The euro plunged following Thursday news from the European Central Bank and U.S. stocks closed mostly higher on strong earnings releases ahead of Friday’s Asian trading day.

The European Central Bank on Thursday said it would reduce monthly asset purchases to 30 billion euros ($35 billion) from 60 billion euros beginning in January 2018. Those purchases would extend until September next year, the central bank said.

The euro tumbled in reaction to the news — even though analysts said the announcement had largely been in line with expectations. The common currency traded at $1.1647 at 6:45 a.m. HK/SIN after trading at levels around $1.18 earlier in the overnight session.

Stateside, tax reform was in the spotlight after the House narrowly passed a version of the 2018 federal budget and paved the way for passage of the GOP tax-reform package.

Stocks on Wall Street closed mostly higher on Thursday as investors digested better-than-expected results from multiple major companies. The Dow Jones industrial average rose 0.31 percent, or 71.40 points, to close at 23,400.86 and the S&P 500 edged up 0.13 percent, or 3.25 points, to end at 2,560.40. Meanwhile, the Nasdaq closed down 0.11 percent at 6,556.77.

In Asia, futures pointed to a higher open for Japanese equities. Nikkei futures traded in Chicago were up 0.62 percent at 21,875 while Osaka were 0.55 percent higher at 21,860. Those were above the benchmark index’s last close of 21,739.78.

Down Under, the S&P/ASX 200 was higher by 0.27 percent in early trade.

Ahead, investors will be focusing on earnings from corporates in the region, including Japan’s Sharp and Yahoo Japan, South Korea’s Kia Motors and China’s Ping An Insurance, China Merchants Bank, China Unicom and Bank of Communications.

Down Under, Australian dairy processor Murray Goulburn has consented to a buyout from Saputo, a Canadian milk company, valued up to 235 million Australian dollars ($180 million), Reuters said. Bega Cheese, an Australian company earlier reported to be an interested party, said late on Thursday it was bowing out of the race, the Sydney Morning Herald reported.

The dollar index, which tracks the U.S. currency against a basket of rivals, rose to 94.763 by 7:16 a.m. HK/SIN compared to levels around the 93 handle seen earlier this week.

Against the yen, the dollar traded at about 114.12.

Brent crude rose 1.5 percent to settle at $59.30 a barrel on Thursday — its highest close in 27 months, Reuters data showed. The rise in prices followed Thursday comments from Saudi Arabian Crown Prince Mohammed bin Salman about the Kingdom’s commitment to stabilizing oil markets.

U.S. crude futures added 0.9 percent to settle at $52.64.

Here’s the economic calendar for Friday (all times in HK/SIN):

• 7:30 a.m.: Japan September inflation
• 8:30 a.m.: Australia third-quarter producer price inflation
• 9:30 a.m.: China September industrial profits

— CNBC’s Christina Wilkie contributed to this report.