ISM Services 2026: Next Release Date, History & Market Reaction

US ISM Services PMI

United States · USD · next release, past figures and how EUR/USD, USD/JPY, Gold (XAU/USD) moved after each one. Times in UTC.

Next release Wed 4 Nov 2026, 15:00 UTC Estimate – · previous 54.9

Latest release 54.9 vs 55 expected 5 Oct 2026 · below the estimate

Typical EUR/USD move, 1 hour 9.4 pips median of the last 11 releases

What Is ISM Services?

The ISM services PMI surveys purchasing managers across the US services sector, the largest part of the economy. It is published on the third business day of the month at 10:00 a.m. New York time. Above 50 means activity grew; below 50, it shrank.

Services prices are a large part of US inflation, so the survey's prices-paid component gets close attention alongside the headline reading.

How the Market Moved After the Last Releases

Instrument	Typical 1h move	Typical 4h move	Largest 1h move	After a figure above estimate	After a figure below estimate
EUR/USD	9.4 pips	12.7 pips	18 pips 4 Feb 2026	Higher 2, lower 4 of 6	Higher 3, lower 1 of 4
USD/JPY	13.7 pips	13.6 pips	22.7 pips 6 Apr 2026	Higher 3, lower 3 of 6	Higher 1, lower 3 of 4
Gold (XAU/USD)	$4.85	$19.57	$65.39 4 Feb 2026	Higher 5, lower 1 of 6	Higher 4, lower 0 of 4
Last 11 measurable releases. "Higher" and "lower" count how the price stood one hour after the release. Rate decisions are usually in line with the estimate, so the statement and press conference drive the move.

Release History

Date (UTC)	Actual	Estimate	Surprise	EUR/USD 1h	USD/JPY 1h	Gold 1h
Mon 5 Oct 2026, 14:00 UTC	54.9	55	−0.1	+17.5 pips	−14.2 pips	+$11.33
Thu 3 Sep 2026, 14:00 UTC	55.4	54.3	+1.1	−8.5 pips	+2.4 pips	+$20.18
Wed 5 Aug 2026, 14:00 UTC	54.1	54.5	−0.4	+9.8 pips	−5.3 pips	+$38.09
Mon 6 Jul 2026, 14:00 UTC	54	54	0	+4.4 pips	+1.9 pips	−$2.66
Wed 3 Jun 2026, 14:00 UTC	54.5	53.8	+0.7	+9.4 pips	−2.6 pips	+$10.65
Tue 5 May 2026, 14:00 UTC	53.6	53.7	−0.1	+8.3 pips	−9.6 pips	+$2.95
Mon 6 Apr 2026, 14:00 UTC	54	55	−1	−16.8 pips	+22.7 pips	+$2.94
Wed 4 Mar 2026, 15:00 UTC	56.1	53.5	+2.6	+15.7 pips	−13.7 pips	+$4.85
Wed 4 Feb 2026, 15:00 UTC	53.8	53.5	+0.3	−18 pips	+20.6 pips	−$65.39
Wed 7 Jan 2026, 15:00 UTC	54.4	52.3	+2.1	−6.1 pips	+21.1 pips	+$0.83
Wed 3 Dec 2025, 15:00 UTC	52.6	52.1	+0.5	−2.9 pips	−14.1 pips	+$3.84
Wed 5 Nov 2025, 15:00 UTC	52.4	50.8	+1.6	–	–	–

ISM Services FAQ

When is the next ISM Services release?

The next ISM Services release is scheduled for Wed 4 Nov 2026, 15:00 UTC. Dates come from the economic calendar and can change.

How much does EUR/USD move after ISM Services?

Over the last 11 releases, the typical move in EUR/USD one hour after ISM Services was 9.4 pips, and 12.7 pips after four hours (median sizes, either direction). The largest one-hour move was 18 pips on 4 Feb 2026. Past moves are not a forecast of the next release.

How much does USD/JPY move after ISM Services?

Over the last 11 releases, the typical move in USD/JPY one hour after ISM Services was 13.7 pips, and 13.6 pips after four hours (median sizes, either direction). The largest one-hour move was 22.7 pips on 6 Apr 2026. Past moves are not a forecast of the next release.

What does a figure above or below the estimate mean?

The estimate is the consensus of economists' forecasts before the release. Markets price in that number, so prices react mainly to the surprise: the gap between the actual figure and the estimate, and to revisions of earlier months, rather than to whether the figure is high or low.