Risk-on.
The latest talks between Russia and Ukraine are producing some positive undertones as Ukraine cites progress and Russia also saying that talks were "constructive". Going one better, Russia says that it is taking steps to deescalate the conflict in Ukraine. Of note, they are to cut military activity near Kyiv and Chernihiv.
That has seen the euro jump with EUR/USD hitting 1.1100 and equities also gaining. S&P 500 futures are up 0.7%. Meanwhile, oil is hammered lower as WTI crude now drops by over $5 to below $101.
