S&P Global Services PMI (EUR) comes in at 51.6 against 51.7 consensus

The Eurozone S&P Global Services PMI for September 3, 2026, printed at 51.6. This figure came in slightly below the consensus expectation of 51.7. The previous reading for the index was also 51.7. The actual print represented a minor negative surprise of -0.2% compared to the market’s forecast.

Following the release, EUR pairs showed limited movement in the initial 15 minutes. EURAUD moved -9.2 pips after 5 minutes and -11 pips after 15 minutes. This is below its median 1-hour move of 12 pips. EURCAD saw a -1.2 pip move at 5 minutes and -5.1 pips at 15 minutes, which is less than its median 1-hour move of 9 pips. EURCHF moved -1.4 pips at 5 minutes and -0.2 pips at 15 minutes, compared to a median 1-hour move of 5 pips. EURGBP registered -0.7 pips at 5 minutes and -0.4 pips at 15 minutes, below its median 1-hour move of 8 pips. EURJPY moved -2.6 pips at 5 minutes and -11 pips at 15 minutes, which is near its median 1-hour move of 9 pips. EURNZD moved -9.8 pips at 5 minutes and -5.0 pips at 15 minutes, below its median 1-hour move of 13 pips. EURUSD moved -0.1 pips at 5 minutes and -3.5 pips at 15 minutes, which is less than its median 1-hour move of 7 pips. Overall, the measured moves for most pairs so far are small relative to their typical 1-hour movements after past releases.