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Non-farm employment data is an important indicator for global investors, as it reflects the state of the U.S. economy and influences the dollar, stock markets, and cryptocurrency markets. Official large non-farm and private small non-farm data each serve their own functions. Investors should conduct a comprehensive analysis of the unemployment rate and other economic indicators, and focus on long-term trends rather than single-month data to make more rational investment decisions.

The harsh reality: Why must you invest?
At the end of the year, a painful truth emerges—price inflation far exceeds salary growth. Egg prices have doubled, food consumption has increased by 20~30%, and mortgage rates have risen from the pandemic low of 1.31% to 2.2%. For a mortgage of ten million, this 0.89% interest rate difference results in an additional annual cost of 89,000.
All signs point to the same conclusion: passive waiting for salary increases is no longer enough to combat inflation, and proactive investment and financial management have become a necessity, not an option.
However, investing is not a complicated financial game; fundamentally, it is similar to running a small business—requiring the perfect combination of thinking, projects, and time.
Step 1: Know Yourself and Set Goals
Many people rush into the market with their first bit of spare money, often resulting in losses. The root cause is a lack of proper preparation.
Keeping accounts is the fundamental homework of investing. Treat yourself as a company and manage your finances accordingly.

In just a few days, the New Taiwan Dollar (NTD) has surged by 10%, causing intense market volatility
Recently, the New Taiwan Dollar has experienced a remarkable rally amid the impact of US trade policies, drawing widespread market attention. In early May, within just two trading days, the NTD appreciated nearly 10%, soaring from above 32 to the 29 level, marking the largest single-day increase in 40 years. This exchange rate movement not only set the third-largest trading volume in the history of the foreign exchange market but also prompted investors to consider: Will the NTD continue to appreciate? Will the US dollar remain weak?
It’s important to note that just a month ago, the market was worried that the NTD might depreciate to 34 or even 35. Now, the situation has completely changed. What economic logic underlies this dramatic reversal?
Three driving forces behind the NTD appreciation
Tariff policies as the trigger
The announcement of the Trump administration’s reciprocal tariff policies ignited this wave of exchange rate volatility. After the announcement that tariffs would be delayed by 90 days, the market

Yuanjing's stock price recently surged over 40%, but its financial data shows significant net losses, reflecting the risk of a disconnect between the stock price and fundamentals. Musk's proposed space AI project has driven market attention to solar energy stocks, but industry experts warn that implementation still faces challenges. Investors should rationally assess risks and industry prospects.

Ten-Year USD Exchange Rate Cycle Review: Why the New Taiwan Dollar Is Emerging as a Surprise
Over the past decade (October 2014 to October 2024), the USD/TWD exchange rate has fluctuated between 27 and 34, with an overall volatility of about 23%. In comparison, the USD/JPY has experienced a volatility of up to 50% (ranging from 99 to 161), highlighting the relative stability of the Taiwan dollar. This stability is not a coincidence but stems from the Taiwan Central Bank’s long-term moderate interest rate policies and solid economic fundamentals.
However, this "stability" has recently been broken. In early 2025, a series of geopolitical and trade policy changes triggered an unprecedented rapid appreciation of the Taiwan dollar, with a nearly 10% increase over just two trading days, pushing the USD/TWD exchange rate from around 32 to a new high of 29.59.
From Central Bank Constraints to Market Sentiment Reversal: The Three Forces Behind the TWD Appreciation
Trade policy shifts are the ignition point

According to the latest news on the British pound, despite a recent short-term rebound against the US dollar, institutions generally remain bearish on its long-term trend. Goldman Sachs explicitly stated that the UK's fiscal constraints will continue to be a core factor putting pressure on the pound.
The "illusory" nature of the short-term rebound
On December 3rd trading, the GBP/USD rose to 1.3350, reaching a one-month high with a gain of 1.08%. Meanwhile, the EUR/GBP declined by 0.63% to 0.8737, touching a monthly low.
This short-term upward movement was driven by a weakening dollar. The US November ADP data underperformed expectations, and market anticipation of a dovish stance from the new Federal Reserve Chair candidate rekindled expectations of rate cuts, weighing on the dollar. Additionally, market sentiment eased after the announcement of the UK’s new budget, providing room for the pound to rebound.
Ebury strategists commented, "The budget

There are three types of stock markets. Where should you start investing?
In Taiwan's stock market, you will hear the terms "Listed," "OTC," and "Emerging." These terms represent different levels of trading markets, corresponding to different risks and returns. But what exactly does OTC mean? What are the differences among these three markets? For novice investors, understanding these concepts is the first step toward successful investing.
Understanding the Three Major Stock Trading Platforms
Listed Stocks: The Most Mature Investment Choice
What does listing mean?
Listing refers to a company's official registration for trading on a formal securities exchange. In Taiwan, listed companies are traded on the "Taiwan Stock Exchange" (TWSE); in the United States, they are traded on the New York Stock Exchange (NYSE) and the NASDAQ Stock Market.
Listed companies are usually large-scale, well-established businesses, such as TSMC, Delta Electronics, and MediaTek. These public companies

Why is it worth exchanging for Japanese Yen now?
By the end of this year, the Taiwan dollar to Japanese Yen exchange rate has already broken through the 4.85 barrier. The Japanese travel boom is reigniting, and as one of the world's three major safe-haven currencies (the other two are the US dollar and Swiss franc), its value far exceeds mere travel use.
Many people are confused about whether to exchange foreign currencies like Japanese Yen and Hong Kong Dollar for US Dollars now— which is more worthwhile? The key lies in your purpose. Exchanging Hong Kong Dollar for US Dollars focuses on the potential appreciation of the US dollar, while Japanese Yen combines safe-haven properties with arbitrage opportunities.
During the Russia-Ukraine conflict in 2022, the Yen appreciated by 8% in one week, successfully offsetting a 10% decline in the stock market. For Taiwanese investors, in an era of increased volatility in the Taiwan stock market, the Yen is not just "pocket money" for travel but also a firewall for asset allocation.
Cost Comparison of Japanese Yen Exchange: Which Method Saves the Most Money
Many people think exchanging Yen simply means walking into a bank, but in reality, the cost differences across various channels can

December 10, 2025, the Taiwan dollar again surpasses 4.85 against the Japanese yen. Many people see this exchange rate and immediately think of currency exchange, but did you know? Exchanging 50,000 TWD through different channels can result in a difference of up to 2,000 TWD. Let's explore the cost logic behind Taiwan's four methods of exchanging Japanese yen.
Why is the yen worth paying attention to? It's not just a travel currency.
When it comes to exchanging foreign currency, most people's first reaction is the Japanese yen. But the value of the yen goes far beyond the concept of "pocket money for vacations."
From a practical perspective, travel to Japan (Tokyo, Osaka, Hokkaido) remains popular among Taiwanese, along with stable demand for purchasing agents and studying abroad. More importantly, the yen has both hedging properties and investment value — it is one of the world's three major safe-haven currencies (alongside the US dollar and Swiss franc). When global markets are turbulent, capital flows into the yen. During the Russia-Ukraine conflict in 2022, the yen appreciated by 8% in one week, while the stock market fell by 10% during the same period. This is the essence of safe-haven currency.

The Taiwan stock market recently broke through the 28,400-point record high. Behind the seemingly lively and prosperous market, there is a subtle shift in investor sentiment. As the market continues to hit new highs, the flow of funds quietly reveals the true thoughts of the market—over the past month, high-yield ETFs have almost completely overshadowed other investment tools on the most active Taiwan stock ETF rankings.
Market Rotation Signal: Why High-Yield ETFs Have Become the First Choice
Fubon Taiwan Select High Dividend (00919) has risen 2.33% in recent months, not only outperforming the broader market but also maintaining an annualized dividend yield of over 10% for 11 consecutive quarters, earning it the title of the most popular dividend stock among investors recently. This is not just a victory for a single fund but also a reflection of the overall market sentiment shift.
According to trading volume statistics, among the top ten passive Taiwan stock ETFs by average daily trading volume, high-yield products occupy five spots, including 00919, Cathay Sustainable High Dividend (00878)

From Sharp Decline to Rebound—What Happened in the Japanese Stock Market?
In the first half of 2025, the Japanese stock market experienced a "V-shaped" reversal. It first fell to around 31,136 points in April, hitting a new low in over a year, then rebounded strongly driven by valuation recovery, adjustments in global capital flows, and improvements in fundamentals. By the end of June, the Nikkei 225 index successfully broke through the 40,000 mark, reaching a high of 40,487 points, the highest in nearly 33 years.
The logic behind this rally warrants in-depth reflection. The market's shift primarily stemmed from a reassessment of Japanese corporate value. When Trump announced additional tariffs in April, global investors panicked, and the Nikkei's price-to-earnings ratio temporarily fell to 12, making it the most undervalued among major developed markets. As investors realized that their previous concerns about the economic outlook were overly pessimistic, the P/E ratio gradually recovered to around 13, and valuation reassessment became the core driving force behind this rebound.

The silver market in 2025 is stirring up waves, with international silver prices soaring to a historic high of $83.645 per ounce. This year's increase has already exceeded 140%, making it the most outstanding commodity performance. As expectations of Federal Reserve rate cuts, global supply shortages, and the inclusion of silver in the US critical minerals list emerge as positive factors, retail investors are turning their attention to this wave of "Silver Mania."
However, after CME raised futures margin requirements twice in a row and silver prices temporarily retreated to the $70-75 range at the end of the year, many investors began to consider: how to participate safely and effectively? Silver ETFs, due to their convenience and low entry barrier, are gradually becoming the new favorite among small investors in Taiwan.
Why choose ETFs over physical silver bars when silver is so hot?
Compared to the hassle of physical silver, the advantages of silver ETFs are self-evident. Purchasing physical silver bars involves bearing storage and insurance costs of 1-5% annually, and buying and selling also face a 5

Brexit is now a thing of the past, but its ripple effects continue to ferment in the global financial markets. This four-year political drama not only reshaped the UK's political landscape but also had a profound impact on investors' asset allocation. This article will start from actual market fluctuations to help you understand the economic logic behind Brexit and how this historic event has reshaped the global trading landscape.
1. Why Did Brexit Become a Reality? An Analysis of Three Deep-rooted Causes
Confidence Crisis Triggered by Economic Recession
Long-term structural imbalances within the European Union, with core countries leading production and peripheral countries gradually becoming consumers. After the 2008 subprime mortgage crisis, the European debt crisis followed, plunging the entire Eurozone into a quagmire. Although the UK did not join the Eurozone, as a core member of the EU, the UK had to extend a helping hand, which led domestic public opinion to begin questioning the EU's economic system—"Euro skepticism" thus brewed.
Political gamble of

In the global capital markets, pre-market trading in the US stock market is a unique window to observe market sentiment. Before each trading day begins, investors have already engaged in intense battles during this period, predicting the upcoming market trends. This trading window not only provides participants with an early opportunity to position themselves but also serves as the stage for the market's first response to important information.
How is pre-market trading in the US stock market defined? What is the core significance of setting it up?
Pre-market trading in the US stock market refers to the stock buying and selling activities conducted by investors through brokers before the official opening of major exchanges such as the New York Stock Exchange (NYSE) and NASDAQ. This period typically runs from 4:00 AM to 9:30 AM Eastern Time, opening a window of time for market participants.
Why set up such a trading window? The most direct reason is to respond to unexpected information. Corporate earnings reports, economic data, geopolitical events often

The Australian dollar is one of the top five major currencies by global trading volume, and the AUD/USD pair is among the most liquid currency pairs. But over the past decade, why has the Australian dollar become increasingly weaker? Are there still investment opportunities in the future?
AUD Depreciated Over 35% in Ten Years: Why Is It in a Long-Term Dilemma?
From the 1.05 level in early 2013 to now, the AUD/USD has depreciated by over 35%. During the same period, the US dollar index rose by 28.35%, reflecting a comprehensive strong dollar cycle.
Specifically, over the past ten years, the AUD has experienced several distinctly different phases:
2009-2011: Commodity Bull Market Supports the AUD
- China's strong economic recovery drove demand for commodities
- Australian interest rates were significantly higher than those in the US
- The AUD rose to nearly the 1.05 high point
2020-2022: Brief Rebound and Then Fall Back
- Australia's pandemic response was relatively stable during COVID-19
- Strong demand for iron ore in Asia
- The Australian dollar

The NT dollar to Japanese yen exchange rate has reached 4.85, appreciating by 8.7% this year, with travel abroad and yen asset allocation needs warming up. But do you know? Just choosing the wrong exchange method could cost you an extra 1,500 yuan. We use real data to help you find the most cost-effective way to exchange.
Should you exchange yen now? Simply put: yes, but in installments.
As of December 10, 2025, 1 NT dollar exchanges for 4.85 yen, nearly 9% higher than the 4.46 at the beginning of the year. Market observations show that Taiwan's foreign exchange demand increased by 25% in the second half of the year, driven mainly by the revival of tourism and increased risk hedging.
Why is the yen being sought after? Its status as one of the three major safe-haven currencies, coupled with the recent hawkish stance of the Bank of Japan, has helped. Governor Ueda Kazuo's comments pushed up the rate hike expectation to 80%, with a projected increase of 0.25 basis points to 0.75% at the December 19 meeting (a 30-year high). USD/JPY has fallen from 160 at the start of the year to 154.58, with medium- to long-term bearish outlook below 150.

Taiwan stocks, supported by the international stock market and a shift in capital flow, demonstrated a strong rally again today. Shortly after the opening, the index surged nearly 300 points, with the gains continuing to expand throughout the session. At one point, it broke through the 28,100-point barrier, surpassing previous highs. Over 24 listed stocks turned red to green simultaneously and hit the daily limit-up. Market trading was lively, and the bullish trend was clear.
Blue-chip stocks stabilize the fundamentals, and capital flow begins to differentiate
The market was mainly led by Taiwan Semiconductor Manufacturing Company (2330), which opened high and continued to rise, reaching a high of 1,470 NT dollars during the session, an increase of nearly 2.8%, significantly contributing to the overall market. Hon Hai Precision Industry Co. (2317) also followed suit, rising about 1.8% during the session, jointly supporting the market.
It is worth noting that MediaTek (2454), another heavyweight, showed a pattern of opening high and then declining, turning red to black during the session, with a decline of over 1% at one point, indicating a clear sign of capital rotation among electronic blue-chip stocks.
Memory Group