When is Japanese Q1 preliminary GDP data and how could it affect USD/JPY?


Japan’s Finance Ministry is up for releasing preliminary reading of first quarter (Q1) 2019 gross domestic product (GDP) figures at 23:50 GMT on Sunday (i.e. Monday morning in Asia).

Market consensus suggests 0.0% figure of the growth signal versus +0.5% previous readout (revised) on a quarterly basis. However, the yearly format indicates a rise of +0.3% into the headline economic data compared to -0.3% prior. Furthermore, GDP annualized may drop to -0.2% from +1.9% earlier.

How could Japan’s preliminary GDP affect USD/JPY?

With the majority of the Bank of Japan (BOJ) officials in favor of the central bank’s easy monetary policy, chances are less that a weak GDP reading could change the sentiment at BOJ. However, its negative impact on the Japanese Yen (JPY) can’t be denied.

Given the elections for the upper house in July and decision on whether to raise consumption tax or not lay ahead, today’s GDP data gains additional importance to drive the USD/JPY pair moves. However, on-going risk sentiment shouldn’t be undermined while forecasting the quote’s near-term momentum.

In a case where GDP disappoints, the USD/JPY pair may aim for 100-day simple moving average (SMA) level of 110.50 and then to 50-day SMA figure of 111.10 during further increase.

On the contrary, an upbeat print could add strength into the latest safe-haven buying of the JPY and may drag USD/JPY towards revisiting 109.70 and 109.00 rest-points.

Key Notes

USD/JPY analysis: corrective advance could extend up to 110.50

USD/JPY technical analysis: Buyers challenging the 110.00 figure

About the Japanese Q1 preliminary GDP

The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.

EUR/USD News

GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.

GBP/USD News

XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures