S&P Global Composite PMI comes in at 53.6 against 53 consensus

The S&P Global Composite PMI for the United States was released today at 53.6. This figure exceeded the consensus expectation of 53 and marked an increase from the previous reading of 52.2. The actual print represented a 1.1% surprise compared to the consensus forecast.

Following the release, market reactions over the first 15 minutes showed varied movements. AUDUSD gained 3.2 pips, while EURUSD declined by 4.1 pips and GBPUSD fell by 4.3 pips. NZDUSD saw a gain of 2.4 pips. USDCAD moved down by 5.3 pips, USDCHF was down 0.8 pips, and USDJPY rose by 6.5 pips. XAUUSD saw a notable increase of 73 pips. For context, the median 1-hour move for AUDUSD after past releases is 9 pips, for EURUSD it is 11 pips, for GBPUSD it is 15 pips, for NZDUSD it is 9 pips, for USDCAD it is 12 pips, for USDCHF it is 11 pips, for USDJPY it is 15 pips, and for XAUUSD it is 33 pips. The measured moves for most pairs so far are smaller than their typical median 1-hour moves, with the exception of XAUUSD which has seen a larger move.