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·         USDJPY is approaching our first resistance at 113.47 (horizontal pullback resistance, 38.2% Fibonacci retracement , 61.8% Fibonacci extension ) and a strong drop might occur below this level pushing price down to our major support at 112.15 (horizontal overlap support, 100% Fibonacci extension , 50% Fibonacci retracement ).

Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.

Trading CFDs on margin carries high risk.

Losses can exceed the initial investment so please ensure you fully understand the risks.

·         Fed's Williams: US normalization is helping reduce imbalances in financial markets

Fed's Williams believes that the central bank's monetary policy normalization has an added benefit of reducing somewhat risks of imbalances in the financial markets.

Williams also reiterated expectation for further gradual rate hikes.

·         China’s export growth is expected to have further slowed in September, weighed down by a faster decline in orders as an intensifying trade war with the United States starts to hurt Chinese shipments, a Reuters poll showed.

·         Around 30 to 40 lawmakers from the opposition Labour Party would be prepared to back a Brexit deal that British Prime Minister Theresa May is trying to strike with the European Union, The Times newspaper reported, citing unidentified lawmakers.

The EU’s Brexit negotiators believe a divorce deal with Britain is “very close”, diplomatic sources told Reuters last week, though it is unclear whether May could get the deal approved by the British parliament.

Around 320 votes in the 650-seat parliament are needed to be certain of winning

·         U.S. President Donald Trump said on Tuesday his second summit with North Korean leader Kim Jong Un would be held after U.S. congressional elections on Nov. 6.

·         As Japan steps up to counter China's growing influence in Asia Pacific, Tokyo's efforts may not be as effective without "commitment" from the United States — a situation which may disadvantage regional countries as well as Washington, an expert told CNBC.

·         Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the International Monetary Fund said on Wednesday.

·         Oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned toward Florida, causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude output.

Brent crude LCOc1 futures were down 21 cents at $84.79 a barrel by 0434 GMT, after a 1.3 percent gain on Tuesday.

U.S. West Texas Intermediate (WTI) crude CLc1 was down by 34 cents, or 0.5 percent, at $74.62 a barrel, after rising nearly 1 percent in the previous session.

In the United States, nearly 40 percent of daily crude oil production was lost from offshore U.S. Gulf of Mexico wells on Tuesday because of platform evacuations and shut-ins ahead of Hurricane Michael.