procure.ch Manufacturing PMI comes in at 50 against 48.6 consensus
| Pair | Now | Since publish |
|---|---|---|
| USDCHF | — | — |
The procure.ch Manufacturing PMI for Switzerland registered 50 for August. This figure exceeded the consensus expectation of 48.6, marking a 2.9% surprise against the forecast. The previous month’s reading stood at 54.3.
Following the release, the Swiss franc showed varied reactions across major pairs over the first hour. CHFJPY moved +23 pips, a larger move compared to its median 1-hour move of 10 pips and exceeding the top-quarter threshold of 18 pips after past releases. AUDCHF moved -8.7 pips, which is larger than its median 1-hour move of 5 pips. Conversely, CADCHF moved -0.6 pips, EURCHF moved -2.9 pips, GBPCHF moved -4.3 pips, NZDCHF moved -3.9 pips, and USDCHF moved +0.1 pips. These moves were small relative to their respective median 1-hour moves of 5 pips for CADCHF and NZDCHF, 6 pips for EURCHF and USDCHF, and 10 pips for GBPCHF.