During today’s early trading session, Asian stocks traded higher after the European Central Bank’s press conference. ECB’s President, Mario Draghi laid out details of the quantitative easing program which is to start on March 9th. Implementing stimulus measures in the Eurozone, will drive market spectators to the stock market and in turn weaken the Euro. Elsewhere, shares in China rose following comments by Minister of Finance, Lou Jowei, he stated that he will increase the intensity of fiscal policy to ensure economic growth”.

During the European session, the Euro continues to drop sharply against the Dollar and has now reached its lowest level in over 11 years. The weaker Euro is an expected move following Thursday’s ECB press conference, ECB President Mario Draghi announced that €60 Billion a month of asset purchases will begin on March 9th. Following the details of the quantitative easing programme, European shares remain higher as the Euro declines.

During early U.S. trade, the Dollar is rallying against a basket of major currencies ahead of the Nonfarm Payrolls release later today. It is expected that 240,000 people were employed during the month of February. The U.S. unemployment rate will also be released, expected to have risen by 5.6%. Better than forecasted figures could influence the Fed to increase interest rates sooner.

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