S&P Global Manufacturing PMI preview: Consensus points to stronger activity

The S&P Global Manufacturing PMI for the United States is scheduled for release on September 1, 2026, at 13:45 UTC. Market consensus anticipates a reading of 55.5, an increase from the previous figure of 53.9. This high-impact economic indicator provides insights into the health of the manufacturing sector, with a reading above 50 generally signaling expansion.

Historically, this release has been associated with notable price action across the forex market. For instance, EURUSD has seen a median 1-hour move of 11 pips, with top-quarter releases moving 22+ pips over 210 events since 2015. GBPUSD has recorded a median 1-hour move of 14 pips, with top-quarter moves exceeding 26 pips over a similar period. USDJPY has observed a median 1-hour move of 14 pips, with top-quarter releases moving 24+ pips. Gold, XAUUSD, has shown a median 1-hour move of 31 pips, with top-quarter releases moving 63+ pips across 207 events. Other pairs like AUDUSD, NZDUSD, USDCAD, and USDCHF have also experienced significant median 1-hour moves ranging from 7 to 12 pips.

Recent actual prints for the S&P Global Manufacturing PMI include 53.9 in August, 55.7 in July, and 55.1 in June. These figures compare to forecasts of 54.5, 54.3, and 53.2 respectively. After the August release, EURUSD saw a 1-hour move of -16 pips. The July release was followed by a -9.9 pips move for EURUSD, and the June release by a -3.5 pips move.