U.S. Sector PMI data showed a sharp growth in healthcare and consumer goods output in February. The sectors were tied at the top of the rankings, with the rates of growth reaching four-and nine-month highs, respectively. On the contrary, basic materials companies noted a contraction in production in February. The latest decline was the second in three months, although only marginal overall. The sector dropped down the rankings table having recorded the third-strongest growth of the seven monitored sectors in January.
The industrials sector saw a slower rise in output. Companies saw the softest increase in activity since April 2018. Meanwhile, technology firms continued to report a solid rise in business activity, in spite of the pace of growth easing slightly.
Meanwhile, consumer services and financials firms saw more rapid rises in output in February. Markedly, growth in financials business activity accelerated from January’s marginal rate and reached a seven-month high. Overall, the growth was strong.
At 19:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 103.169 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
