US special envoy Witkoff reports significance progress on Ukraine and Russia in recent weeks

• Adds that the land deal remains the sticking point.
• Scheduled to meet Putin on Thursday.
• Ukraine has made significant progress amid the ongoing conflict.
• Uncertain about finishing off final 10% of the deal in the coming weeks, but highlights progress.
• "The Russians have invited us to come and that’s a significant statement"; will travel to Russia on Thursday with Kushner.

• Hamas is receptive to the idea of demilitarisation.
• Not negotiating with Iran right now but says its hard to tell if Iran is still killing protestors.

• There will be discussions on Greenland in Davos.

The recent report from US special envoy Witkoff indicates notable progress in discussions between Ukraine and Russia, particularly ahead of a critical meeting with Putin. While the land deal remains a contentious issue, this progress could potentially affect market sentiment, particularly in commodities like WTI and gold, as stability in the region may influence risk appetite and currency flows, especially for the USD and EUR.