The European Central Bank kept, as expected, its key interest rate steady at a record low 1 per cent. President Mario Draghi signalled that the worst of the crisis might be over, even as the euro zone economy wasn't out of the woods yet.
"Available survey indicators confirm signs of a stabilisation in the euro area economy. However, the economic outlook is still subject to downside risks," Draghi said.
"The risk environment has improved enormously," Draghi said, according to Bloomberg. "We see many signs of returning confidence in the euro."
Across the pond, Labor Department data today showed that the number of Americans filing claims for jobless benefits climbed to 362,000 last week. That's above the 352,000 claims that was the median estimate in a Bloomberg News survey.
Investors are eyeing tomorrow's jobs report. It is expected to show that employers added 210,000 jobs to their payrolls last month, according to a Reuters survey, after creating 243,000 new positions in January. The unemployment rate is expected to have held at a three-year low of 8.3 per cent.
There are signs of struggle elsewhere. Today, Brazil lowered interest rates more than expected as it desperately tries to revive the pace of recovery in Latin America's largest economy after earlier this week reporting a lacklustre 2.7 per cent increase in gross domestic product last year.