S&P Global Manufacturing PMI comes in at 53.9 against 55.5 consensus

The S&P Global Manufacturing PMI for the United States, released today, printed at 53.9. This figure came in below the market consensus expectation of 55.5, representing a -2.9% surprise against the forecast. The actual reading was unchanged from the previous month’s value of 53.9.

Following the release, initial market movements were recorded. AUDUSD moved -1.2 pips five minutes after the release and +1.3 pips after fifteen minutes. EURUSD saw a -1.7 pip move at five minutes and +0.4 pips at fifteen minutes. GBPUSD moved -7.6 pips at five minutes and -0.4 pips at fifteen minutes. NZDUSD registered -0.3 pips at five minutes and +2.4 pips at fifteen minutes. USDCAD moved -5.5 pips at five minutes and -2.4 pips at fifteen minutes. USDCHF saw a +1.6 pip move at five minutes and +1.5 pips at fifteen minutes. USDJPY moved +3.0 pips at five minutes and +0.7 pips at fifteen minutes. For most pairs, these initial movements are relatively small when compared to their historical median 1-hour moves, which typically range from 7 to 14 pips. XAUUSD, however, experienced a -15 pip move at five minutes and a +66 pip move at fifteen minutes. The +66 pip move for XAUUSD at fifteen minutes exceeds its historical median 1-hour move of 31 pips and also surpasses the 63 pips typically seen in its top-quarter releases.