EUR/USD edging lower this morning

Yesterday the drop below the 21 day moving average in the EUR/USD came for good reason- the latest French and German PMI data was dire. That said the Euro did manage to recover a fall to 1.1083 and rebound back above 1.1140 later in the day. That move seemed entirely at odds with the data, but it did later drift back into the US, ending that session at 1.1111. It has not made much in the way of any traction so far today, with the high seen earlier at 1.1120. Look, if you stand back and look at what is going on in France and Germany right now, you could be forgiven for thinking; why is the EUR/USD not lower? Hard to deny that here really, but perhaps the looming month, quarter and half year-end has much to do with that? So, perhaps we see how the dollar will fare in Q4 is probably even more pertinent right now, given the degree of uncertainty over the outcome of the November US presidential election. Do not also forget the Fed out-cut the ECB last week too. Perhaps, were it not for all those reasons, the dollar would be higher right now. Next up comes the German IFO at 8am GMT and what impact that might have today. The EUR/USD is currently trading at 1.1105