U.S. financials sector posts sharp growth in July

The U.S. financials sector recorded ongoing sharp growth in July, showed the latest U.S. Sector PMI from IHS Markit Business activity at financial services companies rising at the second-fastest rate since November 2016 after the election of President Trump.

In the first half of 2017, the technology sector topped the growth rankings. Furthermore, the pace of growth stayed strong in July with the sector ranked second in the table. Industrials rose to third place in the growth rankings in July, up three places since June.

Growth of output was the most rapid since February. Consumer services companies recorded a resumption in growth of business activity at the beginning of the second half of 2017. However, the pace of growth was subdued and the most decelerating among the seven monitored sectors. Basic materials, consumer goods and healthcare all recorded strong rises in output in July.

At 18:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was bullish at 79.303. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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