The Russian ruble is dipping

The
Russian ruble is weaker.

The petrocurrency is down by 0.7% at 57.6120 per dollar as of 8:13 a.m. ET.

Meanwhile, Brent crude oil, the international benchmark, is down by 1.1% at $US51.18 per barrel.

Later on Monday, Russia will be out with a slew of economic data, including PPI, retail sales, and industrial production.

And looking further ahead in the week, the Central Bank of Russia is meeting on Friday. The interest rate decision “will be a close call, but we think it is most likely that the recent decline in inflation will prompt the Board to cut the one-week repo rate by 50 basis points to 9.50%,” Capital Economics’ William Jackson wrote in a note.

As for the rest of the world, here’s the scoreboard as of 8:18 a.m. ET:

  • The British pound is little changed at 1.2382 against the dollar. A Downing Street spokesperson confirmed that Article 50, the formal notification of Britain’s intention to leave the EU, will be triggered on March 29. The notification will take the form of a letter addressed to Donald Tusk, President of the European Council.
  • The euro is little changed at 1.0749 against the dollar. Earlier, data showed that German PPI rose by 0.2% month-over-month in February, below expectations of a 0.3% uptick, and below the prior month’s reading of 0.7%.
  • The Mexican peso is down by 0.5% at 19.1657 per dollar.
  • The Indian rupee is up by 0.2% at 65.379.
  • The US dollar index is little changed at 100.35.

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