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Inflation refers to the depreciation of currency, leading to a decrease in purchasing power. Its causes include increased demand, rising costs, excessive money supply, and expectation effects. Central banks typically raise interest rates to curb inflation but this can lead to economic slowdown. Moderate inflation helps stimulate the economy, while deflation poses serious risks. Investors should diversify their asset allocation, such as stocks, gold, and the US dollar, to counteract inflation effects and seek appreciation opportunities.

A Failed Rate Hike Declaration
Last Friday, Bank of Japan Governor Kazuo Ueda announced an increase in the policy interest rate to 0.75%—the highest in Japan in thirty years. According to economic textbooks, raising interest rates should boost the value of the yen. However, the market mocked this decision with actual actions: the yen against the US dollar not only failed to appreciate but instead fell from 155 to 157.43, illustrating the classic "fact meets cold response" scenario.
The real thoughts on Wall Street are straightforward—the market does not believe the Bank of Japan will continue to raise rates aggressively.
Why does raising interest rates instead stimulate market greed?
Unwound $500 billion bet
Morgan Stanley's data reveals the market’s secret: approximately $500 billion in yen arbitrage trades remain open within the global financial system. The logic behind this capital movement is simple—use cheap yen financing to invest in US tech stocks, Indian stock markets, and cryptocurrencies.

In December, the Japanese Yen exchange rate warmed up, with the TWD/JPY exchange rate surpassing 4.85. Many people are starting to plan to exchange for Yen. But do you know? Choosing the wrong currency exchange channel can cost you over NT$2,000 in exchange rate differences. Today, we will break down the latest four methods of exchanging Japanese Yen to help you quickly find the most cost-effective option.
Is it really time to exchange for Yen now?
From 4.46 at the beginning of this year to 4.85 now, the Yen has appreciated by 8.7%. For Taiwanese investors, this exchange gain is indeed significant, especially during a period when the TWD faces depreciation pressure.
From the market perspective, the demand for Yen exchange surged by 25% in the second half of the year, driven by three main factors: the recovery of the travel market, corporate import and export needs, and investors' hedging strategies. As one of the three major safe-haven currencies globally, the Yen has a unique hedging value—when geopolitical risks increase or market volatility intensifies, funds flow into Yen seeking refuge. This was evident in 2022 during the Russia-Ukraine

In 2025, a white silver investment frenzy is surging. London spot silver broke through the psychological level of $70 per ounce on December 23, driven by multiple positive factors such as the Federal Reserve's interest rate cut expectations, global supply tightness, and recognition of the US critical mineral list, reaching a historic high of $83.645 per ounce. The annual increase has exceeded 140%, making it one of the best-performing assets, outpacing gold by over 80% and the Nasdaq Composite Index by about 120%.
Although CME raised silver futures margin requirements twice to curb excessive speculation (initial margin increased from approximately $22,000 to $25,000 after December 29, a total increase of 25% within the month), causing silver prices to retreat to the $70-75 range, market enthusiasm for silver prospects in 2026 remains strong. During this wave of investment, silver ETFs have become the preferred investment tool for retail investors due to their convenience and liquidity.
Silver E

As the Christmas holiday approaches, market liquidity decreases. The Federal Reserve has cut interest rates three times and is expected to continue cutting rates next year. The EUR/USD needs to hold above 1.1700, AUD/USD is facing short-term consolidation, and NZD/USD's key support is at 0.5770. WTI crude oil has rebound potential, but downward risks should be watched carefully. Traders should exercise caution in responding to market volatility.

You want to participate in the once-in-a-decade silver market trend, but don't know where to start? Physical silver bars, ETFs, and CFDs are all in front of you— which one will make your pockets bulge?
1. Why Silver Will Be the Most Explosive Asset in 2026
Before choosing a tool, you must first understand a key question: Why is silver so important now?
The Genuine Gap in Industrial Demand
The recent surge in silver prices is primarily driven by the global green energy revolution. The photovoltaic industry has an astonishing appetite for physical silver—by 2025, new photovoltaic installations are expected to consume 6,000 tons of silver. Coupled with the continuous expansion of emerging industries such as electric vehicles, semiconductors, and 5G communication equipment, silver has dramatically shifted from being a "hedging tool" to becoming a darling of rigid industrial demand.
However, supply cannot keep up. The global annual silver production is about 25,000 tons, of which over 70% is by-product mining, which simply cannot quickly

Understanding the Difference Between Major Non-Farm Payrolls and Small Non-Farm Payrolls
In the monthly rhythm of financial markets, two major employment reports influence the nerves of global investors—Major Non-Farm Payrolls and Small Non-Farm Payrolls.
What is Major Non-Farm Payrolls (NFP)?
Major Non-Farm Payrolls (NFP) is the U.S. non-farm employment data released monthly by the U.S. Bureau of Labor Statistics. This official report covers three key indicators: non-farm employment numbers, employment rate, and unemployment rate. It includes both private sector employment and government employment data, providing a comprehensive reflection of the overall U.S. non-farm labor force.
What is Small Non-Farm Payrolls (ADP)?
Small Non-Farm Payrolls is a private-sector non-farm employment report released by ADP Research Institute. It is based on employment records from approximately 500,000 anonymous U.S. companies, covering about 35 million private sector employees, accurately reflecting the employment climate of the private economy. Although it is unofficial data, the authority of ADP makes it a

Currency symbols are of great significance in forex trading. Correctly identifying different currency codes such as HK$ and US$ can help traders execute strategies accurately. The article provides a detailed introduction to major global currency symbols, input techniques, common confusion scenarios, and offers practical tips to improve trading efficiency. Mastering these fundamentals is crucial for avoiding operational errors.

The Bank of Japan raised its benchmark interest rate, market risk sentiment recovered, and silver hit a new high. U.S. stocks generally rose, with technology stocks performing strongly. The U.S. Consumer Confidence Index fell below expectations, and Federal Reserve officials have divided opinions on future rate cuts. Commodity prices increased, and the U.S. dollar index rose. There are also significant developments in the technology and space sectors.

Market Overview
Tuesday night market fluctuations were evident. The precious metals sector faced significant selling pressure, with gold dropping sharply by 4.42%, reporting $4332.2 per ounce, having fallen over $200 to $4302 at one point; silver plunged over 9%, palladium declined 17%, and platinum also fell 15%. In the commodities market, WTI crude oil rose against the trend by 1.58%, reaching $57.8 per barrel.
The three major US stock indices generally declined, with the Dow Jones Industrial Average down 0.51%, the S&P 500 down 0.35%, and the Nasdaq down 0.5%. Tech stocks performed poorly, with Nvidia down 1.2%, Palantir down 2.4%, and Tesla falling even more sharply by 3.3%. Financial stocks were no exception, with Goldman Sachs down 1.6%, American Express and JPMorgan Chase each falling over 1%. Silver mining-related stocks Coeur and Hecla declined significantly, falling 4.4% and 4.9%, respectively.

In the global foreign exchange market, investors habitually favor G7 major currencies. However, many professional traders are turning their attention to emerging market currencies with high volatility and clear trends. The South African Rand (ZAR) is precisely such a high-trading-value asset, which has historically offered considerable profit opportunities.
Basic Characteristics of the South African Rand
The Rand (South African Rand) is South Africa's official currency, issued by the South African Reserve Bank (the central bank). Since its introduction in 1961, South Africa has undergone multiple exchange rate regime reforms—implementing a managed float in 1974, abolishing the dual exchange rate system in 1995, and transitioning to a single exchange rate system.
The Rand has a unique identity: it is a typical risk asset/risk currency. This means that global capital flows directly impact its value. When international funds flow into developed economies like the United States, the Rand often faces "bloodletting" pressure.

Have you ever encountered such an odd phenomenon? A certain stock doubles in value within just a month, yet suddenly it becomes difficult to place orders, margin trading is frozen, and even trading requires queuing? This is a typical sign of being classified as a *disposed stock*. So, what exactly is the restriction on disposed stocks? Are they truly doomed to decline, or is there a chance for a comeback?
From an investment perspective: Are disposed stocks worth buying?
Many investors shy away from disposed stocks, but this may be a misinterpretation of the market. Disposed stocks are not a reflection of a company's quality; they are merely a temporary abnormal trading state. To determine whether there is investment value, one must return to analyzing the company's fundamentals and the chip (ownership) situation.
Fundamental analysis focuses on the company's core competitiveness, financial health (revenue growth, gross profit margin, net profit trend). Chip analysis observes the flow of major funds; since margin trading and securities lending are frozen during the disposed stock period, capital movements tend to be cleaner, making it easier to identify institutional trends.