December marks a significant shift in the global financial markets: silver and copper prices both hit record highs, while stocks and crypto assets face correction pressures. What market signals are hidden behind this trend?
Precious metals lead the rally, with silver and copper prices reaching new heights
Against the backdrop of tight global supply chains, precious metal prices continue to strengthen. Silver prices soared to $57.87/oz, hitting a historic high, while gold prices also performed strongly, breaking through $4256/oz to reach a one-month high. Even more noteworthy, copper prices surged past $11292/ton, setting a new record.
The strong performance of silver reflects deep market concerns over global supply shortages. China's silver reserves have fallen to a seven-year low, becoming a key driver of price increases. The copper price surge is driven by disruptions in multiple mine supplies, coupled with traders expected to transfer large quantities of metals to the US due to tariff expectations.

The Taiwanese dollar breaks through the psychological barrier of 30 yuan, while the US dollar faces depreciation pressure
Recently, the New Taiwan dollar has experienced an unprecedented rapid appreciation in decades. According to market data, on May 2nd, it rose by 5% in a single day, marking the largest single-day increase in 40 years, with the exchange rate closing at 31.064 yuan. Subsequently, on May 5th, it continued its upward trend, rising by another 4.92%, and during intraday trading, it broke through the critical 30 yuan level, reaching a high of 29.59 yuan. This wave of appreciation is quite rare among Asian currencies.
In just two trading days, the New Taiwan dollar has appreciated nearly 10%, not only rewriting multiple historical records but also triggering the third-highest trading volume in the history of the foreign exchange market. Compared to other Asian currencies—Singapore dollar up 1.41%, Japanese yen up 1.5%, Korean won up 3.8%—the appreciation of the New Taiwan dollar is clearly outstanding.
It is worth noting that from the beginning of this year until early April, the New Taiwan dollar was still in a depreciating state. In just a few weeks, such a dramatic appreciation occurred.

In early December 2025, the exchange rate of the New Taiwan Dollar (NTD) to the Japanese Yen (JPY) is 4.85, appreciating 8.7% from 4.46 at the beginning of the year—this increase hides many nuances in currency exchange. Should you exchange for Yen now? How can you do it without losing money to exchange rate differences?
Why pay attention to the Yen now?
The Bank of Japan (BOJ) is about to raise interest rates, with Governor Ueda Kazuo's hawkish remarks pushing market expectations to 80%, anticipating a rate hike to 0.75% on December 19 (a 30-year high). Simultaneously, the US has entered a rate-cutting cycle. As one of the world's three major safe-haven currencies, the Yen's attractiveness is increasing.
For Taiwanese investors, there are two reasons to exchange for Yen:
Hedging allocation: The Yen has long been considered a safe-haven currency alongside the US Dollar and Swiss Franc, attracting capital during market turbulence. For example, during the Russia-Ukraine conflict in 2022, the Yen appreciated 8% in a week, buffering a 10% decline in the stock market, demonstrating its effectiveness in hedging Taiwan's stock market volatility.
Investment returns: The Yen fixed deposit annual interest rate

When the stock market hits new highs but falls into volatility, the market's true attitude is revealed through capital flows. Recently, the Taiwan stock market broke through 28,400 points, but the most active trading was not in tech giants, but in a type of "cash flow generator" long forgotten by the market—high-yield ETFs. What does this reflect? Investors are redefining the meaning of "quality assets."
The Hidden Concerns Revealed by the U.S. Stock Quality Battle: Accounts Receivable vs Actual Cash
To understand the current market logic, we must first look at what is happening in the U.S. stock market. Two U.S. ETFs with a scale exceeding one hundred billion dollars—Invesco S&P 500

For investors, mastering chart reading skills is a must. Candlestick charts (also known as K-line charts) are a core tool in technical analysis, helping traders quickly understand market sentiment and price trends. This article will systematically explain the components of K-lines, the core principles of K-line analysis, and how to use K-line patterns to predict market reversals, helping you advance toward becoming a professional trader.
The Composition of Candlestick Charts: Understand K-lines in 5 Minutes
A K-line (also called a candlestick) is a chart that condenses four key prices within a specific time period. These four prices are the opening price, the highest price, the lowest price, and the closing price.
The body of the K-line is the most prominent rectangular part of the chart, and its color and shape reflect the balance of bullish and bearish forces during that period. Based on the relationship between the closing price and the opening price, K-lines are divided into two categories:
- When the closing price is higher than the opening price, it forms a bullish (positive) line (usually represented in red in Taiwan stocks)
- When the closing price is lower than the opening price

Why should you understand individual stock futures?
Stock futures are standardized contracts based on stocks, with fixed quantities, underlying assets, and timeframes. Many investors find this tool both unfamiliar and intriguing, mainly because it offers a trading method that is completely different from spot stocks. Futures prices are highly correlated with the movement of stock spot prices. When the market is optimistic about the future, futures prices are usually higher than spot prices; conversely, they are lower. Investors can use this as a basis for judgment.
Three-tier structure of margin requirements for individual stock futures
To truly master futures trading, it is essential to understand the margin system, which is the fundamental mechanism of futures trading.
Margin requirements for individual stock futures are divided into three types. The initial margin is the amount investors must pay to enter the market, representing the initial collateral for fulfilling the contract. When prices fluctuate unfavorably, the margin gradually decreases. Once the margin falls below the maintenance margin level, the broker will issue a margin call, requiring investors to top up to the initial margin.

The attitude shift of mainstream asset management institutions, such as Pioneer Group and Bank of America, beginning to promote crypto asset allocation, is reshaping the market landscape. As institutional participation increases, price volatility intensifies, and large-scale liquidations occur. Although the market has experienced a downturn, the entry of institutions may change the capital structure and promote long-term growth. The macro environment outlook supports stability, and Bitcoin's key resistance level is at $92,000.

In mid-December, the Taiwanese dollar against the Japanese yen reached the 4.85 level, appreciating 8.7% since the beginning of the year. Travel to Japan and yen asset allocation are heating up again. But do you know? Using the same 50,000 TWD, choosing the right channel can save you over 1,000 yuan, while choosing the wrong one might cost you an extra 2,000 yuan.
Why has the Japanese yen suddenly become "hot"?
The yen has long been regarded as one of the three major safe-haven currencies (along with the US dollar and Swiss franc), serving both travel consumption and asset protection functions. Especially now, as the TWD faces increased depreciation pressure and global stock markets become more volatile, the yen can be used for travel expenses and as an investment hedge—many Taiwanese investors are taking advantage of the relatively weak TWD to gradually build yen positions.
From a financial perspective, the Bank of Japan recently signaled a potential interest rate hike (expected to rise to 0.75% in December). The yen is transitioning from an ultra-low interest rate era to a stage of relatively increased attractiveness, further stimulating currency exchange demand.
4 Major Exchange

This year's exchange rate between the New Taiwan Dollar and the Australian Dollar has been highly volatile. As the demand for studying abroad, working holidays, and overseas property purchases in Australia increases, more and more Taiwanese are paying attention to how to exchange currency to get the best value. Are you also worried about which exchange channel to choose? We have compiled a complete comparison of the latest 4 currency exchange methods, whether for short-term travel, long-term study, or asset allocation, you can find the most suitable plan.
Why exchange for Australian Dollars?
When it comes to currency exchange, many people's first reaction is USD or JPY, but the AUD is quietly becoming a new favorite among Taiwanese. Besides travel and shopping, the AUD represents a new option for diversified global asset allocation.
Daily consumption: studying, working, vacationing
Studying and working holidays: The number of Taiwanese applying for Australian student visas and working holiday visas is increasing year by year, requiring early exchange of AUD to pay for tuition and living expenses.
Overseas consumption and purchasing agents: People who enjoy Australian health supplements, cosmetics, and wine often use

In recent years, gold prices have experienced significant fluctuations, and global central banks have consecutively increased their gold reserves for three years, reaching a half-century high according to WGC data. For individual investors in Taiwan, spot gold (XAU/USD) serves not only as a hedging tool but also as a short- to medium-term trading strategy option. This article will delve into the operational mechanisms of spot gold, trading costs, risk management points, and help investors participate rationally in this largest global trading market.
Understanding Spot Gold: Virtual Trading vs. Physical Gold
Spot gold (also known as "international gold" or "London gold") is entirely different from physical gold investments. Spot gold is a book-based transaction based on the international gold price (XAU/USD), where investors do not need to hold physical gold but profit from price fluctuations by tracking gold price movements.
Compared to physical gold (gold bars, coins), which has stronger hedging and value preservation features, physical gold involves higher costs and lower liquidity. Spot

London spot silver is experiencing an unprecedented rally. In early December 2025, the silver price broke through the $60 per ounce mark, then surged to a record high of $64.6/oz, creating the most impressive performance of the year. This rally is driven by expectations of Federal Reserve rate cuts, tight global silver supply, and the United States officially including silver in the critical minerals list, among other positive factors.
Based on the full-year performance, silver has increased by over 100%, far surpassing gold by more than 60% and crushing the Nasdaq Composite Index by about 20%. International investment bank UBS is optimistic about the future, raising its target price for silver in 2026 to $58–$60 per ounce, and even considering the possibility of challenging $65/oz. In the face of such a market, how should retail investors in Taiwan participate?
The three main channels for silver investment: understanding the advantages and disadvantages of each

Under the pressure of the NT dollar depreciation, the Japanese yen investment has become the new favorite.
By December 2025, the NT dollar to Japanese yen exchange rate has surged to 4.85, an 8.7% appreciation since the beginning of the year, with currency exchange demand increasing by 25%. However, many people do not realize that the cost difference between exchanging at a bank counter and online can be as high as 1,500 NT dollars for the same amount of money. To get the most cost-effective exchange, the key is not "when to exchange," but "how to exchange."
This article summarizes the four most commonly used Japanese yen exchange channels in Taiwan, using actual rates to show you that whether for travel or investment, you can find the most cost-saving option.
Why is it worth exchanging yen now? The three-layer logic of the financial market
Many people think that exchanging yen is just for traveling abroad. In fact, the Japanese yen plays a more important role in the global financial market.
First layer: The status as a safe-haven asset
The Japanese yen, along with the US dollar and Swiss franc, is one of the world's three major safe-haven currencies. When the market is turbulent, capital flows into safe-haven assets—2022

On November 19, the global financial markets experienced changes due to multiple factors, with the US Dollar Index breaking through 100 and the Japanese Yen depreciating significantly. The contradiction between Japan's government stimulus plans and central bank policies increased the risk for the Yen. UK inflation data easing fueled expectations of rate cuts, leading to a decline in the British Pound. Nvidia's strong earnings report boosted market sentiment and supported the appreciation of the US Dollar. Overall, risk assets were under pressure, and major currency pairs against the US Dollar declined across the board.

The RMB emerges from a three-year depreciation slump as the exchange rate trend takes a crucial turn
Looking back at the RMB market in 2025, it was a story of dramatic twists and turns. In the first half of the year, the RMB was steadily retreating under the strong suppression of the US dollar, but by the end of the year, the situation suddenly reversed. The USD against the RMB gradually retreated from its high point at the beginning of the year, reaching 7.0404 by mid-December, the highest in nearly 14 months. Onshore and offshore markets fluctuated between 7.04 to 7.3 and 7.02 to 7.4 respectively, with the total appreciation for the year reaching 3%, marking the official end of a three-year depreciation cycle that began in 2022.
The story behind this shift was not an overnight development. In the first half, the RMB faced multiple pressures—rising uncertainties in international trade policies, a high US dollar index, and offshore exchange rates once falling below 7.40. However, entering the second half, the easing of US-China relations and the dual positive factors of a weakening US dollar index gradually turned the tide for the RMB.

Recently, the exchange rate of the New Taiwan Dollar (NTD) to the Japanese Yen (JPY) has reached 4.85. As the peak travel season approaches at the end of 2025 and the investment interest in the Yen rebounds, most people are starting to evaluate when is the most cost-effective time to exchange currency. However, many are unaware that simply choosing the wrong currency exchange channel can increase costs by thousands of NT dollars. This article will break down the four most commonly used currency exchange methods in Taiwan and, through actual rate calculations, help you find the most suitable option for yourself.
Why is the Yen worth paying attention to? The dual value from travel to hedging
Travel and Consumption Aspects
Japan remains the top choice for Taiwanese travelers, but local spending largely relies on cash payments—only about 60% of credit card usage in Tokyo, Osaka shopping districts, and Hokkaido ski resorts, meaning large transactions require prepared Yen cash. Additionally, Japan purchasing agents and overseas online shopping platforms also require direct Yen payments. Students studying abroad and those on working holidays need to plan their currency exchange timing in advance to avoid sudden fluctuations increasing their burden.
Hedging Value in the Financial Market

Short selling stocks seems simple, but it faces short squeeze risks. When short positions are too large and the stock price rises, short sellers need to cover at high prices, further pushing up the stock price. Short squeezes can be divided into passive and active. Methods to avoid becoming a victim include: choosing assets with high liquidity, shorting during rebounds, controlling leverage ratios, and diversifying investments. Understanding the patterns of short squeezes helps reduce the risk of losses.

The New Taiwan Dollar (NTD) against the Japanese Yen (JPY) has reached 4.85, and travel to Japan and Yen investments are booming again. But how can you exchange Yen without getting ripped off? We’ve tested and compared the latest 4 currency exchange methods to help you understand everything at once.
Why exchange for Yen?
Many Taiwanese only know they need Yen to travel to Japan, but in fact, the use of Yen extends far beyond that.
Travel and daily expenses: Japan has a deeply rooted cash culture; many small shops and rural areas do not accept cards (credit card penetration is only 60%). Buying cosmetics, shopping at department stores, or purchasing Japanese products online usually requires cash in Yen or transfers in Yen.
From a financial asset perspective: Yen, along with USD and Swiss Franc, is one of the world’s three major safe-haven currencies. When the stock market crashes or geopolitical conflicts escalate, smart investors will convert part of their funds into Yen to hedge risks. During the Russia-Ukraine war in 2022, the Yen appreciated by 8% in a week, successfully mitigating the damage from stock market declines. For Taiwanese investors, holding Yen not only for leisure but also for

The British Pound, as the world's fourth-largest trading currency, experiences exchange rate fluctuations influenced by political and economic factors. The 2025 forecast suggests that due to the interest rate differential caused by the US rate cuts and high UK interest rates, the British Pound may have a chance to rebound. Investors need to flexibly adjust their strategies and focus on risk management, especially during changes in UK politics and economics.

Why Do Traders Need to Master Currency Symbols?
When engaging in forex trading and international investments, you will frequently encounter a variety of currency symbols. From the Euro symbol € to the Chinese Yuan symbol ¥, these seemingly simple images are key to quickly identifying and tracking global financial markets. Mastering currency symbols not only helps you quickly recognize the nationality and trading targets of your counterparts but also saves valuable time when reading market reports and analysis.
Compared to writing "40 USD," writing "$40" is obviously more concise and efficient. Currency symbols are a quick way to identify, eliminating complicated text explanations, allowing traders to instantly grasp market trends.
How to Quickly Input Common Currency Symbols? Shortcut Tips Revealed
Want to quickly type the Euro symbol and other common currency symbols on your computer? Here are input tips for Mac and Windows systems:
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