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EUR/USD eventually edges higher after France and Spain CPI slightly above forecasts

Initially the EUR/USD did not react much to the latest French CPI data slightly beating forecasts, but just now the Spanish data also replicated that and it seems that has helped it to rebound modestly from a new session low at 1.0826. However, we do have some important German unemployment numbers due out at 8.55am GMT, followed by a whole raft of regional German CPI reports later this morning. Leaving all that aside, the really important data due out today comes from the US. That is the January PCE report, at 1.30pm GMT. This could be a game-changer for the Euro today. Also to note some reports floating around the markets, advocating US dollar month-end outflow set for today. I cannot confirm that will be the case, so please do not shoot the messenger. Right now 1.08-1.09 has it surrounded for the EUR/USD, but that might not be the case by 10pm GMT this evening. The EUR/USD is right now trading at 1.0840  

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