The BoJ is expected to raise rates by 0.25 percentage points at its monetary policy meeting, and the market sees a possibility that yen weakness will accelerate depending on Governor Ueda's press conference. Against the backdrop of lower oil prices and reactions to US economic data, USD/JPY is also expected to move temporarily in the upper ¥117 range.
We have summarized the previous day's market movements and today's market outlook in a video. While oil prices continued to decline, US initial jobless claims came in below market expectations, and USD/JPY came under downward pressure at times in response.
The BoJ monetary policy meeting and Governor Ueda's press conference are among today's key events. The BoJ is reportedly expected to implement a 0.25 percentage-point rate hike in line with market pricing. With US interest rates also having been raised by 25bp at the FOMC, the yen's reaction is expected to vary depending on Governor Ueda's comments at the press conference.
The English summary explains that, as the BoJ determines monetary policy, the pace of further rate hikes will be a key focus, while the yen's strength or weakness will be influenced by movements in US interest rates and USD/JPY.
The latest economic indicator results, including those on the economic indicator calendar, can be checked on the Gaitame.com website. The article focuses on summarizing the video and organizing the key events, and does not provide investment advice.