Global macro overview for 14/07/2015:
Readings for ZEW economic sentiment index in Germany revealed another slide. This time, it dropped to the level of 29.7 from the previous level of 31.5 points. This reading was worse than expected 30.6 points. This drop is the fourth over last months. On the other hand, a slight improvement in ZEW current situation reading can be noticed as the current 63.9 points are better than 60.0 points, which analysts had expected, and better than 62.9 a month ago. Nevertheless, the market is not much impressed with ZEW data as the main focus still remains on Greece. The EUR/USD jumped slightly during the time of relase, but currently the bias is still fundamentally bearish.