AEX turns red while Bitcoin and gold rise

The AEX rate is having a bad day today, while Bitcoin and gold are actually writing green figures. Gold is at an all-time high, while Bitcoin is flirting with 64,000 dollars. Is the market slowly jumping over to “safe havens” or is this an exception?

Is the AEX an exception?

To see whether the moderate performance of the AEX is an exception, we should actually take a look at the opening figures of the American stock exchange.

Wall Street officially opens later this afternoon (3:30 p.m.), but the futures markets are of course already open. For now, the American tech exchange also seems to open with slightly red figures.

That may also explain why Bitcoin is having some trouble finally breaking through the 64,000 dollar price. In terms of economic data, there is no direct explanation for the day for the AEX.

For example, the Bank of Japan made an interest rate decision today, but they kept the interest rate at the same level. That did not cause a shock to the market and can even be interpreted positively.

The BoJ was considering another rate hike, which caused problems with the Yen Carry Trade in early August. Now, those problems are not happening because of the postponement of the rate cut.

Next week important

Next week promises to be another important one for the AEX. After the first substantial interest rate cut by the American central bank, it is important that the economy remains afloat.

If that works, the interest rate cuts could turn out to be very bullish for the AEX. In that context, there is another batch of important data scheduled for next week.

Among other things, we get two major health indicators for the US manufacturing and services sector, as well as consumer confidence, the latest estimate of economic growth for Q2 2024 and jobless claims.

Are they all positive and do they point to a strong economy? Then that is probably also good for the AEX rate.