The correlation between the S&P 500 and EUR/USD remains quite strong but it is somewhat less than 1:1 today as shares rise 1.5% but EUR/USD remains in consolidation mode in the 1.5005 level. Not a bad day, for EUR/USD to be sure, but it suggests we may have to do a day or two of sideways action before a test of 1.5061 can unfold. Chinese offers are rumored at 1.5025, traders say. Intraday support is eyed in the 1.4975/90 area near-term.