U.S. financials business activity eases in January

U.S. financials business activity falls in January for the first time since December 2014. The U.S. Sector PMI showed that the financial companies hinted a contraction in business activity in January. Furthermore, financials firms were the only monitored sector to record a fall in output.

On the contrary, companies in the technology sector showed a pick-up in the pace of output growth in January. The pace of growth was the most rapid since last July and strong overall. The rise in business activity was the second most rapid of the monitored sectors. Moreover, industrials companies hinted at the strongest upturn in output for three months.

Both basic materials and consumer goods companies also recorded a strong rise in output in January. The former hinted a recovery in growth after a marginal contraction in December. On the contrary, consumer services and healthcare companies recorded a slower rise in business activity in January. Both sectors recorded the softest output growth for four months.

At 16:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 65.3291 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex