JPY Weekly Forecast (April 27 – May 1)

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The BOJ is up this week! Think it will affect JPY’s intraweek trends?

But first, did you miss last week’s price action? Read JPY’s price recap for April 20 – 24!

Now, here are other potential catalysts you should know about.

BOJ’s policy decision (Apr 28, Asian session)

Bank of Japan (BOJ) maintained its interest rates (-0.10%) and target 10Y JGB yield target (0.0%) as expected
BOJ increased pace of annual ETF purchases from 6T JPY to 12T JPY
BOJ vowed to increase easing measures “as needed”
JPY rose across the board aided by Trump hinting that the U.S. “may” be headed for a recession
Some traders expect announcement on additional (unlimited?) bond buying from BOJ this week
BOJ will also print its quarterly outlook, which could hint at the long road to economic recovery

Unemployment rate (Apr 27, 11:30 pm GMT) to inch up from 2.4% to 2.5% in March
BOJ’s core CPI (Apr 28, 5:00 am GMT) to maintain 0.2% growth in April
Industrial production (Apr 29, 11:50 pm GMT) expected to drop by 5.3% vs. 0.3% decrease in February
Retail sales (Apr 29, 11:50 pm GMT) seen at -6.0% vs. 0.6% gain in February
Consumer confidence (Apr 30, 5:00 am GMT) to improve from 30.9 to 31.5 in April
Tokyo’s core CPI (Apr 30, 11:30 pm GMT) seen lower from 0.4% to 0.1% in April

The safe haven yen could take hits if the risk-friendly theme continues to dominate the markets this week
Policy decisions from the Fed and the ECB can also affect overall risk-taking
Coronavirus updates and closure and reopening plans of major economies can also affect appetite for safe havens