CURRENT_DATE(): will only give you the date.
NOW(): give you the datetime when the statement,procedure etc… started.
SYSDATE(): give you the current datetime.
Look at the seconds after waiting 5 seconds between now()1 sysdate()1 with the following query (scroll to the right):
select now(),sysdate(),current_date(),sleep(5),now(),sysdate(); -- will give -- now() sysdate() current_date() sleep(5) now()1 sysdate()1 -- 6/10/2014 2:50:04 AM 6/10/2014 2:50:04 AM 6/10/2014 12:00:00 AM 0 6/10/2014 2:50:04 AM 6/10/2014 2:50:09 AM