Euro holds steady ahead of ECB meeting

Euro stabilized against US dollar on Tuesday as market focus shifted toward the European Central Bank meeting later this week, during which the interest rate decision and policy directions will be discussed.

The ECB will release its interest rate decision on Thursday, with expectations that it will remain unchanged at 0.0%.

The decision will be followed with a press conference by the President of the Central Bank, Mario Draghi, to explain the decision and the latest developments on the economic arena in the eurozone and world markets.

Analysts spoke today about the possibility of a return by the European Central Bank to the quantitative easing programs to support the growth of the economy in the eurozone.

It is expected that the resigned IMF managing director, Christine Lagarde, will have the support of the European Parliament to assume the position of the head of the Central Bank, replacing Draghi.

In terms of trade, by 18:07 GMT, EUR/USD stabilized at 1.1217, with a high of 1.1234 and a low of 1.1208.