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Eurogroup expected to approve aid payments for Greece and Cyprus; Slovenia woes return

FXstreet.com (Barcelona) - Eurozone finance ministers gather in Brussels today to discuss whether Greece and Cyprus should be granted bailout payments. Another item on the meeting agenda is the progress towards setting up the EU banking union.

Eurogroup officials will decide whether to release the first installment of the aid for Cyprus, amounting to 3 billion euros. They will also decide whether Greece should receive the next tranche of its rescue package, worth 7.5 billion euros.

Meanwhile, the week opens with renewed concerns about the situation in Slovenia, despite the fact that the country's government announced a reform plan last Thursday, aimed at shoring up finances and avoiding a bailout.

Still, German Finance Minister Wolfgang Schäuble said in an interview for a German radio today that in his opinion Slovenia can manage without international aid, provided that it carries out the necessary reforms.

Forex Flash: Completed the bullish triangle - Commerzbank

Karen Jones Head of FICC Technical Analysis at Commerzbank and Axel Rudolph Senior Technical Analyst at the bank have noted that EUR/JPY last week eroded the 130.73/131.12 April peak and charted a close above here, which has completed the bullish triangle.
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Forex: EUR/GBP recovers the mark of 0.8442/45

The EUR/GBP has traded unevenly during European trading, incurring a drop of nearly 20 pips earlier throughout Monday, before bottoming out at session lows at 0.8432. However, in recent moments, the cross has bounced higher to recover the mark of 0.8442/45.
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