07:08 AM EDT, 04/11/2024 (MT Newswires) -- The EUR/USD (EUR/USD) was trading slightly lower in Thursday's European trading ahead of the European Central Bank rate decision.

EUR/USD was 0.1% lower to $1.0729 in recent trading.

The ECB is set to unveil its interest rate decision at 12:15 GMT, or 08:15 EST. As the ECB is widely expected to keep its benchmark rate unchanged at 4.50%, much of the focus will be on ECB President Christine Lagarde's press conference at a time when many are forecasting that the central bank could begin cutting rates as soon as June.

Recent data showing slowing euro-area inflation have added to expectations for a sooner rather than later ECB rate cut, pressuring the euro.