The European Central Bank is expected to announce its decision on interest rates at 7:45 am ET Thursday. Economists expect the bank to retain its refinancing rate unchanged at 0.05 percent.

Ahead of the announcement, the euro held steady against its major rivals.

The euro was worth 1.1315 against the greenback, 135.53 against the yen, 0.7315 against the pound and 1.0885 against the franc as of 7:40 am ET.

The material has been provided by InstaForex Company – www.instaforex.com