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This is according to forecasts from the latest Reuters poll on Japan – Q1 annualised GDP forecast of -3.7% – Q2 annualised GDP forecast of -6.1% – BOJ's next move is seen as expanding stimulus (31/40 economists surveyed) ForexLive

Forex news for Asia trading Wednesday 8 April 2020   The USD net gained during the session. US President Trump, despite in the past decrying the gains for the USD, mentioned on two separate occasions (at his coronavirus press briefing and then again later in a Fox TV interview) how strong the dollar is – […]

Reuters citing a letter they have seen from Iran's oil minister Iran oil minister says  – Iran does not agree with holding any OPEC+ meeting without having a "clear and consensual outcome" to oil market These seem like quite steep demands from Iran before the meeting has commenced. It is not going to be smooth

Thursday brings the meeting of OPEC and other oil producers to address the price war between Saudi Arabia and Russia, and also demand-side issues. It could be a wild ride with thin trading on Thursday across financial markets ahead of the Friday holiday in most major centres.

A research note via ANZ on the euro against the US dollar.  On the USD: On EUR: ForexLive

A snippet from WPAC on Thursday's OPEC+ meeting. — And, I really should note that nearly every time I post something on oil output cuts I get comments pointing out what WPAC have done above, that the demand collapse needs to be considered also. Great work to all that do so! 

GS on the emergency declaration in Tokyo, Osaka and some other parts of the Japan – Q2 GDP to be down 25% (q/q annualised)  – consumer spending to also fall 25% (ditto) —

Marta Morgan, has tested positive for COVID-19.  — Meanwhile, there has been nothing further out of the UK on how Prime Minster Boris Johnson is coming along. The most recent was this:

Trump interview on Fox. – says he had talks with Putin, Saudi Prince on oil  – ways he thinks its all going to work out on oil and the economy Says looking at next phase of stimulus measures 

Ardern says businesses will face a new normal at lower levels — The latest from NZ is that the current level of lock down will remain for another (just under) two weeks.