The preliminary United States S&P Global Purchasing Managers’ Index (PMI) data for April is scheduled for release today at 13:45 GMT. According to preliminary estimates, the US Manufacturing PMI is expected to expand at a faster pace, rising to 52.5 from the previous reading of 52.3. The Services PMI is anticipated to return to the neutral level of 50.0 after having declined to 49.8 in March. A reading above 50.0 indicates expansion in business activity, while a figure below 50.0 signals contraction. In March, the US Composite PMI stood at 50.3, reflecting modest overall business growth at that time [1].
The improvement in both the manufacturing and services sectors suggests that overall business output may have expanded at a faster pace in April. Investors are closely monitoring the private sector PMI data for insights into the impact of the Middle East War on US business activity [1].
Ahead of the PMI data release, the EUR/USD currency pair is trading 0.2% lower at around 1.1680. On the technical front, the pair is positioned just above the 38.2% Fibonacci retracement at 1.1666 but remains capped by the 20-period Exponential Moving Average (EMA) at 1.1689, indicating an uncertain near-term trend. The Relative Strength Index (RSI) at 50.2 is neutral, suggesting waning upside momentum, though the upside bias remains intact. Key resistance levels are identified at 1.1689, 1.1745, 1.1825, 1.1938, and 1.2082, while support levels are at 1.1666, 1.1567, and 1.1408 [1].
The S&P Global Composite PMI is a leading indicator of US private-business activity in the manufacturing and services sectors, with readings above 50 generally seen as bullish for the US Dollar (USD) and readings below 50 as bearish. The next release is scheduled for April 23, 2026, at 13:45 GMT [1].
CONCLUSION
The upcoming US flash S&P Global PMI data for April is expected to show an acceleration in both manufacturing and services activity, which could signal a strengthening US economy. Market participants are watching closely for any signs of impact from geopolitical tensions, with EUR/USD showing a slight decline ahead of the release. The PMI results will likely influence near-term trends in the US Dollar and broader market sentiment.