The Russian ruble is climbing.
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The Russian ruble is climbing along with oil
The Russian ruble is stronger by over 1% on Tuesday.
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The petro-currency is up by 1.1% at 57.3548 per dollar as of 7:49 a.m. ET.
Meanwhile, Brent crude oil, the international benchmark, is higher by 1.1% at $56.19 per barrel.
"Fundamentals in Russia remain strong, but oil remains the main driver," argued Morgan Stanley's James Lord in note including a round-up of EM currency summaries.
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"The recent news that the Central Bank of Russia will be intervening to buy USD in the market in quantities equal to the excess oil and gas revenues it receives, will likely lead to profit taking amongst investors," he continued. "Nonetheless, more cautious monetary policy could compensate, and we are not turning bearish on the currency."
As for the rest of the world, here's the scoreboard as of 7:55 a.m. ET:
- US dollar index
- Later on Tuesday
- before the Senate Banking Committee for her semiannual Humphrey-Hawkins testimony.
- euro
- British pound
- Brazilian real
- South African rand
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