EUR/USD last trades flat at $1.1304.....>

EURO-DOLLAR: EUR/USD last trades flat at $1.1304. The pair closed a touch higher

yesterday, after a recovery from Friday's late pullback low of $1.1293 faltered

just shy of Friday's peak of $1.1324, with price action driven mostly by USD

gyrations. Bulls remain focused on the aforementioned Friday's high and above

here would expose the 100-DMA at $1.1349. Conversely, should the rate dip

through the 50-DMA at $1.1299, bears would target the 21-DMA at $1.1274.

- The Bundesbank released its monthly report yesterday, stating that Germany's

GDP growth picked up only moderately in Q1, as it is dampened by industrial

downturn. The Bank noted that m'fing orders "literally collapsed," while the

mood has "significantly deteriorated."

- ECB's Villeroy said that the net impact of the ECB's sub-zero interest rates

is positive, despite earlier pointing to risks stemming thereof.

- EZ focus this week turns to German ZEW survey due later today, CPI data from

across the EZ due Wednesday, as well as flash EZ, French & German m'fing PMIs

due Thursday. ECB's Nowotny will speak later today, while his ECB colleagues

Villeroy and Lautenschlaeger will make addresses on Wednesday.