Eurozone Inflation in focus at 9am GMT- EUR/USD edges off session low

At 9am GMT the Eurozone will release its June flash HICP inflation report. This could have a significant impact on the Euro and the European stock markets. They have just now bounced off their lows for the time being and perhaps that is coming ahead of this data release? The EUR/USD has held the 1.0700 handle too, after tripping stops below 1.0720 earlier on. The low seen this morning has been set at 1.0712. There have been a whole host of ECB speakers talking today and the take-away from all that lot has been rather confusing in terms of bias, but that is more often the case with this bunch- divide and conquerer when it comes to any market impact. Of course the outcome of the French election is eclipsing all of this and that is going to determine what the ECB probably does anyway. So, all in the balance. As for the EU HICP data, the general consensus is for a slight drop, to around 2.8% (from 2.9%) in the core annualised rate. We also get the latest EU unemployment report out at the same time too. The EUR/USD is poised to react to any major surprise in this HICP data, currently trading at 1.0722