The Japanese GDP preliminary shrank by 0.9% during for the first quarter, following a contraction 0.3% in the fourth quarter, which was revised to -0.8%, while the analysts' expectations referred to -0.5%.

Moreover, Japan's annualized GDP preliminary reading came out at -3.7% in 1st quarter, compared with a previous shrink by 1.3% a year earlier that revised to -3.0%, while the analysts' forecasts estimated of -1.9%.