Euro holds ahead of ECB decision and Draghi's speech

Euro stabilized against US dollar near a 1-week low today, on investors' aversion to building new positions ahead of the reveal of the ECB monetary policy decisions and Draghi's speech.

As of 7:04 GMT, EUR/USD rose by $1.1015, from the opening of $1.1009, with a high of $1.1017 and a low of of $1.1005.

Euro fell yesterday by 0.3% against US dollar, its second daily loss, as it fell to the lowest level in a week by $1.0985.

Euro fell by more than 3% against dollar since the first of july, and hit the lowest level in 28 months at $1.0925, with a drastic fall in economic activities in europe, which increased odds that more stimulus measures might take place by the European Central Bank.

The International Monetary Fund (IMF) urged the ECB last week to add financial stimulus, and also warned the european region of the current problems, in addition to UK's exit from the european union and italy's debts crisis.

Christine Lagarde, the most likely candidate for heading the ECB, said last August that the bank still has a chance to lower interest rates despite its risks for the monetary stability in europe.

While Mario Draghi stated that monetary policy makers didn't discuss lowering the interest rates on the july meeting, and the bank is ready to lower interest rates this September, while considering other monetary policy easing options.

Reuters quoted sources that said the the government bonds purchase program and monetary policy instructions may be revealed in the next ECB meeting this September. 

The ECB will end its meeting today, and the rate decision and monetary policy statement will be released by 11.45 GMT, and Draghi's speech will be at 12:30 GMT.

The Markets are anticipating several stimulus measures, as it's almost impossible for decisions in the opposite direction, especially with the european economy being weak, inflation rates being high, and the ongoing US-China trade war.