S&P Global Manufacturing PMI (EUR) comes in at 52.8 against 52.4 consensus

The S&P Global Manufacturing PMI for the Eurozone printed at 52.8. This figure was above the consensus expectation of 52.4. The actual release also marked an increase from the previous reading of 51.9. The print represented a 0.8% surprise against the consensus forecast.

Following the release, EUR pairs showed varied movement over the first 15 minutes. EURAUD moved -1.0 pips, while EURCAD gained 0.5 pips. EURCHF saw a 1.4 pip increase, and EURGBP rose 2.8 pips. EURJPY advanced 6.0 pips, and EURNZD was up 7.1 pips. EURUSD increased by 4.3 pips. These initial movements are generally smaller than the median 1-hour moves observed after past releases, which include 11 pips for EURAUD, 9 pips for EURCAD, 6 pips for EURCHF, 7 pips for EURGBP, 9 pips for EURJPY, 13 pips for EURNZD, and 7 pips for EURUSD.