S&P Global Services PMI comes in at 54.6 against 52.7 consensus

The S&P Global Services PMI for the United States was released today, August 5, 2026, at 13:46 UTC. The actual figure came in at 54.6. This was above the consensus expectation of 52.7, representing a 3.6% surprise. The previous month’s reading was 51.2.

Following the release, market reaction has been observed over the first 15 minutes. AUDUSD moved up 3.2 pips, while EURUSD moved down 4.1 pips. GBPUSD also moved down 4.3 pips. NZDUSD moved up 2.4 pips. USDCAD moved down 5.3 pips, USDCHF moved down 0.8 pips, and USDJPY moved up 6.5 pips. XAUUSD moved up 73 pips. For most pairs, these initial moves are smaller than their median 1-hour moves observed after past releases. For example, EURUSD’s 4.1 pip move is less than its median 1-hour move of 11 pips. XAUUSD’s 73 pip move, however, exceeds its median 1-hour move of 33 pips and is larger than its top-quarter move of 68+ pips.