The European Central Bank has warned QE tapering by the Federal Reserve may cause a significant market shock for the eurozone.
Even though the eurozone has left the six quarter long double-dip recession behind, the region is likely to be faced with an unemployment rate of around 12% and an inflation rate well below 2% for at least another six quarters.
Minutes from the US Federal Reserve's October committee meeting have helped push Japanese stocks higher after the central bank hinted at slowing its asset purchase programme.
Janet Yellen has defended the Federal Reserve's quantitative easing programme in her first appearance before Congress.
The US economy has been hitting the headlines for all the wrong reasons in recent months.