Markets around the world continue the rally post ECB stimulus announcement. Yesterday President Draghi delivered a much larger than expected plan with EUR1.13 trillion in purchases till September 2016 which boosted investors’ confidence on a global scale. Asian equities have responded positively all across the border. In the Forex market, the Euro has taken a beating and is trading at levels not seen since its issuance back in 2002. Currently, the common currency is trading just above $1.12 after dipping as low as $1.1147. Moreover, the QE announcement sent European bond yields to new record lows, particularly Spanish and Italian yields. European equity markets are currently responding with the some of the largest gains since 2011.
As the week comes to a close, US investors will likely work to figure out implications regarding the news from Europe as earnings season continues to roll.