’s 2.8 pips move is below its median 1-hour move of 9 pips. XAUUSD’s 68 pips move, however, is above its median 1-hour move of 29 pips and falls into the top-quarter of past releases, which move 60+ pips.