The Russian ruble is still on fire after crude oil prices rose to 11-month highs.
The ruble is up 1.3% at 63.7488 per dollar as of 1:17 p.m. ET, while Brent crude oil prices are higher by 1.6% at $52.24 per barrel.
Perhaps not so unexpectedly, other petro-currencies are stronger, too. The Mexican peso is stronger by 1.2% at 18.1435 per dollar and the Canadian dollar is up by 0.2% at 1.2718 per dollar.
As for the rest of the world, here’s the scoreboard as of 1:17 p.m. ET:
- TheJapanese yenis up 0.5% at 106.80 per dollar after Japan’s economy grew by 0.5% in the first quarter, above economists’ expectations of 0.4% growth. On an annual basis, the economy grew by 1.9%.The dollar index is down 0.3% at 93.54 after the latest JOLTS report showed that jobs openings surged to a record high of 5.788 million. The South African rand is up by 1.20% after Fitch affirmed South Africa’s BBB- rating. However, the country’s economy sharply contracted by 1.2% in the first quarter – prompting analysts to argue that the country’s economy is “clearly heading in the wrong direction.”The euro is stronger by 0.4% at 1.1378 against the dollar after the European Central Bank began its corporate sector purchase programme, or CSPP, which will buy corporate bonds of companies with a high credit rating on a weekly basis. The Polish zloty is higher by 1.1% at 3.7901 per dollar after the Polish MPC kept interest rates unchanged at 1.50%, as was expected. “We think the Council will keep the policy rate at its current historic low throughout this year and next,” wrote Capital Economics’ William Jackson in a note to clients.