German ZEW Economic Sentiment comes out at 6.4 points, well below 12 points expected. On the other hand, the Current Conditions components missed with 53.1 points, above 48.9 predicted. 

EUR/USD is not going anywhere fast, consolidating its earlier slide.

The German ZEW Economic Sentiment was expected to tick up to 12 points in May, from 11.2 in April. The Current Conditions component carried expectations for a rise from 47.7 to 48.9 points.

EUR/USD was sliding towards the publication, trading around 1.1170 before the release. This is mostly the result of the stronger dollar.

Later today, euro-zone finance ministers will convene to discuss the Greek situation. The biggest sticking point is as always Greece’s debt. The IMF and Germany are at loggerheads: the IMF wants unconditional and upfront debt release as a condition for its participation. Germany rejects debt relief but wants the IMF inside.

More: Eurogroup likely to defer decision instead of deferring Greece’s debt