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Tuesday, February 7, 2017

The dollar is climbing after a Fed official says March is 'on the table'

[Screen Shot 2017 02 07 at 7.51.51 AM]Markets Insider The dollar is climbing. The US DOLLAR INDEX is up by 0.7% at 100.57 per dollar at around 7:51 a.m.The index's appreciation follows Monday evening comments from Federal Reserve Bank of Philadelphia President Patrick Harker, The index's appreciation follows Monday evening comments from Federal Reserve Bank of Philadelphia President Patrick Harker, who told reporters that the Federal Reserve's meeting in March is a live option for a rate hike. "March is on the table," he said. "I would never take a meeting off the table, it depends on how the data evolve." Separately, there's a bit of economic data out on Tuesday. Trade balance will be out at 8:30 a.m. ET, Jolts Job Openings at 10 a.m. ET, and consumer credit at 3 p.m. ET. As for the rest of the world, here's the scoreboard as of 8:03 a.m. ET: * The EURO is down by 0.7% at 1.0676 against the dollar after the conclusion of the International Monetary Fund's annual review of Greece. The review found that economic growth was likely to remain below 1% and that the debt-burdened country would most likely meet the preferred fiscal surplus target of most IMF directors. Separately, German industrial production fell by 3.0% month-over-month in December, below expectations of a 0.3% uptick. * The RUSSIAN RUBLE is weaker by 0.9% at 59.4126 per dollar, while Brent crude oil, the international benchmark, is down by 0.6%. * The BRITISH POUND is lower by 0.8% at 1.2372 against the dollar. The Halifax House Price Index fell by 0.9% month-over-month in January, below expectations of a 0.2% increase. It rose by 5.7% year-over-year, below expectations of a 6.0% increase. * The JAPANESE YEN is off 0.5% at 112.30 per dollar. * The MEXICAN PESO is down by 0.5% at 20.6376 per dollar. NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin


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