The euro weakened against its most major counterparts in the European session on Thursday, as the European Central Bank left its key interest rates and massive monetary stimulus unchanged, with low inflation across the bloc preventing the policy makers from withdrawing stimulus measures soon.

The Governing Council, led by ECB President Mario Draghi, kept all its three interest rates unchanged during the policy session in Tallinn, Estonia.

The main refi rate was held at a record low zero percent and the deposit rate at -0.40 percent. The marginal lending facility rate was kept at 0.25 percent.

The bank is also retained its asset purchases of EUR 60 billion a month till December 2017.

The ECB President Mario Draghi is scheduled to hold his customary post-decision press conference at 8.30 am ET. Draghi is unlikely to signal an early "tapering" of its asset-purchase program, but a subtle change in the language on the balance of risk and the forward guidance is likely.

Policymakers would also be presented with the latest set of macroeconomic projections in the latest meeting, produced jointly by euro area national central banks and ECB staff.

Data from Eurostat showed that the euro area economy expanded more than initially estimated in the first quarter.

Gross domestic product climbed 0.6 percent sequentially instead of 0.5 percent estimated previously. GDP had advanced 0.5 percent in the fourth quarter of 2016.

The euro held steady against its major rivals in the Asian session, with the exception of the Japanese yen.

The euro edged down to 1.1220 against the greenback, following a high of 1.1269 hit at 2:00 am ET. The next possible support for the euro-greenback pair is seen around the 1.11 region.

The euro, having advanced to a 6-day high of 1.0876 against the Swiss franc at 5:00 am ET, reversed direction and edged down to 1.0846. Continuation of the euro's downtrend may see it challenging support around the 1.06 level.

Data from the Federal Statistical Office showed that Switzerland's consumer price inflation accelerated unexpectedly in May.

Inflation rose marginally to 0.5 percent in May from 0.4 percent in April. Inflation was forecast to ease slightly to 0.3 percent.

Pulling away from an early high of 0.8698 against the pound, the euro fell to a 9-day low of 0.8668. Further weakness may take the euro to a support level around the 0.84 region.

The latest survey from the Royal Institution of Chartered Surveyors showed that U.K. house price balance fell in May.

The house price balance declined to +17 in May from +22 in April. It was expected to fall to +20.0. Moreover, British house prices grew at their weakest rate since August 2016.

The euro slipped to 1.5553 against the kiwi, its weakest since April 25. The euro is poised to challenge support around the 1.54 area.

The single currency pared gains to 1.4872 against the aussie and 1.5149 against the loonie, from its early highs of 1.4949 and 1.5220,respectively. The euro may possibly target 1.47 and 1.48 as the next support levels against the aussie and the loonie, respectively.

On the flip side, the euro appreciated to a 2-day high of 124.02 against the Japanese yen, compared to 123.61 hit late New York Wednesday. On the upside, 125.00 is likely seen as the next resistance level for the euro.

Looking ahead, U.S. weekly jobless claims for the week ended June 3 and Canada new housing price index for April are set for release in the New York session.

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