Sentiment shows improvement, following news of an upcoming meeting between the Foreign Ministers of Russia and Ukraine. TASS reported that Moscow expects the two counterparts to meet tomorrow. 
US President Biden announced an embargo on Russian oil, gas and energy yesterday, "targeting the main artery of Russia's economy".
The UK said it will phase out the import of Russian oil during the course of the year  and the EU Commission unveiled a plan to reduce reliance from Russian energy, which can reduce EU demand for Russian gas by two thirds before the end of the year .
Russian president Putin signed a degree banning export of products and raw materials, as reported by Interfax , however no specific list has been published.
Credit rating agency Fitch downgraded Russia's Long-Term Foreign Currency Issuer Default Rating (IDR) to "C" from "B", reflecting its view that "a sovereign default is imminent". 
On the economic releases front, China's February CPI Inflation steadied at 9% year-over-year, while the Producer Price Index eased to 8.8% y/y from prior 9.1%.
Reserve Bank of Australia governor Lowe said that "it is plausible that the cash rate will be increased later this year" , in what appears to be a hawkish tilt.
Apple unveiled the latest budget iPhone SE, new Mac Studio and its most powerful iPad Air, among other things, during yesterday's March event. 
Google LLC announced an agreement to buy Mandiant for approximately $5.4 billion. Mandiant, Inc., is cybersecurity firm and will join Google Cloud once the acquisition is completed. 
Main Asia-Pacific stock markets were mostly down, whereas European futures are upbeat. In the FX space, the JPY Basket and the US Dollar are soft, while Antipodeans (AUD, NZD) strengthen against both.
EUR/USD trades with positive undertone above 1.0900, following yesterday's rebound.
GBP/USD finds support and reclaims 1.3100, after Tuesday's multi-month low.
USD/JPY extends gains towards 116.00.
USD/CAD pauses its four-day advance, after rejecting 1.2900.
AUD/USD rebounds and probes 0.7300.
NZD/USD is also in good mood, trading above 0.6800.
GER30 is on the front foot above 13,200.
US30 gains around 1%, trying to surpass 32,900.
USOIL is mixed below yesterday's fresh nearly 14-year high (129.46).
XAU/USD is cautious and concedes 2,045, after failing to set new record highs, during Tuesday's rally.
Economic Calendar Picks (GMT)
Today's docket is rather light, with US JOLTS Jobs Opening (15:00) and EIA Oil Stockpiles (15:30) standing out.
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 09 Mar 2022 https://tass.com/politics/1418847
Retrieved 09 Mar 2022 https://www.gov.uk/government/news/uk-to-phase-out-russian-oil-imports
Retrieved 09 Mar 2022 https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1511
Retrieved 09 Mar 2022 https://interfax.com/newsroom/top-stories/75965/
Retrieved 09 Mar 2022 https://www.fitchratings.com/research/sovereigns/fitch-downgrades-russia-to-c-08-03-2022
Retrieved 09 Mar 2022 https://www.rba.gov.au/speeches/2022/sp-gov-2022-03-09.html
Retrieved 09 Mar 2022 https://www.apple.com/newsroom/
Retrieved 02 Oct 2022 https://abc.xyz/investor/news/releases/2022/0308/