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Euro higher after ECB Press Conference

The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20% respectively, as it was largely anticipated.
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Schäuble sees no need to disbursing further aid to Athens

German Finance Minister Wolfgang Schäuble sees no need to discuss “alternatives” or disbursing further aid to Athens, since “Greece has to deliver what it promised” on its current bailout program first, he said in a radio interview. “Greece committed itself to the fulfillment of this program on Feb. 20 and therefore we don’t need to talk about alternatives,” the minister said in an interview with Deutschlandfunk that aired Sunday, adding that the country has “quite a lot of work ahead to fulfill what it has promised.” Read more...

Euro testing 1.11 area as a support

Euro is still in decline, though there are no major data releases from Eurozone today. Only German PPI figures 
were released showing 0.1% increase in line with market expectations. The selling pressure accelareted yesterday when ECB board member Benoit Coeure said the central bank will increase its purchases of public and private debt in May and June. 
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Disappointing ZEW Economic Sentiment figures

The ZEW Indicator of Economic Sentiment for Germany declined in May 2015. Decreasing by 11.4 points compared to the previous month, the index now stands at 41.9 points, well below predicted figure of 48.8. Read more...

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