EUR/USD rally fizzles out again ahead of data releases this morning

Yesterday the EUR/USD lifted at the expense of the dollar and that saw it reach a high at 1.0726. The longevity of that rise was questioned there though and true to form it did not last. The EUR/USD edged lower into the US close, where it later ended that session at 1.0704. It has fallen back below the 1.0700 handle today. The low seen so far has been set at 1.0685, from an earlier Asian session high at 1.0711. Now, at 6.45am GMT we get some French CPI data, followed by Spanish HICP reports at 7am GMT. The latest German unemployment data is due for release at 7.55am GMT and that could have an impact too. What is clear; is the looming French Election (commencing on Sunday-round 1) is still very much a headwind for the Euro. Also the noted month-end touted dollar outflow is something to consider today, but so far there is no evidence that is showing up and once again doubts here; that it might do later on- we shall see. The EUR/USD is currently trading at 1.0696