{"id":67906,"date":"2023-08-15T10:50:23","date_gmt":"2023-08-15T07:50:23","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=67906"},"modified":"2025-11-25T14:30:15","modified_gmt":"2025-11-25T12:30:15","slug":"chinas-economic-woes-intensify","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/es\/chinas-economic-woes-intensify\/","title":{"rendered":"China\u2019s economic woes intensify"},"content":{"rendered":"<p>China\u2019s industrial production rates for July came in lower than expected, adding to the fears that the world\u2019s largest economy appears to be failing to recover since its post covid re-opening in January. Furthermore, the reduction in the retail sales rate\u00a0 appears to be adding to China\u2019s existing economic woes, with the PBOC lowering the rate on its one-year loans to 2.5%, the greatest reduction since 2020. Interestingly, Bloomberg stated that the youth unemployment data was not released, potentially hinting that the situation is much worse than what was anticipated. Over in Japan, the country\u2019s Preliminary GDP rates come in better than expected for both on a yoy level and on a qoq level, potentially validating the BOJ\u2019s decision to maintain their ultra loose monetary policy. However, the current exchange rate against the dollar has prompted statements from BOJ\u2019s Suzuki that\u00a0 the bank will respond appropriately to excessive moves in the FX market. The RBA\u2019s August meeting minutes state that there is a \u201ccredible path back to the inflation target with the cash rate staying at its present level\u201d. Potentially implying that the bank may be near or at its terminal rate level, yet the bank acknowledges that if inflation is persistent that what is currently forecasted, the bank may increase interest rates should it be deemed appropriate. In the equities markets, we note that in a report by Bloomberg, it is stated that UBS (#UBS) has agreed to pay $1.44 billion in order to settle a case with the US Department of Justice regarding how the company had handled residential mortgage-backed securities. Furthermore, we note that Home Depot (#HD) is due to release its earnings today.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"China\u2019s economic woes intensify\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/kx_0Wy3lMJg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>EUR\/USD appears to be moving in a downwards fashion, having broken below the sideways moving channel formed on the 3<sup>&nbsp;<\/sup> of August and having formed a downwards moving trendline on the 10<sup>.<\/sup> of August. We maintain our bearish outlook and supporting our case is the aforementioned downwards moving trendline, in addition to the pair breaking below support now turned resistance at the 1.0927 (R1) resistance level. For our bearish outlook to continue, we would like to see a clear break below the 1.0838 (S1) support level, with the next possible target for the bears being the 1.0740 (S2) support base. On the other hand, for a bullish outlook we would like to see a clear break above the 1.0927 (R1) and the 1.1040 (R2) resistance levels, with the next possible target being the 1.1140 (R3) resistance ceiling.<\/p>\n\n\n\n<p>Home Depot appears to be moving in an upwards fashion, with the stock now aiming for the 334 (R1) resistance level. We maintain a bullish outlook for the stock and supporting our case is the RSI indicator below our Daily chart which currently registers a figure near 70, implying a bullish market sentiment. For our bullish outlook to continue we would like to see a clear break above the 334 (R1) resistance level, with the next possible target for the bulls being the 344 (R2) resistance ceiling. On the other hand, for a bearish outlook, we would like to see a clear break below the 325 (S1) support level, with the next possible target for the bears being the 315 (S2) support base. However, we highlight that the company is due to release it\u2019s earnings report later on today and as such, there may&nbsp; be increased volatility at the time of the earnings announcement, with the potential for the stock to move in either direction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Otros puntos destacados del d\u00eda:<\/strong><\/h2>\n\n\n\n<p>In today\u2019s trading session we note the UK\u2019s unemployment rate for June, Sweden\u2019s CPI rate for July, Germany\u2019s Economic Sentiment and Current conditions figures both for the&nbsp; month of August and later on in the day, the US Retail sales rate and Canada\u2019s BOC Core CPI rate both for the month of July. In tomorrow\u2019s Asian session we highlight Japan\u2019s Reuters Tankan Manufacturing Index figure for August. On a more monetary level, we highlight Minneapolis Fed President Kashkari\u2019s speech later on today and the RBNZ\u2019s interest rate decision due out in tomorrow\u2019s Asian session.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-h4-chart\"><strong>#EUR\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/08\/image-69.png\" alt=\"support at   one point zero eight three eight and resistance at  one point  zero nine two seven downwards\" class=\"wp-image-67907\" title=\"eur-usd-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0838 (S1), 1.0740 (S2), 1.0640(S3)<\/p>\n\n\n\n<p>Resistance: 1.0927 (R1), 1.1040 (R2), 1.1140 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-hd-daily-chart\"><strong>#HD Daily Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/08\/image-70.png\" alt=\"support at  three hundred and twenty five and resistance at  three hundred and thirty four direction upwards\" class=\"wp-image-67908\" title=\"home-depot-daily -chart\"\/><\/figure>\n\n\n\n<p>Support: 325 (S1), 315 (S2), 302 (S3)<\/p>\n\n\n\n<p>Resistance: 334 (R1), 344 (R2) 355 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1984\" height=\"482\" src=\"\/wp-content\/uploads\/2023\/08\/image-71.png\" alt=\"\" class=\"wp-image-67909\" title=\"benchmark-15-08-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1070\" height=\"620\" src=\"\/wp-content\/uploads\/2023\/08\/image-73.png\" alt=\"\" class=\"wp-image-67911\" title=\"table-15-08-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1262\" height=\"1125\" src=\"\/wp-content\/uploads\/2023\/08\/image-72.png\" alt=\"\" class=\"wp-image-67910\" title=\"morning-releases-15-08-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\"><i>Si tiene preguntas generales o comentarios relacionados con este art\u00edculo, env\u00ede un correo electr\u00f3nico directamente a nuestro equipo de investigaci\u00f3n a <a href=\"mailto:research_team@ironfx.com\">research_team@ironfx.com<\/a><\/i><\/p>\n\n\n\n<p>Descargo de responsabilidad:<br><i>Esta informaci\u00f3n no debe considerarse asesoramiento o recomendaci\u00f3n sobre inversiones, sino una comunicaci\u00f3n de marketing. IronFX no se hace responsable de datos o informaci\u00f3n de terceros en esta comunicaci\u00f3n, ya sea por referencia o enlace.<\/i><\/p>","protected":false},"excerpt":{"rendered":"<p>China\u2019s industrial production rates for July came in lower than expected, adding to the fears that the world\u2019s largest economy<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-67906","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>China Slowdown, EUR\/USD Outlook and Home Depot<\/title>\n<meta name=\"description\" content=\"EUR\/USD outlook amid China slowdown, RBA signals, BOJ stance and Home Depot earnings, plus key CPI and retail data in focus.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/es\/wp-json\/wp\/v2\/posts\/67906\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s economic woes intensify\" \/>\n<meta property=\"og:description\" content=\"EUR\/USD outlook amid China slowdown, RBA signals, BOJ stance and Home Depot earnings, plus key CPI and retail data in focus.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/es\/chinas-economic-woes-intensify\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-15T07:50:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-25T12:30:15+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"China\u2019s economic woes intensify\",\"datePublished\":\"2023-08-15T07:50:23+00:00\",\"dateModified\":\"2025-11-25T12:30:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/\"},\"wordCount\":781,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"es\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/\",\"name\":\"China Slowdown, EUR\\\/USD Outlook and Home Depot\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/#website\"},\"datePublished\":\"2023-08-15T07:50:23+00:00\",\"dateModified\":\"2025-11-25T12:30:15+00:00\",\"description\":\"EUR\\\/USD outlook amid China slowdown, RBA signals, BOJ stance and Home Depot earnings, plus key CPI and retail data in focus.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/chinas-economic-woes-intensify\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China\u2019s economic woes intensify\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/es\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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