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The Federal Reserve will hold a policy meeting this week, and market expectations for rate cuts are already fully reflected in the prices of major assets. White House National Economic Council Director Jared Bernstein's latest comments did not show a dovish bias, emphasizing that decisions should be based on data. This stance dampened investors' optimism about a easing cycle. According to the Chicago Mercantile Exchange FedWatch tool, the probability of a 25 basis point rate cut is about 89%, but this is already a market consensus.
Trump Opens Nvidia's Export to China, Tech Stocks Diverge Significantly
President Trump approved Nvidia's sale of H200 artificial intelligence chips to China and will receive a 25% share of the sales. This move marks a significant breakthrough for the world's most valuable tech company in lobbying efforts with China, with the potential to restore billions of dollars in business in key overseas markets. Stimulated by the news, Nvidia's stock price surged by 3.1% intraday and closed up 1.7%.

In 2025, the investment market experienced ups and downs, with multiple asset classes undergoing dramatic fluctuations. As we enter 2026, major global institutions have issued forecasts, indicating key turning points across various sectors. This article reviews authoritative predictions to help investors understand the market landscape for the coming year.
Cryptocurrency: Can Bitcoin and Ethereum sustain their upward momentum?
Bitcoin: Target price between $150,000 and $200,000
Currently, Bitcoin is trading around $92,110, with 2025 seeing an initial rise followed by a decline, ending roughly flat. For 2026, market expectations are notably divided.
Standard Chartered Bank has lowered its target price from $200,000 to $150,000, citing a slowdown in crypto treasury company (DAT) purchases as a potential drag. However, Bernstein remains optimistic, projecting Bitcoin could surge to $150,000 in 2026, with a bolder prediction that it might reach $200,000 in 2027.
Berns

What exactly does the US Dollar Index measure?
When it comes to the US Dollar Index, many investors may feel unfamiliar. However, if you've engaged in stock, forex, or commodity trading, you've definitely heard phrases like "US dollar appreciation" or "US dollar index strengthening."
The US Dollar Index (abbreviated as USDX or DXY) essentially serves as a gauge of the US dollar's international competitiveness. It does not track a single asset but instead monitors the relative exchange rate changes of the dollar against six major international currencies.
Think of the US Dollar Index as a global financial market thermometer. Since the US dollar is the world's primary trading and pricing currency, used in commodities, energy, gold, and cross-border investments, any fluctuations in the US Dollar Index can trigger chain reactions across global capital markets.
The six currencies that compose the US Dollar Index and their weightings
The US Dollar Index is not simply an average of the six currencies; instead, it is calculated based on the economic size of each country, trading activity, and

Choosing a securities broker is an important decision for investors, directly affecting investment costs and trading experience. The Taiwan market has many participants, but trading stocks, bonds, or futures options must go through a securities company. This article will analyze the competitive landscape of major Taiwanese brokers, their fee structures, and how to select the most suitable trading platform based on your needs.
Core Factors in Choosing a Securities Broker
Before making a choice among numerous brokers, investors need to focus on several decisive indicators:
Commission and Discount Structures
Commission fees are a significant part of trading costs. The official rate for Taiwan stock trading is 0.1425%, applicable to both buy and sell transactions, with a minimum of NT$20 per trade. Although there is a unified official rate, in practice, fierce competition among brokers has led to online order cost advantages, with most offering discounts ranging from 60% to 20%. It is worth noting that the transaction tax is 0.3% (collected upon selling).

In the past two years, global central banks have continued to increase their gold holdings. According to data from the World Gold Council (WGC), this trend has reached a half-century high. Driven by this wave of risk aversion demand, international gold prices have become a market focus. For Taiwanese investors, spot gold (XAUUSD) offers a low-threshold way to participate, allowing them to track international gold price fluctuations and flexibly operate through leverage mechanisms.
How Spot Gold Works
"Spot gold" and "gold spot" are essentially the same concept, referring to account-based trading based on the international gold price (XAU/USD). Investors do not need to involve physical delivery; they only need to profit from the price difference by buying and selling based on gold price movements. This type of trading is also known as "international gold" or "London gold," with prices directly reflecting real-time changes in international gold prices.
Unlike purchasing physical gold (bars, coins), which involves high costs and storage risks, spot gold trading can be done through virtual accounts.

The New Taiwan Dollar has recently staged its most intense appreciation show in 40 years. In just two trading days in early May, the New Taiwan Dollar against the US dollar surged nearly 10%, breaking the psychological barrier of 30 yuan, reaching a high of 29.59 yuan, a 15-month high. What secrets are hidden behind this dramatic volatility? Will the US dollar continue to fall? How should investors respond?
From Panic to Celebration: The Three Deep Drivers of TWD Appreciation
Trigger Points for the Market Sentiment Reversal
Looking back a month ago, the market was still worried that the TWD would break through the 34 or even 35 yuan mark. The turning point came when U.S. President Trump announced a 90-day delay in implementing the reciprocal tariff policy. This news instantly ignited two expectations:
First, global buyers, aiming to avoid tariffs, might concentrate their procurement from Taiwan, which would benefit Taiwanese exports and provide strong support for the TWD. Second, the IMF unexpectedly raised Taiwan's economic growth forecast, coupled with the impressive performance of the Taiwan stock market, creating a double

Why have gold prices surged like this?
Since the end of 2024, the international gold market has been in the spotlight. From reaching a historic high of $4,400 per ounce in October to subsequent fluctuations and adjustments, this rally has set a nearly 30-year record for gains—approaching the highest levels in 30 years for 2024-2025, surpassing 31% in 2007 and 29% in 2010.
But what truly piques curiosity is: what is driving the continuous rise in gold prices?
The Three Main Drivers of Gold Price Increase
Uncertainty Caused by Tariff Policies
Entering 2025, a series of tariff policies have triggered market caution. When the policy environment is full of variables, the demand for safe-haven assets emerges. Based on historical experience, during the US-China trade friction in 2018, gold prices experienced short-term increases of 5-10% amid policy uncertainty. The current situation is no different—market insecurity has driven up demand for

Many people are curious about blockchain but find it difficult to understand its essence. In fact, the concept of blockchain is not complicated—it is a distributed ledger maintained by numerous participants worldwide, ensuring that every record is transparent, secure, and tamper-proof.
From Ledger to Blockchain: The Evolution of the Concept
Imagine a ledger recording the flow of money, but this ledger is not maintained by a single institution; instead, it is backed up and verified simultaneously by thousands of computers. This is the core concept of blockchain.
The Meaning Behind the Name
The term "blockchain" comes from its unique data structure. Each transaction is recorded within a "block," similar to a page in a ledger. When a page is filled, the system automatically generates a new block. These blocks are arranged in chronological order and linked together through cryptographic algorithms, forming an unbreakable chain—that's what we call a "blockchain."
How Decentralization Works
In traditional systems

Last Week's Market Overview
In the past week (12/1-12/5), non-US currencies performed strongly. The US Dollar Index declined by 0.50%, among major currencies, the Euro appreciated by 0.36%, the Japanese Yen rose by 0.53%, the Australian Dollar had the largest increase of 1.36%, and the British Pound appreciated by 0.74%.
1. Rising Expectations for Yen Appreciation, but Gains Limited by Interest Rate Differentials
This week’s focus is on the Bank of Japan’s policy moves. Last week, USD/JPY fell by 0.53%, reflecting a significant increase in market expectations for Japanese interest rate hikes. According to Reuters, the Japanese government has indicated it will allow the Bank of Japan to raise interest rates, coupled with hawkish signals from Governor Ueda Kazuo. The market currently estimates a 90% probability of a rate hike in December.
However, intriguingly, despite the rising probability of rate hikes, the actual appreciation of the Yen has not been as strong as expected, with USD/JPY still hovering around 155. Experts analyze that this reflects the market’s perception of

The foreign exchange market has a daily trading volume of over $6 trillion, making it the largest financial market in the world. Many investors ask, "Can forex trading really make money?" The answer is that there is a possibility, but the risks are equally huge — statistics show that over 70%-80% of individual investors have experienced losses in forex trading.
With technological advancements, ordinary investors can now participate in the forex market. Currently, more than 30% of daily forex transactions come from retail traders, which has driven an explosive growth in retail forex traders. If you want to learn how to trade forex, this guide covers all the essential basics that beginners must understand.
Three Main Channels for Forex Investment
Before entering the forex market, you first need to understand what investment options are available. Different channels vary greatly in risk, return, and entry barriers.
Currency Exchange — The most basic method is simply exchanging one currency for another. When traveling and exchanging money at a bank, you are essentially engaging in the most

The New Taiwan Dollar has recently shown an astonishing upward trend, appreciating nearly 10% over just two trading days, successfully breaking through the psychological barrier of 30 yuan. What does this wave of exchange rate movement really signify? What is the future outlook for the USD exchange rate? How should investors respond to this major currency market upheaval? This article will analyze the economic drivers behind the TWD's appreciation, interpret the USD exchange rate trend, and offer practical trading advice for investors.
TWD's rally exceeds expectations! From a threat of depreciation to a miraculous appreciation
A month ago, the market was worried that the New Taiwan Dollar might break through 34 or even 35 yuan. However, market sentiment suddenly reversed. The market experienced a historic single-day increase—the largest in 40 years—where the TWD appreciated 5% against the USD, closing at 31.064 yuan, a 15-month high. Even more astonishing, the next trading day saw a further appreciation of 4.92%, with intraday prices breaking through the 30-yuan mark, touching a low of 29.59 yuan.
This wave

The Renminbi is quietly turning around
2025 is a turning point for the Renminbi. After experiencing a three-year depreciation cycle from 2022 to 2024, the Renminbi finally rebounded. In mid-December, the USD to RMB exchange rate surged past 7.05, reaching a high of 7.0404, the highest in nearly 14 months. What does this mean? Many are beginning to ask: Can I buy RMB now?
Currently, the USD to RMB fluctuation range has stabilized between 7.04 and 7.3, with an appreciation of about 3% for the year. The offshore market is even more volatile, fluctuating between 7.02 and 7.4, reflecting increasing sensitivity of international investors to the Renminbi.
Why did the Renminbi suddenly strengthen?
Looking back at the first half of 2025 reveals the clues. At that time, global tariff policy uncertainties were high, the US dollar index remained strong, and the offshore Renminbi once depreciated past 7.40.

Entering a new year, Bitcoin's performance has been disappointing. According to the latest data, Bitcoin is currently hovering around $91,950, well below the $126,080 all-time high set six weeks ago, representing a 6.84% decline year-to-date. Against the backdrop of a continued market downturn, a large number of high-level buyers are facing collective losses, and trading sentiment is extremely pessimistic.
Market demand wave has already faded
According to CryptoQuant's latest analysis, the core demand factors supporting Bitcoin's rise during this cycle are diminishing. Specifically: the pace of ETF holdings increase has significantly slowed, institutional investors (such as MicroStrategy and other companies) have basically halted coin purchasing activities, and the annual institutional strategic fund purchase volume has fallen to a historic low.
This shift implies that, although Bitcoin will not collapse immediately, the upside potential has been greatly compressed. Analysts point out that future rebounds

December 2025, the Taiwanese dollar to Japanese yen has reached 4.85, appreciating nearly 9% since the beginning of the year. Whether you're preparing to travel abroad, making long-term investments, or diversifying your currency holdings like exchanging USD for AUD, now is the critical moment. But the question is: how to exchange without losing out? We help you break down all the costs involved in currency exchange channels.
Why is the Japanese yen worth exchanging? Not just for travel purposes
Many people think exchanging yen is only for traveling abroad, but in reality, the yen plays an important role in the financial markets.
Travel and daily life: Most stores in Tokyo, Osaka, and Kyoto still rely on cash transactions (credit card penetration is only 60%), coupled with purchasing agents and online shopping demand, causing the demand for yen to continue rising.
Investment hedging characteristics: The Japanese yen, along with the US dollar and Swiss franc, is one of the world's three major safe-haven currencies. During the Russia-Ukraine conflict in 2022, the yen appreciated 8% in a single week, while the stock market fell 10%—this demonstrates the power of hedging. For Taiwan

If you're trading US stocks, you probably also want to try US futures. But what exactly are US futures? How do you trade them? How much margin is required? This article will help you understand all the key information.
Why trade US futures? The three main purposes
US stock futures are essentially: contracts to buy or sell US stock indices at a predetermined price at a future date. It sounds complicated, but in reality, it's just a game of against the spot stocks.
Specifically, for US futures, they represent a basket of US stocks' value, calculated by this formula:
Index points × multiplier($) = Nominal value of the stock portfolio
For example, if you buy a micro Nasdaq 100 futures contract (code: MNQ) at 12,800 points, you're actually buying a portfolio of tech stocks that mirror the Nasdaq 100 index, with a nominal value of: 12,800 × $2 = $25,600.

In the foreign exchange cross currency market, EUR/JPY is highly regarded for its volatility characteristics and trading opportunities. So how will this currency pair perform in the future? How does it differ from the spot market? And how can traders seize the trading opportunities within it?
Why pay attention to the EUR/JPY exchange rate trend?
EUR/JPY is one of the most traded pairs in the JPY cross market. Compared to the EUR/USD spot, it often exhibits greater volatility during certain periods, creating more profit opportunities for traders.
Taking the European Central Bank's rate hike in March 2023 as an example. When the ECB announced a 0.5% rate increase, the market was surprised by its hawkish stance. Although the euro strengthened afterward, due to the Federal Reserve's interest rates remaining higher than the ECB's, the traditional EUR/USD spot saw limited gains. However, because the Bank of Japan maintained its zero interest rate policy and driven by interest rate differential trading, EUR/JPY rose by 1.1% within four hours after the rate decision, far exceeding the spot market.