Well, it looks like what the Chinese media reported earlier may hold true as Russian local media is bringing up hopes for negotiations and talks between Russia and Ukraine. RIA Novosti is reporting that the Russian delegation could comprise of defence and foreign ministry officials.

We're seeing the aussie and kiwi jump to fresh session highs now against the dollar and yen with US futures also shooting higher amid the headlines crossing. Nasdaq futures were down 0.6% earlier but have now turned positive and are up 0.2%.