The European Central Bank is slated to announce its monetary policy decision at 7.45 am ET Thursday. The bank is forecast to cut its deposit rate to -0.3 percent from -0.2 percent. The key refi rate is expected to be kept unchanged at a record low 0.05 percent and the marginal lending rate at 0.30 percent.
Ahead of the announcement, the euro recovered from its early lows against its major rivals.
The euro was worth 1.0594 against the greenback, 1.0829 against the franc, 0.7094 against the pound and 130.82 against the yen as of 7:40 am ET.
The material has been provided by InstaForex Company – www.instaforex.com