It seems that the AEX will open at 905 points. This means there is a slight increase in relation to the closing price of 901 points that was on the signs on the Damrak in Amsterdam yesterday. We also see that the Asian stock exchange is flat, we expect a higher opening for Europe and the American futures are slightly higher.
The return of risk-on?
The year 2025 has been characterized so far by a large risk-off movement among investors. They took the risk of the table, because Donald Trump’s trade war causes great uncertainty and the chance of a global regession has increased considerably.
As a result, investors searched for protection, and it was found en masse in gold. It is not without reason that we saw the gold price rising by almost 30% in 2025, and the sentiment arose that a gold price of $ 10,000 per ounce was possible.
In principle that is also possible in the long term, but often you are close to a top when you start hearing that kind of excessive predictions. The same applies to the AEX, to Bitcoin and to practically all other financial assets on earth.
Gold was almost sacred, while reality is probably that the precious metal performs well at times of fear. Now we see the anxiety reducing and daring to take some risk again, but it seems too early for the conclusion that there is plenty of risk climate again.
We are not there yet
The graph below shows the return for various stock market indices, gold and bitcoin over 2025. We see that gold is still prevailing, but that other assets are causing cautious again.
There is a striking second place in the graph for the German Dax, which for the time being a return of 16.62% generated in 2025. For the AEX it is all a bit awkward with an increase of 1.66%.
In that respect, the Dutch stock market can still use some good news, and the AEX is not yet at the desired level. Although we should not forget that the year is only a little more than four months on the road. In that respect there is still enough time to improve.
Source: https://newsbit.nl/aex-omhoog-europa-hoger-azie-vlak-en-futures-vs-licht-hoger/
