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Why should investors keep an eye on the timing of the US CPI release?
The US Consumer Price Index (CPI) is a barometer for global asset markets. Whenever the CPI release time approaches, the market often starts to stir in advance. This is no coincidence — CPI data directly influences Federal Reserve decisions, and the Fed’s actions in turn determine the movements of stocks, bonds, and exchange rates. Simply put, the timing of the US CPI announcement is a turning point for market sentiment.
Compared to the PCE index, which the Fed considers more important, CPI is released earlier, making it the market’s first response target. An unexpectedly high or low CPI report can trigger sharp asset price fluctuations within minutes.
2024 US CPI Release Schedule (Taiwan Time)
To accurately grasp market rhythm, the first step is to remember this schedule:
| Month | Date | Release Time |
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What are full delivery stocks?
Full delivery stocks are a unique system in the Taiwan stock market. When a listed company experiences poor management, deteriorating financial conditions, causing its net asset value per share to fall below the face value of 5 yuan, or is penalized by regulatory authorities due to major violations, its stock will be included in the full delivery stock list. Unlike ordinary shares, full delivery stocks require investors to pay the entire purchase amount at the time of trading and cannot be purchased using margin trading or securities lending.
Risks of full delivery stocks
Investing in full delivery stocks requires awareness of their high-risk characteristics:
Management and compliance risks. Companies listed as full delivery stocks often face operational difficulties, financial problems, or legal risks. These fundamental issues determine that these stocks are higher-risk investment targets.
High volatility. Stocks with net asset values near the 5 yuan threshold experience significant fluctuations because this affects whether they will be designated as full delivery stocks or not.

Cryptocurrency Assets Lead the Decline, US Stock Market Adjusts in Response
On Monday, the crypto market experienced a significant pullback, putting pressure on the US tech sector. Bitcoin temporarily dropped over 8%, falling from the previous $90,000 level to below $84,000, marking the worst single-day performance since March. According to the latest market data, Bitcoin is currently priced at $92.12K, with a 24-hour decline of -2.45%. Ethereum also faltered, dropping approximately 10% to a low of $2,719, and is now quoted at $3.23K, with a 24-hour increase of +0.12%. Solana faced a similar predicament, declining nearly 10%, currently at $137.78, with a 24-hour increase of +0.26%.
This wave of "Hawkish waterfall" style crypto asset decline was primarily triggered by a concentrated liquidation event of about $400 million. According to Fedwatch Advisors founder and C

Will the Renminbi continue to appreciate? Multiple banks' forecasts are out
By the end of 2025, the Renminbi faces a critical moment. According to the latest forecasts from several international investment banks, the USD/CNY exchange rate may be at a long-term turning point.
Goldman Sachs's perspective is particularly noteworthy. Its Global Foreign Exchange Strategist Kamakshya Trivedi pointed out in a report that the real effective exchange rate of the Renminbi is undervalued by 12% compared to the ten-year average, with an undervaluation of 15% against the US dollar. Based on this, Goldman Sachs predicts that the USD/CNY exchange rate will fall below 7.0 within the next 12 months. The logic behind this judgment is that China's strong export performance will continue to support the Renminbi, and the Chinese government is more inclined to use other policy tools to boost the economy rather than adopting a currency devaluation strategy.
Deutsche Bank believes that the recent strengthening of the Renminbi against the US dollar signals the start of a long-term appreciation cycle. The bank estimates that the Renminbi against the USD

Milan's Perspective | Market activity remains subdued during the Christmas holiday, and the Federal Reserve has already completed three rate cuts this year. The current focus shifts to the subsequent performance of the labor market and inflation data. Notably, the Fed is concerned about rising unemployment rates, and non-farm payrolls may be overestimated, with actual month-on-month employment potentially facing negative growth risks. Bank of America predicts that the Fed will implement two rate cuts in the first half of next year, and expects the 10-year U.S. Treasury yield to return to the 4%–4.25% range by year-end, with further downside not entirely ruled out. Short-term rate cut expectations help support risk asset trends.
EUR/USD: 1.1700 remains a key support level, opening room for a rebound
On Friday, EUR/USD slightly rose by 0.04% during the session, reaching a high of 1.1793, but still faced resistance at the 1.1800 level. Technically, 1.1700 is currently the most critical dividing line, as this level determines the future direction of the market. As long as

The fundamental difference between the Innovation Board and the Strategic New Board
Taiwan officially launched the Innovation Board and the Strategic New Board in July 2021, aiming to provide financing channels for innovative companies that meet specific criteria. Although both focus on innovation, their locations and requirements differ.
The Innovation Board is listed on the Taiwan Stock Exchange, and target companies must possess key core technologies and innovative capabilities (such as in IoT, artificial intelligence, big data, etc.), with a market capitalization of no less than NT$1 billion. In contrast, the Strategic New Board is located in the Emerging Market and mainly serves small and medium-sized innovative companies, with more relaxed market capitalization requirements.
It is noteworthy that once companies on the Strategic New Board complete their business development stage and meet certain conditions, they can apply to transfer to the Innovation Board for listing on the Taiwan Stock Exchange, forming a progressive growth mechanism.
Current Listing Status of the Innovation Board
As of now, there are 4 stocks listed on the Innovation Board:
| Company Name | Stock Code |
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Recently, the Japanese yen has experienced volatile fluctuations, with the USD/JPY once falling below 156. However, the market remains cautious about the Bank of Japan's interest rate hike decision. Although government intervention comments on the exchange rate have influenced the market, experts believe that a single rate hike is insufficient to change the interest rate differential landscape. The Federal Reserve's decision will be a key variable for the Bank of Japan's choices.

Understanding Contracts for Difference — Derivative Trading Without Owning the Underlying Asset
Contracts for Difference (CFD) are financial derivatives that essentially represent an agreement between two parties on the price difference of an asset. Unlike traditional investments, when participating in CFD trading, investors do not need to purchase the underlying asset. Instead, they settle profits and losses in cash based on market price fluctuations.
This type of trading covers various asset classes — foreign exchange pairs, commodities (oil, precious metals), stocks, indices, and even the rapidly rising cryptocurrency market in recent years. In simple terms, investors profit from the difference between the opening and closing prices. If the underlying asset appreciates, the seller pays the difference to the buyer; conversely, the buyer compensates the seller if the asset depreciates.
How CFD Trading Works
CFD trading is typically offered by brokers as counterparties. Brokers provide the contract tools

Recently, the Taiwanese dollar has faced increasing depreciation pressure. The Japanese yen, as one of the three major safe-haven currencies, has attracted more and more investors' attention. As of December 2025, the TWD/JPY exchange rate has risen to 4.85, up from 4.46 at the beginning of the year, an appreciation of 8.7%, making the exchange gains quite substantial. However, if you want to minimize currency exchange costs, you need to understand the differences behind four channels—because just choosing the exchange rate could cost you several thousand TWD more.
Japanese Yen, British Pound, US Dollar: Taiwan's Top Three Favorite Foreign Currencies
When it comes to exchanging foreign currencies, Taiwanese people usually think of the Japanese yen first. But in reality, the British Pound and US Dollar are also popular options. Many compare "how many TWD for 1 GBP" and "how many TWD for 1 USD" to decide their investment allocation, but the yen has a unique advantage—it meets travel needs and also has financial attributes.
Why is the Japanese yen worth exchanging?
Travel expenses and daily life
Japan's cash culture is deeply ingrained, and most merchants

Renminbi gains momentum, end-of-year currency settlement demand ignites
Against the backdrop of major markets being closed during the Christmas holiday, the offshore Renminbi (CNY) against the US dollar experienced a dramatic surge on December 25. The exchange rate appreciated to a high of 6.9960 during trading, breaking the 7.0 threshold again after September 2024. The onshore USD/CNY also fell to 7.0051, hitting a new low since May 2023. Traders generally reported strong end-of-year currency settlement demand and a lack of rebound momentum in the external dollar, with the market betting that the central bank is inclined to support the gradual appreciation of the Renminbi.
Goldman Sachs' latest research report pointed out that the People's Bank of China (PBOC) has recently alternated between describing the economy as "resilient" and "flexible." This suggests that the PBOC is open to a stronger Renminbi but also hopes to slow the appreciation pace to avoid impacting exports. Goldman Sachs maintains its exchange rate forecasts: in 3 months, 6 months, and 12 months, the USD/CNY will reach 6.95, 6.90, and 6.85 respectively.
Gold White

The performance of the New Taiwan Dollar recently has been truly astonishing—rising nearly 10% in just two trading days, marking the largest single-day increase in 40 years. What is behind this crazy appreciation trend? Is it a fleeting phenomenon or a long-term trend? For investors looking to follow the trend and make a quick profit, how should they grasp the historical pattern of USD to TWD exchange rates?
From historical data, the true face of the TWD exchange rate
When it comes to the 30-year trend of USD to TWD, data is more convincing than any analysis.
Over the past decade (October 2014 to October 2024), the TWD against the USD has fluctuated between 27 and 34, with a volatility of about 23%. In comparison, the USD to JPY has a volatility of as much as 50% (ranging from 99 to 161), making it a "roller coaster" among major global currencies. This means that the TWD is relatively a "stability army."
But this stable situation has recently been broken.
From the Federal Reserve's

Policy Pressure vs. Oversupply, WTI Crude Oil Faces Dilemma
A recent Reuters report revealed that the U.S. administration has decided to focus efforts on implementing an oil embargo against Venezuela for at least the next two months. This move signifies that Washington prefers to prioritize economic sanctions over military intervention. According to assessments by the International Energy Agency, if the U.S. continues its embargo policy, it will directly impact Venezuela's fiscal revenue—over 90% of the country's exports come from oil, which is its economic lifeline.
Currently, sanctioned Venezuelan oil tankers are still operating secretly under embargo. Bloomberg ship tracking data shows that a 27-year-old crude oil tanker will soon arrive in the country. This "zombie oil tanker," which was supposed to be dismantled in 2021, reflects Venezuela's desperate efforts to sustain its fragile oil industry. Additionally, Cuba relies heavily on Venezuelan fuel supplies; if its crude oil imports continue to decline, it will further worsen its already severe economic crisis.

By the end of 2025, the Taiwanese dollar against the Japanese yen surged to the 4.85 level. This is not only good news for travelers going abroad but also a new opportunity for asset allocation. From an increase of 4.46 at the beginning of the year to now, the Japanese yen has appreciated by over 8% annually. From an investment perspective, now is actually a good time to buy Japanese yen.
However, exchanging for Japanese yen involves some knowledge—using the wrong method for the same 50,000 TWD could cost you an extra 2,000 TWD. We have summarized the 5 most practical currency exchange channels right now to help you choose accurately.
Why exchange for Japanese yen now?
Many people think that the Japanese yen is just "pocket money" for travel, but it’s actually much more than that.
Living needs: Whether shopping in Tokyo, skiing in Hokkaido, or vacationing in Okinawa, most Japanese merchants still only accept cash (credit card penetration is only 60%). Buyers of Japanese cosmetics, anime merchandise, and peripherals also need to exchange yen regularly. Planning to stay long-term or study in Japan? Exchanging in advance can better lock in exchange rate risks.
From an investment perspective: Yen

The Taiwan dollar to Japanese yen has reached 4.85, and many people are starting to consider whether to exchange yen early. But the real question is: Is it worth exchanging now? How much cash can we actually bring abroad? We use the latest data to help you figure it out.
Is it really a good time to exchange yen now?
As of December 2025, the Taiwan dollar to Japanese yen is at 4.85, appreciating 8.7% from the beginning of the year at 4.46. This is already a considerable exchange gain.
But don't rush to exchange all at once. According to the latest market expectations, the Bank of Japan Governor Ueda Kazuo's hawkish comments have pushed up the rate hike expectation to 80%, with a projected increase of 0.25 basis points to 0.75% on December 19 (a 30-year high). USD/JPY has fallen from the high of 160 at the start of the year to 154.58, and may fluctuate around 155 in the short term, but medium to long-term forecasts suggest it will stay below 150.
Conclusion: Exchanging yen now is advantageous, but it’s better to do it in installments to avoid being caught in a full exchange at a less favorable rate. Especially considering the US

In December 2025, the Taiwanese dollar to Japanese yen exchange rate reached 4.85, and people who want to travel abroad or invest in yen started to get restless. But do you know? The cost difference for exchanging the same 50,000 TWD through different channels can be as high as over 1,700 NT dollars.
So, should you go to the bank counter, exchange online, or head straight to a foreign currency ATM? We tested the latest rates to help you spend less unnecessary money.
4 Exchange Methods Practical Comparison
Method 1: Foreign Currency ATM Withdrawal — Fastest but Most Limited
Use a chip-enabled bank card to withdraw Japanese yen cash from a foreign currency ATM. Available 24/7, with only a 5 NT dollar cross-bank fee deducted from your TWD account. E.SUN Bank’s foreign currency ATM has a daily limit of 150,000 NT dollars, zero exchange fee, and supports multiple currencies such as euros.
However, this method has an invisible cost: ATM denominations are fixed (1,000/5,000/10,000 yen), which can lead to shortages during peak times. For 50,000 NT dollars

The NT dollar to Japanese Yen has reached a level of 4.85, forming a stark contrast with the long-term slump of the NT dollar against the Hong Kong dollar. Currently, many people face a dilemma: should they convert their money into Yen for hedging investments, or allocate assets in HKD? Using the latest real-time prices and data, we will deeply analyze Taiwan's current Yen exchange ecosystem and its advantages over HKD allocation.
Why has the Yen become the first choice of foreign currency for Taiwanese people?
When it comes to foreign currency allocation, Taiwanese investors tend to prioritize Yen over HKD or other Asian currencies, based on deep underlying logic.
Travel and consumption reality: Shopping seasons in Tokyo and Osaka, Japanese offline merchants still dominate cash flow (credit card penetration is only 60%), and purchasing Japanese pharmaceuticals, cosmetics, and anime peripherals are mostly settled in Yen. In contrast, although HKD is more internationalized, Taiwanese people travel to Hong Kong far less frequently than to Japan, resulting in lower actual currency exchange demand.
Financial hedging value: The Yen is ranked among the world's three major safe-haven currencies (

From the end of 2024 to early 2025, the international gold price trend has been like a roller coaster—approaching a historic high of $4,400 per ounce on October 20, followed by a correction, but market enthusiasm for chasing gains has not diminished at all. Many investors keep asking themselves the same question: Is it still worth entering now? Will this rally continue?
To answer these questions, we first need to understand why gold prices are rising so aggressively.
Why has the most vigorous rally in nearly 30 years caused gold prices to soar?
According to Reuters data, the increase in gold prices in 2024-2025 has already approached the highest in 30 years—surpassing 31% in 2007 and 29% in 2010. This is not minor fluctuation but a systemic price revaluation.
The factors driving this rally are not just one or two but a resonance of multiple forces:
First, policy uncertainty has sharply increased. After the new government took office, a series of tariff policies were introduced one after another, and the market's reaction to