The Russian ruble is rallying

The Russian ruble is rallying.

The currency is up by 1.4% at 65.2355 per dollar as of 7:42 a.m. ET.

Brent crude oil, the international benchmark, is up by 3.0% at $45.74 per barrel as of 7:43 a.m. ET.

Separately, Russia's Investigative Committee said on Tuesday it had detained Economy Minister Alexei Ulyukayev on suspicion of taking a $2 million bribe over a massive deal involving state-controlled oil giant Rosneft.  

As for the rest of the world, here's the scoreboard as of 7:46 a.m. ET:

• The British pound is down by 0.6% at 1.2418 against the dollar after the latest data from the Office of National Statistics showed that inflation came in below expectations. The UK's consumer price index came in at 0.9% year-over-year in October, dropping from 1% in the previous month, and below the forecast of 1.1%.
• The euro is up by 0.3% at 1.0765 against the dollar. Earlier, data showed that the German economy expanded by 0.2% quarter-over-quarter, below expectations of 0.3%. However, the German ZEW economic sentiment index came in at 13.8 in November, above expectations of 8.1, and above the prior month's 6.2.
• The US dollar index is down by 0.2% at 99.89, after poking through 100 during the previous day. On the data front, we'll be seeing empire manufacturing and retail sales at 8:30 a.m. ET and business inventories at 10 a.m. ET.  
• The Japanese yen is down by 0.2% at 108.25 per dollar.

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