FXstreet.com (Barcelona) - EUR/USD is falling today's American session with mixes sentiment on positive U.S ISM and Existing home sales data but concern on China equities. Last two hours pair has dropped around 90 pips from 1.4345 to post intra-day low at 1.4252. Currently the pair is trading around 1.4260/70, 0.50% below today's opening price action.
According to Kathy Lien, Director of Currency Research at GFT, the impact of this good reports may be limited: Looking ahead, even though the U.S. economic reports were predominately positive, the impact on the currency market may be limited to the knee jerk reaction because the market has already accounted for the improvements in the manufacturing and housing sectors. What we really need to see is a recovery in consumer demand.
Stock markets have turned back again and investors are taking for safe-have currencies on risk aversion.