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Market Moves: Week Ending 23 August 2024

Crypto ETFs (BTXX, CRYP, EBTC, IBTC, VBTC) were some of the top performing assets of the week after Fed Chair Jerome Powell confirmed rate cuts were coming in the upcoming FOMC meeting.¹ Risk assets such as Bitcoin have historically performed better in low interest rate environments.
China-adjacent ETFs (CNEW, ASIA) were a theme across the poorest performers as EU trade tariff talks impacted sentiment around heavy-hitting EV stocks. If approved by EU member states, Chinese companies such as BYD, Geely, and SAIC will have to pay up to 36% in duties when importing vehicles made in China.²
There were $755.8 million in reported inflows for the week and $179.1 million in outflows, marking a week of net inflow for the Australian ETF industry.

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Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

^{Forecasts are not guaranteed and undue reliance should not be placed on them. This information is based on views held by Global X as at 27/08/2024. Investing involves risk, including the possible loss of principal. Diversification does not ensure a profit nor guarantee against a loss.}

^{Brokerage commissions will reduce returns.}

^{This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information is not intended to be individual or personalised investment or tax advice and should not be used for trading purposes. Please consult a financial advisor or tax professional for more information regarding your investment and/or tax situation.}

Authored by: Justin Lin

Date:
Aug 27, 2024

Category:
Reports

Topics:
ETF Express, Market Moves

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