Published at 01:50 (GMT) 27 Apr
FT: BoJ will be forced to cut its growth and inflation forecasts this week, but officials are signalling that extra economic stimulus is unlikely for now.
Japan's central bank is set to move its inflation forecast for the 2015 fiscal year down several tenths of a percentage point from the current 1% and shave its growth forecast from the current 2.1%, even as its quantitative easing programme buys Y80tn ($673bn) worth of bonds each year.
But despite a disappointing start to the year, with inflation dipping back to zero, BoJ Gov Haruhiko Kuroda has argued strongly that the BoJ's existing stimulus programme intended to boost inflation is on track.
On FX, all eyes on April 30 BoJ board meeting. Could see some lowering of forecast - but no extra easing. Though BoJ Kozo Yamamoto, architect of Abenomics - has piled pressure on BoJ to do more.
USD/JPY at 118.93-95, supported by Japanese fixing demand. Good bids at 118.50-60, offers at 119.00-10, stops above 119.10-15. More offers at 119.30-50.
AUD/JPY at 93.10-15, offers at 93.40-50, Japanese bids at 92.50-60. 2-way interest for now.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.