Russian ruble is ticking up.
The petro-currency is up by 0.3% at 63.6919 per dollar as of 7:50 a.m. ET after strengthening by as much as 0.4% earlier in the day.
Senior executives from Lukoil, Surgutneftegaz, Tatneft, Rosneft, Bashneft, and Gazprom Neft are meeting with Russian energy minister Alexander Novak on Wednesday, according to Reuters.
The oil executives are reportedly meeting to discuss output cuts related to the OPEC deal.
Brent crude oil, the international benchmark, is down by 0.5% at $53.66 per barrel.
As for the rest of the world, here’s the scoreboard as of 7:49 a.m. ET:
- The British pound is down by 0.6% at 1.2607 against the dollar after data from the Office for National Statistics showed that UK industrial production fell by 1.3% in October.
- The Indian rupee is up by 0.2% at 67.626 per dollar after the Reserver Bank of India held its key interest rate at 6.25%, suggesting its assessment of the economy was “clouded” by the government’s decision to remove 86% of the rupees in circulation in an effort to crackdown on corruption.
- The Australian dollar is down by 0.2% at .7450 per dollar after the Australian economy contracted by 0.5% in the third quarter, the largest quarterly decline since the financial crisis. Australia’s economy is in the midst of a streak of 25 years without a recession (two consecutive quarters with negative GDP).
- The US dollar index is little changed at 100.48 ahead of the JOLTS report, which will be out at 10 a.m. ET.
- The Japanese yen is little changed at 114.03 per dollar.
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