EUR Hits Monthly Lows – Overview for August 15, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_1-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>The predominant <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a>, <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a>, is in the process of stabilization after a tumultuous day marked by downward pressure. The present quote for EUR/USD stands at 1.0913.</p>
<p>The USD has reached its peak for the month, fueled by investors seeking refuge. Market participants have been steering away from risks due to apprehensions regarding the future of the Chinese economy. Furthermore, concerns were raised about the course of action the Bank of Japan might take, given the <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a>'s decline to its lowest point since last November.</p>
<p>Hence, the prevailing <a title="<div class="wpg-tooltip-content"><p>A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.</p></div>" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a> is USD acquisition as a strategy to mitigate risks.</p>
<p>Attention has shifted to developments in China, particularly news involving Country Garden, the largest private developer, attempting to defer payments on private bonds. This unprecedented move is causing heightened nervousness among market players, as such occurrences can potentially signal strains within the construction sector.</p>
<p>With the Chinese real estate domain already treading on the brink of a <a href="https://blog.roboforex.com/blog/2021/06/11/how-to-trade-in-forex-during-crises/" data-internallinksmanager029f6b8e52c="186" title="Crisis">crisis</a>, the news from Country Garden only exacerbates the existing pessimism.</p>
<p>The upcoming focus will be on the US retail sales data. For July, there's an anticipated growth of 0.4% month-on-month (m/m), following a 0.2% m/m increase in June. An upsurge in retail sales tends to be indicative of <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> tendencies. If the Federal Reserve proceeds with its <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> hikes, this could further bolster the USD's strength.</p>
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