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Recent press has been centred on a ¥10 trillion package. If true, this would clearly be a sign of intent from the Abe government, although most economists would still stress that genuine reform still needs to be addressed to really put Japan on the right path.
One can look at a number of risk and sentiment indicators to show markets are just way too cool for school. The US volatility index (or the ‘VIX’) is at the lowest levels of the year - anything below 12 highlights that expected moves over the coming 30 days are basically non-existent. Not great for traders, but these are conditions we need to adapt to.
Gold prices look like they are heading lower and I am now specifically targeting $1250 (or a move or around 5%). I sit in the camp that the highs have been seen in this move in gold and we could see $1100 and even a re-test of the 2015 low of $1046 over time. Certainly, if history repeats, then the set-up looks remarkably similar to moves we saw in the early 1980s.