<p>Reuters Reports that – Germany should cap gas prices at 12 euro cents per kilowatt hours (kWh) for 80% of households‘ basic consumption from March 2023 until at least the end of April 2024, according to a report by the country’s expert commission to the government. </p><p>The cap should also benefit large industrial consumers and that should come into force from Jan. 1, 2023, the report said on Monday, also proposing to attach conditions on firms making use of it, such as keeping 90% of jobs for a year and maintaining existing sites in Germany.</p><p><a target=“_blank“ href=“https://twitter.com/PriapusIQ/status/1587035567430291456?s=20&t=u_Gir4XkKmV_XQqrXwRIgQ“ target=“_blank“ rel=“nofollow“>Full Reuters Note</a></p>

This article was written by Ryan Paisey at forexlive.com.

<ul><li>The median stock price prediction for Apple Inc. is set at $180, provided <a target=“_blank“ href=“https://money.cnn.com/quote/forecast/forecast.html?symb=AAPL#:~:text=Apple%20Inc%20(NASDAQ%3AAAPL)&text=The%2036%20analysts%20offering%2012,the%20last%20price%20of%20155.71.“>from 37 analysts</a> who have provided price estimates for the next 12 months</li><li>The highest Apple stock prediction is $200 and the lowest prediction is $122</li><li>Apple stock forecast from ForexLive.com, based on the following technical analysis video, is set at a minimum of $170</li><li>The Apple technical analysis below shows volume profile, an indicator for advanced charting that shows the total volume of trades at each price level over a period of time of the user’s choosing. In this case, I chose the last 5 earnings and 1 year till the recent Q4 2022 earnings report for AAPL</li></ul><ul><li>Investors and/or traders interested in purchasing Apple shares should do their own research, as this is not financial advice. Still, one option for purchasers is to ride the probable rise up to $170, take a partial profit (e.g., sell half of the position), and hold the rest of the stock position for the long term</li><li>If Apple’s stock price drops below $124, it would indicate an issue with the bullish assumption, and investors could want to consider liquidating at least half of their holdings in order to reduce their risk</li><li>Advanced stock buyers may want to consider a more complex, gradual accumilation of Apple stock as follows, taking an example for a buy of $110,000 for a total budget1. Buy $10k at a price at apx $155.55 (close to the recent close)2. Buy $20k at $148.553. Buy $30k at $142.054. Buy $50k at $138.05</li></ul><p>The ’scaling in‘ method includes heavier buying as the price declines, a stop loss and take profit target with a note that buyers can consider taking partial profit (eg, 50%) if the target is reached. The following video details how to buy APPL stock, according to this method, inspired by the ‚Fibonnaci entry method‘ that I created.</p><p>Buy or sell Apple stock at your own risk and return to ForexLive.com for additional perspectives and <a target=“_blank“ href=“https://www.forexlive.com/technical-analysis“>technical analysis ideas</a>.</p><p>Last but not least, here is an interactive weekly price chart of Apple:</p><p class=“tradingview-widget-copyright“><a target=“_blank“ href=“https://www.tradingview.com/symbols/NASDAQ-AAPL/“ rel=“noopener“ target=“_blank“>AAPL Chart</a> by TradingView</p>

This article was written by Itai Levitan at forexlive.com.

<ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/major-us-indices-close-near-the-highs-for-the-day-20221028/“>Major US indices close near the highs for the day.</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/wti-crude-oil-settles-at-8790-20221028/“>WTI crude oil settles at $87.90</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/how-did-the-stocks-who-released-earnings-do-this-week-20221028/“>How did the stocks who released earnings do this week?</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/other-markets-arent-confirming-the-move-in-equities-20221028/“>Other markets aren’t confirming the move in equities</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/baker-hughes-us-oil-rig-count-610-vs-612-prior-20221028/“>Baker Hughes US oil rig count 610 vs 612 prior</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/Cryptocurrency/doge-up-over-13-on-hopes-that-musk-will-save-the-day-to-the-moon-20221028/“>Doge up over 13% on hopes that Musk will save the day. To the moon!</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/european-stocks-finish-with-modest-gains-to-cap-a-sizzling-week-20221028/“>European stocks finish with modest gains to cap a sizzling week</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/october-is-proving-to-be-one-of-the-best-months-in-us-stock-market-history-20221028/“>October is proving to be one of the best months in US stock market history</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/fx-largely-indifferent-to-the-improving-us-equity-picture-20221028/“>FX largely indifferent to the improving US equity picture</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-pending-home-sales-for-september-102-vs-50-expected-20221028/“>US pending home sales for September -10.2% vs. -5.0% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/umich-october-final-consumer-sentiment-599-vs-598-expected-20221028/“>UMich October final consumer sentiment 59.9 vs 59.8 expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-september-pce-core-inflation-05-vs-05-estimate-20221028/“>US Q3 employment cost index 1.2% vs. 1.2% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-september-pce-core-inflation-05-mm-vs-05-expected-20221028/“>US September PCE core inflation +0.5% m/m vs +0.5% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/canada-august-gdp-01-vs-00-expected-20221028/“>Canada August GDP +0.1% vs 0.0% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/technical-analysis/the-eur-is-the-strongest-and-the-jpy-is-the-weakest-as-the-na-session-begins-20221028/“>The EUR is the strongest and the JPY is the weakest as the NA session begins</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/german-october-prelim-hicp-inflation-116-vs-109-expected-20221028/“>German October prelim HICP inflation 11.6% vs 10.9% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/forexlive-european-fx-news-wrap-eurozone-inflation-stays-hot-20221028/“>Forexlive European FX news wrap: Eurozone inflation stays hot</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/timiraos-leaking-economic-data-as-well-now-20221028/“>Timiraos leaking economic data as well now?</a></li></ul><p>The US stocks continued their move to the upside despite some concerning earnings from Amazon after the close yesterday. That was offset by Apple whose earnings and guidance was better than expectations. This week other big mega caps did not do all that well either with Microsoft, Google and Meta all underperforming, but that did not really matter today as all, with the expection of Amazon (which fell -6.8%) advanced (Apple +7.44%, Microsoft, +4.02%, Google, +3.97%, Meta, +1.29%). Even Intel which traditionally of late sells off the day after earnings, rose 10.66%. </p><p>For the week, the:</p><ul><li>Dow rose 5.72% and is on pace to have its best month with a 14.44% gain</li><li>S&P rose 3.95% </li><li>Nasdaq rose 2.25%</li><li>Russell 2000 rose 6.01%.</li></ul><p>The gains today came despite a rise in yields ahead of the all import Fed meeting next week. Looking at the yield curve, the:</p><ul><li>2 year 4.414%, +9.3 basis points</li><li>5 year 4.1809%, +9.1 basis points</li><li>10 year 4.0120%, +7.1 basis points</li><li>30 year 4.135%, up 4.1 basis points </li></ul><p>Although yields are higher on the day, they are lower for the week</p><ul><li>2 year fell -6.5 basis points after trading as low as 4.266%. The high for the week was at 4.528% on Monday</li><li>5 year fell -16.2 basis points but traded as low as 4.043%. The high for the week was at 4.40%</li><li>10 year fell -20.9 basis points but traded as low as 3.90% on Thursday. The high for the week on Monday reached 4.289%</li><li>30 year fell -20.7 basis points but traded as low as 4.054%. The high for the week reached 4.423%</li></ul><p>In the forex today, the GBP was the strongest of the major currencies. The GBPUSD is going out near its high for the day at 1.1612. There is a key downward sloping trendline on the daily chart cutting across at 1.1630 (and moving lower). Next week that line will be a barometer for bullish and bearish. There is also upside resistance at the 38.2% retracement of the 2022 trading range at 1.16479. The 100 day moving average is also in play 1.1733. Keep those levels mind going into the new trading week.</p><p>The weakest of the major currencies today was the JPY. It fell after the Bank of Japan kept rates unchanged and BOJs Kuroda said that he would add more stimulus if needed. For the USDJPY it is closing just above its 100 hour moving average at 147.32 (trading at 147.46). Stay above that moving average tilts the short term bias in the upward direction with the 200 hour moving average 148.422 going into the new trading week. Move below the 100 hour moving average and stay below would tilt the technical bias to the downside. With the fundamentals of a tightening Fed and a steady Bank of Japan, favors a higher USDJPY. However technicals can control market price action, and fundamentals do change, so the 100 hour moving average will be a key barometer in the new trading week that will help the traders decide the short term bias at the very least.</p><p>A snapshot of other markets as traders exit for the week shows:</p><ul><li>spot gold down $-17 or -1.03% at $1645.01</li><li>spot silver down -$0.34 or -1.74% at $19.24</li><li>WTI crude oil down -$0.80 at $88.28</li><li>bitcoin up marginally at $20,663</li><li>Doge coin was a bigger gainer with a gain of 0.8 cents or +10.99% to $0.08537. FOMO traders are hoping that Elon Musk will be more vocal and supportive of Doge now that he owns Twitter (who knows how he will use the app). </li></ul>

This article was written by Greg Michalowski at forexlive.com.

<p>The major US indices are closing near the high for the day and ending a solid week with the Dow industrial average leading the way. The Dow is on track for the best October, and on pace for the best month since January 1976 (with one more day to go). The NASDAQ was the outperforming index today with a gain of close to 3%.</p><p>The Dow is now up for its 4th consecutive week. That is the longest streak since 2021. The S&P and NASDAQ is posting its 2nd straight weekly gain.</p><ul><li>Dow industrial average is up 828.52 points or 2.59% at 32861.81</li><li>S&P index is up 93.78 points or 2.46% at 3901.07</li><li>NASDAQ index is up 309.79 points or 2.87% at 11102.46</li><li>Russell 2000 is up 40.59 points or 2.25% at 1846.92</li></ul><p>For the week:</p><ul><li>Dow industrial average is up 5.72%</li><li>S&P index is up 3.95%</li><li>NASDAQ index is up 2.25%.</li><li>Russell 2000 was the biggest performer with a 6.01% gain</li></ul><p>For the month of October so far:</p><ul><li>Dow industrial average is up 14.44%</li><li>S&P index is up 8.84%</li><li>NASDAQ index is up 4.98%</li><li>Russell 2000 is up 10.95%</li></ul>

This article was written by Greg Michalowski at forexlive.com.

<p>The GBPUSD is moving higher and looking to go out for the day near the highs. The high price has reached 1.16226. That is within 8 pips of the downward sloping trend line at 1.1630 currently. Yesterday the price moved to high of 1.1644. The 38.2% of the move down from the 2022 high reached in January is not far away at 1.16479. Moves above those levels next week will have traders next targeting the falling 100 day MA at 1.17337.</p>

This article was written by Greg Michalowski at forexlive.com.

<p>The price of WTI crude oil futures are settling at $87.90. That’s down -$1.18 or -1.52%. The high price reached $88.74. The low price extended to $87.10.</p><p>Looking at the hourly chart, the price high this week reached up to a swing area going back to early October between $89.72 and $90.37. The high price stalled ahead of that area. On the rotation back to the downside, the price return to a intraday range swing area near $86.98. That was also near the 38.2% retracement of the October trading range. Move back below that level and below the 100 hour moving average currently at $86.62 (see blue line in the chart below) would tilt the bias more to the downside and have traders looking toward the 200 hour moving average and $85.62.</p><p>Conversely stay above and a rotation back toward the $90 level would be eyed.</p>

This article was written by Greg Michalowski at forexlive.com.

<p>The week is winding down in the US stocks in what was the „Big Week“ for earnings. </p><p>Safe to say, the week was not as bad as the market expected. Looking at the major indices, the indices are currently showing:</p><ul><li>Dow up 5.52%</li><li>S&P up 3.67%</li><li>Nasdaq up 1.87%.</li></ul><p>So how did the list of the biggest names do relative to the S&P index?</p><p>Below is a list of most of the „biggest“ names that announced earnings this week. By no means does it represent all the names, but safe to say it shows the success of the week. Of the 51 companies on the list 33 of them outperformed the S&P, while 18 did worse than the S&P. </p><p>The biggest gainer was Wingstop which announce better earnings and lower costs. The price of chicken wings have moved lower, but safe to say, Wingstop have increased prices and benefitted from the higher revenues, without the corresponding higher costs. </p><p>The biggest loser was Meta which is dealing with costs soaring as a result of their plunge into to so-called metaverse. </p><p>Amazon, Alphabet and Microsoft are also lower as earnings and forward guidance has started to weigh on the stock prices for those past mega stars (and thought to be safe havens). </p><p>Those companies also suffer from the „big number“ problem. On the margin, it is simply hard to keep on increasing revenues, or customers (or whatever metric) at a double digit pace. When limits start to be met because growth trajectories slow, there can also impact on multiples as investors start to discount the trajectory of those future earnings. </p><p>When earnings are lower or slowing, and multiples are lower, that is the recipe for lower stock prices.</p><p>In the first phase of the price decline, we saw the declines in the ultra speculative issues that had multiples well over market averages. This week was about some of the mega cap safe players feel some of the impact of mulitiples being to high given growth trajectories. </p>

This article was written by Greg Michalowski at forexlive.com.

<ul><li>Prior was 10.9%</li><li>HICP m/m +1.1% vs +0.5% expected</li><li>Prelim CPI m/m +0.9% vs +0.6% expected</li><li>Prelim CPI y/y +10.4% vs +10.1% expected</li></ul><p>The regional numbers that have already been reported have been hot so this isn’t a huge surprise but it highlights the challgen the ECB face and that the 50 bps priced in for December 15 isn’t enough.</p>

This article was written by Adam Button at forexlive.com.

<ul><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/boj-governor-kuroda-20221028/“>BOJ Governor Kuroda says will not hesitate to ease further if needed</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-villeroy-says-no-obligation-to-raise-rates-by-75bps-at-the-december-meeting-20221028/“>ECB’s Villeroy says no obligation to raise rates by 75bps at the December meeting</a></li><li>France October CPI 7.1% y/y vs 6.4% expected</li><li>Spain October CPI 7.3% vs 8.1% expected</li><li>Italy October CPI 12.8% vs 9.9% expected</li><li>German Q3 flast GDP +0.3% vs -0.2% expected</li><li>Spain Q3 GDP +0.2% vs +0.3% expected</li><li>Eurozone economic sentiment 92.5 vs 92.5 expected</li><li>Swiss KOF October indicator 90.9 vs 93.2 expected</li></ul><p>Markets:</p><ul><li>Gold down $12 to $1651</li><li>Brent crude down 47 cents to $96.49</li><li>S&P 500 futures down 19 points to 3801</li><li>German 10-year yields up 13 bps to 2.11%</li><li>USD leads, JPY lags</li></ul><p>The euro has largely hung with the US dollar as we await German inflation data at the top of the hour. Returns so far in Europe have been hot and that will complicate the ECB’s job, though the market may be looking beyond October.</p><p>In Japan the yen is weak but did Kuroda open the door a crack to a hawkish shift when he said that that the underlying rise in inflation is likely to heighten medium and long-term inflation expectations and lead to a sustained rise in inflation accompanied by wage gains? I wonder if the market eventually circles back to that theme.</p><p>For now, bonds are in charge with rising yields rekindling the US dollar fire. Look for PCE to dictate the moves in US trading.</p>

This article was written by Adam Button at forexlive.com.

<p>WSJ Fedwatcher Nick TImiraos is tweeting about economic data at the moment and warning that PCE inflation „is expected to be on the high side“.</p><p>Given that he leaked a softening in the Fed stance on Friday, everything he writes gets extra scrutiny. That said, no one is leaking economic data to him. He’s refering to the consensus estimate on core at +0.5%, which he explicitly references.</p><p>Timiraos also highlights the employment cost index for Q3, which will be released at the same time as the PCE report. It’s lagged data but something the Fed has said it’s watching closely.</p><p>In any case, the market is smart enough to understand that Timiraos isn’t getting economic data ahead of time. The US dollar has been sliding in the past few minutes, which is the opposite of what you would get if today’s inflation data was hot.</p>

This article was written by Adam Button at forexlive.com.