* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr LONDON, June 28 (Reuters) - Euro zone government bond yields nudged lower on Monday, with investors awaiting direction from key economic data later in the week. News that the French far right failed to win a single region in elections on Sunday, according to exit polls, had little immediate impact on French bond markets. The results, while depriving its leader Marine Le Pen of a chance to show her party is fit for power ahead of next year’s presidential election, also showed no wins for the party of French President Emmanuel Macron. In early trade, France’s 10-year bond yield was a touch lower at 0.19%, with the gap over German Bund yields holding at around 35 basis points. Berenberg chief economist Holger Schmieding said the prospect of Le Pen replacing centrist Macron in next April’s presidential election -- a key tail risk -- had receded a little after Sunday’s regional election. “Although a regional vote with a record-low turnout of a mere 34% and its own campaign dynamics is no guide to the national election in April, the result may raise the hurdle which Le Pen would have to take to make it into the Élysée Palace,” he said. Across the euro area, most 10-year bond yields were slightly lower as investors looked ahead to this week’s flash euro zone inflation numbers and the U.S. non-farm payrolls report. Germany’s benchmark 10-year Bund yield was at -0.20% , marginally lower on the day. A hefty week for bond supply could put some upward pressure on bond yields. According to ING, more than 30 billion euros of scheduled supply is possible from Belgium, Italy, Spain and France. Analysts said the highlight is further issuance from the European Union to fund the bloc’s recovery fund. A deluge of supply may help explain the sharp selloff in southern European bond markets on Friday, they added. (Reporting by Dhara Ranasinghe; Editing by Kirsten Donovan) Our Standards: The Thomson Reuters Trust Principles.