The European Central Bank (ecb)

The ECB had said it would extend its generous bond-buying program at its December meeting albeit at a reduced pace of purchases. The central bank explained the new pace of asset purchases would be scaled back from 80 billion euros ($85.3 billion) a month to 60 billion euros from April onward.

Euro rally tradable but prefer $ longer-term: Ashburton

Jonathan Schiessl of Ashburton says that the ECB decision was bit of a disappointment and could create more volatility in the markets.

ECB cuts euro zone GDP, inflation forecasts

Attention now turns to President Mario Draghi's news conference in Frankfurt at 2:30 p.m. local time, with analysts anticipating a dovish tone.

ECB holds rates despite Cypriot jolt to euro confidence

The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, as it waits to see whether the economy stabilises or a recent slew of weak economic data is a start of another downturn.