<p style=““ class=“text-align-justify“>It’s essentially a risk-on day as equities are surging, with European indices up over 1% and S&P 500 futures up 27 points, or 0.7%, at the moment. Bonds are also strongly bid (which these days is a positive development for risk) with 10-year Treasury yields falling back to 3.98%, down 9.5 bps on the day:</p><p style=““ class=“text-align-justify“>This is putting the dollar in the pressure cooker as the greenback is feeling the heat in trading today. USD/JPY is down about 100 pips to 147.70 with the dollar lagging across the board.</p>

This article was written by Justin Low at forexlive.com.

<p>Vitol’s CEO says significantly lower demand for oil products; we’ll see demand destruction for more months; „absolutely“ seeing signs of oil demand destruction </p><p>Also says China is unlikely to see demand rebound until H2 2023.</p><p><a target=“_blank“ href=“https://newsquawk.com/headlines/list#:~:text=Vitol%27s%20CEO%20says,until%20H2%202023.“ target=“_blank“ rel=“nofollow“>Link to Newsquawk’s report </a></p>

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

<p>The Kremlin has repeated the lines used at the weekend, but for those that missed them the first time around..</p><p>UKRAINIAN ACTIONS HAVE UNDERMINED THE DEAL</p><p>GRAIN DEAL IN THAT CASE IS RISKY AND NOT GUARANTEED</p><p>BLACK SEA GRAIN DEAL IS HARDLY FEASIBLE GIVEN THAT RUSSIA CAN’T GUARANTEE SAFETY OF SHIPPING</p><p>—–</p><p>KREMLIN, ASKED UNDER WHAT CIRCUMSTANCES IT MIGHT REJOIN GRAIN DEAL, DECLINES TO COMMENT</p>

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

<p><a target=“_blank“ href=“https://twitter.com/PriapusIQ/status/1587039925588967424?s=20&t=l1Fz4SLtX_ctZavjGmIsiQ“ target=“_blank“ rel=“nofollow“>Reuters Reports</a> – German households are paying more than 2-1/2 times as much for an average annual gas contract from their supplier than a year ago although wholesale prices are reflecting lower consumption and more diversified supply, data showed on Monday.Energy prices portal Check24 said the average gas price in October for a typical household consuming 20,000 kilowatt hours (kWh) stood at 3,726 euros ($3,702.15). A year ago – before Russia’s invasion of Ukraine and the resulting disruption to gas supplies – such a contract could have been secured at 1,365 euros.</p>

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

<p> Oil prices will find support from OPEC+ output cuts and sanctions on Russia for the rest of the year and into the early part of 2023, a Reuters poll showed on Monday, but a recession could limit further gains.A survey of 42 economists and analysts forecast benchmark Brent crude would average $101.10 a barrel this year, and $95.74 in 2023, up from estimates of $100.45 and $93.70 respectively in September.U.S. crude forecasts were raised slightly to $96.23 a barrel in 2022 and $90.39 next year, from the $95.73 and $88.70 consensus last month.However, on a quarterly basis, the Brent forecasts indicated a gradual trend downward next year, with the second quarter consensus at $96.38 a barrel versus $98.01 in the first, and a further dip to $94.70 in the third quarter.</p><p><a target=“_blank“ href=“https://twitter.com/PriapusIQ/status/1587037552267116544?s=20&t=XULIaVMKG6QwUzA_39ssHg“ target=“_blank“ rel=“nofollow“>Full Reuters Report</a></p><p><a target=“_blank“ href=“https://www.forexlive.com/terms/c/crude-oil/“ target=“_blank“ id=“e1f1b115-23d2-48c8-98c8-24024dada457_1″ class=“terms__main-term“>Crude Oil</a></p>

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

<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.