News that Intel will lay off 15,000 people after its bad balance sheets on Nasdaq has caused a serious decline in pricing. Although the 18,703 demand zone currently seems to be a level where buyers are strong, I expect this movement to be limited. If prices break the 18,703 demand zone, it is likely that the negative dominance towards the 18,297 demand zone will increase. From an optimistic perspective, if prices continue to stay above the 18,703 demand zone, a short-term correction movement towards the 19,195 levels may be possible.
Apple, Amazon and Intel announced their balance sheets for the April-June period. The revenues of Apple and Amazon, two of the US technology giants, increased in the April-June period, while Intel's revenue decreased. According to Apple's balance sheet, which accepts the April-June period as the third quarter in the financial calendar, the company's revenue increased by 5 percent annually to $85.8 billion in this period. The market expectation for Apple's revenue for this period was $84.5 billion. The company's net profit also increased by 7.9 percent to $21.4 billion in the same period. The company announced a profit of $19.9 billion in the April-June period of last year. The company's earnings per share increased from $1.26 to $1.40 in this period. During this period, Apple's iPhone sales decreased and Mac and iPad sales increased. Amazon's revenue fell short of expectations. Amazon's revenue increased by 10 percent in the second quarter of this year compared to the same period last year, reaching $147.9 billion. Amazon's revenue in the second quarter fell short of the market expectation of $148.56 billion.
The balance sheet of Intel, one of the world's largest chip manufacturers, showed that the company's revenue decreased in the second quarter. Intel's revenue decreased by approximately 1 percent in the second quarter of the year compared to the same period last year, falling to $12.8 billion. Intel's revenue during this period did not meet market expectations. The expectation was that the company's revenue would be $12.94 billion. The chip manufacturer's loss per share was 38 cents in the same period. Intel's balance sheet statement stated that it planned to implement a comprehensive cut in expenses, including a more than 15 percent reduction in the number of employees.
The EURUSD parity is trading at $1.0800 on the new day. Below the 1.08 level, which I follow as an important threshold level, it is expected that the euro-dollar parity will decline towards the 1.0780 - 1.0765 region with a downward trend. Above the 1.08 level, the 1.0856 - 1.0872 region is still seen as a more important resistance region. In today's data calendar, I will be following the latest changes in the employment market, and the Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings and Income data set from the US will be on my radar.
After the US data has continuously strengthened the dollar, the negative dominance in pricing continues. The market is focused on the US nonfarm payrolls data to be announced during the day. Positive data announced may increase the potential for decline and pull prices down to 1.0786 levels. However, for optimistic movements, the data must come negative in the expected direction. In this case, as long as the 1.0786 demand region is maintained, it can be expected that purchases will continue to be squeezed horizontally up to the 1.0849 supply region.
After the 25 basis point interest rate cut by the Bank of England in GBPUSD, I observe a negative dominance in sterling-based products. The 1.2709 demand zone stands out as an important area where buyers are concentrated on the parity; however, closings below this zone may support the ongoing declines towards the 1.2612 demand zone. In terms of optimistic price movements, a recovery towards the 1.2813 supply zone may be possible with reactions that may come from the 1.2709 demand zone. However, it is useful to keep in mind that the US data to be announced during the day may cause significant fluctuations in the market.
The negative US data in USDJPY yesterday supports the negative dominance in pricing. The 148.226 demand zone is at a critical level for buyers. Reactions that may come from this zone may bring about a medium-term correction towards the 153.113 supply zone if the non-farm payrolls data to be announced during the day are positive. However, in terms of downward potentials, if the 148.226 demand zone is broken, it may trigger medium-term pressure and a decline towards the 143.822 levels if the data comes negative.
The buying reinforcements that came after Fed Chairman Powell's dovish statements in ounce gold seem to have lost their effect. With the reactions coming from the 2453.5 supply region, the negative pressure on the price continues. The course under this region may show a decline towards the 2403.6 demand region. The expected negative data to be announced during the day may support the buying potential. Therefore, if the 2453.5 level, which is accepted as the reference point, is broken, the probability of the price rising towards the 2485.2 levels will increase.
The statements in the OPEC meeting in oil that there will be no change in production policy supported the negative dominance in pricing and caused a decline to the 75.95 demand region. However, the possibility of a production cut being brought up again in the meeting to be held in October may support the buying potential. Therefore, as long as the 75.95 demand region is maintained, the 78.52 levels will be the first seller region to be followed in the short term.
It is observed that the search for balance in Bitcoin is taking place above the 63832 demand zone, and the seller's dominance is prominent. It seems that the buying potential may still be valid above this zone and that prices are likely to rise towards the 73000 levels. However, in terms of opposite movements, breaking the 63832 demand zone may cause balances to change, which may trigger a decline towards the 56886 levels.
When the DAX is evaluated from a daily perspective, the declines in volume continue with strong momentum above the 17753 level. The statements from the members of the European Central Bank that two interest rate cuts may be made by the end of the year affect this situation. In this context, if the 17753 demand zone is broken, prices are likely to fall further towards the 16909 demand zone. In terms of an optimistic scenario, there is no clear development at the moment. However, if the current consolidation continues, prices may rise towards the 18790 supply zone with reactions from the 17753 demand zone.
The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are provided within the framework of the investment consultancy agreement to be signed between brokerage firms, portfolio management companies, banks that do not accept deposits and customers. The comments in this article are only my personal comments and these comments may not be appropriate for your financial situation and risk return. For this reason, investments should not be made based on the information and comments in my articles.
