The ruble is diving
Markets Insider
The Russian ruble is diving.
The currency is down by 1.1% at 62.8905 per dollar as of 12:49 p.m. ET.
Meanwhile, Brent crude oil is down by 1.5% at $50.05 per barrel. Earlier, it dipped below the $50 threshold.
As for the rest of the world, here's the scoreboard as of 12:06 p.m. ET:
- The US dollar index is down by 0.2% at 98.57. Earlier, Markit Economics' preliminary report for October showed that service-sector activity in the US improved at the sharpest rate in nearly a year, with the flash services PMI rising to 54.8 from 52.3 last month. However, new home sales came in lower than expected at 593,000 for the month of September, according to the Census Bureau.
- The euro is up by 0.3% at 1.0919 against the dollar. Earlier, the Gfk German Consumer Climate index, which measures the level of consumer confidence, came in at 9.7, below expectations of 10.0.
- The British pound is up by 0.4% at 1.2233 against the dollar. For what it's worth, Goldman Sachs analysts Robin Brooks, Silvia Ardagna, and Michael Cahill argue that sterling is actually still overvalued by around 10% — even though it has dropped by over 17% in the four months since the Brexit vote.
- The Australian dollar is up by 0.4% at .7675 per dollar after CPI data came in stronger than expected, rising by 0.7% in the third quarter, above expectations of 0.5%.
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