• MTS Economic News_20170309

    9 Mar 2017 | Economic News


• The dollar gained after U.S. hiring in the private sector surged in February, underscoring the economy's strength and adding to expectations the Fed will raise rates when policy-setters meet on March 15.

• The ADP National Employment Report showed private payrolls grew by 298,000 jobs last month, well above economists' expectations for a gain of 190,000. January's private payrolls gains were revised up to 261,000 from246,000.

• The dollar index .DXY was last up 0.1 percent at 102.150, close to a March 2 peak of 102.26. The dollar edged up to 114.52 yen JPY=, having been as high as 114.75.

• The single currency was stuck at $1.0538 EUR= in Asia on Thursday, well off a $1.0640 top hit early in the week.

• The European Central Bank meets later Thursday and is considered unlikely to tighten until the latter part of this year or early 2018, a Reuters poll found last week.

• Brent crude LCOc1, the international benchmark, settled down $2.81 at $53.11 a barrel. U.S. crude CLc1 fell $2.86 to settle at $50.28.

• Crude prices plunged more than 5 percent on Wednesday on a spike in U.S. oil stockpiles, while the dollar gained on increased expectations the Federal Reserve will raise U.S. interest rates next week after a robust report on private sector jobs.

• Kuwait Oil Minister Essam Al-Marzouq said on Wednesday that OPEC's compliance with an oil output cut reached last year stood at 140 percent in February, while non-OPEC members compliance was 50-60 percent.

Reference: Reuters

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