S&P Global Manufacturing PMI comes in at 53.9 against 54.5 consensus

The S&P Global Manufacturing PMI for the United States was released at 53.9. This figure came in below the consensus estimate of 54.5. The actual print also represented a decline from the previous month’s reading of 55.7. The surprise versus consensus was -1.1%.

Following the release, market reactions were observed across several pairs. Fifteen minutes after the data, AUDUSD was up 0.9 pips, EURUSD was down 0.6 pips, and GBPUSD was down 2.9 pips. NZDUSD gained 1.1 pips, while USDCAD fell 2.0 pips. USDCHF was down 1.8 pips, and USDJPY rose 14 pips. XAUUSD was up 6.2 pips. For context, the median 1-hour move after past S&P Global Manufacturing PMI releases has been 9 pips for AUDUSD, 11 pips for EURUSD, 14 pips for GBPUSD, 7 pips for NZDUSD, 12 pips for USDCAD, 9 pips for USDCHF, 14 pips for USDJPY, and 31 pips for XAUUSD. Many of the measured moves so far are small relative to their typical 1-hour moves.