The ECB now plans to reduce monthly asset purchases between October and December to 15 billion euros until the end of 2018 and then conclude the program.
Gold prices are trading lower early Friday, putting it in a position to close lower for the week.
'China is unwilling to have a trade war, but the Chinese side has no choice but to strongly oppose this, due to the United States' myopic behaviour that will harm both parties. The common currency shed 1.9 per cent to the dollar, its biggest daily decline since Britain voted to quit the European Union in 2016.
The European Central Bank is meeting to discuss when and how to end its bond-buying stimulus program, an exit that will have far-reaching consequences across the economy.
In a rare merging of the sports and trading worlds, markets are gearing up for soccer's World Cup in Russian Federation, where time zone differences mean more matches during European, US and Latin American trading hours than any previous tournament.
Euro Zone bond investors responded immediately to the dovish response by the European Central Bank, cutting the chance of a 10 basis point rate hike by July 2019 from 80 percent before the meeting to just 30 percent by the close of the session.
Trump on Friday announced tariffs of 25 percent targeting $50 billion (43 billion euros) in Chinese imports from "industrially significant" technologies, making good on a pledge to punish the alleged theft of American intellectual property. He added that longer-term inflation expectations were "well anchored" towards the bank's target of just below 2%.
The single currency was hammered on trading floors after the ECB's announcement Thursday, which was accompanied by a cut in its eurozone growth outlook, citing rising protectionism and global trade fears.
The ECB sent the euro, the Australian dollar and emerging market currencies tumbling after it signalled the eurozone recovery was not almost as strong as everyone thought and that interest rates there were not expected to rise until late next year.
The decision represents a belief in the central bank that the eurozone economy, after years of weakness and recession, "is now sufficiently robust that it can start to withdraw monetary stimulus" says The Independent.
On Wall Street, two of the three main indices closed higher, with technology stocks leading the charge on the benchmark S&P 500.
The BOJ's inaction came after the U.S. Federal Reserve decided Wednesday to raise interest rates.
USA crude fell 0.3 percent to $66.44 per barrel and Brent was last at $75.95, down 1.03 percent on the day.