The Russian ruble is tumbling

Markets
Insider

The Russian ruble is tumbling.

The petro-currency is weaker by 0.7% at 65.2758 per dollar
as of 7:48 a.m. ET.

Meanwhile, Brent crude oil, the international benchmark, is down
2.8% at $47.84 per barrel
amid tensions  within OPEC ahead of the cartel’s
Wednesday meeting.

Iran and Iraq are reportedly not keen to curtail oil
production, making it hard for the OPEC to reach a global
output-limiting deal. 

OPEC
sources told Reuters a meeting of
experts in Vienna on Monday failed to bridge differences between
Saudi Arabia and the group’s second and third largest producers
over the mechanics of output cuts.

As for the rest of the world, here’s the scoreboard as of
7:49 a.m. ET:

• The Japanese yen is down by 1% at 113.02 per
  dollar. Earlier, October data showed that Japan’s unemployment
  rate held at 3.0%, and the job-to-applications ratio
  rose to 1.40 — the highest since 1991. Moreover, retail
  sales fell by just 0.1% year-over-year for October, above
  expectations of a 1.2% drop.
• The US dollar index is little changed at
  101.42 after Monday’s early sell-off. «What had looked like a
  possible deeper dollar correction is turning into a consolidative
  phase that may be sufficient to alleviate the over-extended
  technical condition,»
  wrote Marc Chandler, global head of currency strategy at
  Brown Brothers Harriman, in commentary.
• The euro is down by 0.3% at 1.0583 against
  the dollar. France’s GDP rose 0.2% in the third quarter, in line
  with expectations, while French consumer spending rose 0.9%
  month-over-month in October, above expectations of 0.4%.
• The British pound is up by 0.4% at
  1.2469 against the dollar.