1. Waiting for ECB

The European Central Bank's interest rate decision is due at 11:45GMT on Thursday, with most of the focus likely to be on President Mario Draghi's press conference 45 minutes after the announcement.

The ECB is not expected to move on rates, but it could extend the time frame of its €80 billion monthly asset-buying program beyond March 2017 and maybe even announce new assets to purchase, according to market watchers.

The euro climbed to a session high of 1.1279 against the dollar, the most since August 26. It was last at 1.1273, up 0.3%.

2. Economics

The weekly jobless claims report in the U.S. is due at 14:30GMT.

Meanwhile, European and U.K. stocks flipped between gains and losses in choppy mid-morning trade, as markets look ahead to the latest monetary policy meeting of the European Central Bank.

Earlier, Asian shares ended mixed-to-lower, with Japan's Nikkei ending down 0.3%, pressured by a stronger JPY.

3. Global market overview

U.S. stock futures are inching up.

The Vix index (VIX), which tracks volatility in U.S. markets, continues to slide further, indicating investors are feeling cool, calm and collected.

European markets are mostly positive in early trading, while most Asian markets ended the day with small gains.

Commodity prices are also advancing, with crude oil futures up 2% to trade around $46.50 per barrel.

The U.S. Energy Information Administration is reporting weekly crude oil inventory data 15:30GMT which could affect the direction of energy trading.

Gold is also up a bit to trade around $1,350 per ounce.

4. Fast and expensive

An American billionaire has taken the wheel at Formula 1.

John Malone's Liberty Media said it has agreed to acquire Formula One in a deal that values the racing series at $4.4 billion. Liberty will also be taking on $4.1 billion of Formula One's debt.

Bernie Ecclestone, the sport's colorful chief executive, will stay in his current role.