Wall Street climbs as dollar drop eases worry over earnings impact

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* The benchmark S&P 500 has fallen 2.7 percent in the last three weeks including a 0.9 percent drop last week. The Dow lost 0.6 percent last week while the Nasdaq declined 1.1 percent for the week.

* Investors were cautious ahead of a U.S. Federal Reserve statement due out on Wednesday as they expect the central bank to give a clearer signal on the timing of its first interest rate hike in almost a decade.

* The New York Fed's Empire State manufacturing survey is due out at 8:30 a.m. EDT (1230 GMT), followed by Industrial production numbers at 9:15 a.m., while NAHB/Wells Fargo Housing Market Index data is scheduled for release at 10:00 a.m.

* European shares rose on Monday with Germany's DAX .GDAXI hitting a record high as the euro struck a fresh 12-year low.

"Federal Reserve statement due out on Wednesday as they expect the central bank to give a clearer signal on the timing of its first interest rate hike in almost a decade.* The New York Fed's Empire State manufacturing survey is due out at 8:30 a.m"Investors bet the currency's fall will boost European corporate earnings while the rising dollar has been hurting the earnings of U.S. multinational firms.

* Uncertainty over Greece continued with leftist Prime Minister Alexis Tsipras saying on Monday that he would not accept a return to austerity, though he was convinced the country would strike a deal with international partners to keep finances afloat.

* Brent crude oil fell to around $54 a barrel on Monday, its lowest for more than a month, on rising global inventories and signs of a possible nuclear deal with Tehran that could allow more Iranian oil exports.

Futures snapshot at 7:20 a.m.:

* S&P 500 e-minis ESc1 were up 8 points, or 0.39 percent, with 89,383 contracts changing hands.

* Nasdaq 100 e-minis NQc1 were up 15 points, or 0.35 percent, in volume of 5,373 contracts.

* Dow e-minis 1YMc1 were up 63 points, or 0.36 percent, with 5,007 contracts changing hands.

(Reporting by Sinead Carew; Editing by Bernadette Baum)

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