The U.S. technology sector hints at most solid growth in more than three years

The technology sector hinted at steep output growth in October, showed the latest U.S. Sector PMI data. The rate of growth accelerated for the third consecutive month to the most rapid rate since September 2014. Furthermore, it was the highest ranked sector in terms of growth performance. The financial sector continued to grow sharply, in spite of the pace of growth easing from September. In all, the sector indicated the second most rapid upturn.

Consumer services hinted at a further rise in output levels, with companies in the sector reporting solid and accelerated growth. Production levels in the basic materials sector continued to expand in October; however, the rate of the growth eased from the solid rate in September.

After the modest output growth in September, upturns in the consumer goods and healthcare sectors accelerated and were strong overall. However, the rates of rise were weaker than the long-run series average for both sectors, stated IHS Markit.

At 16:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 38.6307. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest