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When you are tracking your investment portfolio, do you often see financial media mention "the dollar's rally is strong" or "the dollar is under pressure and declining"? These statements reflect one of the most important reference indicators in the global financial market—the US Dollar Index (USDX/DXY).
Over the past decade, the US Dollar Index has experienced multiple intense fluctuations, each influencing global asset allocations from stocks and gold to forex markets. Understanding the logic behind this indicator is equivalent to mastering the secret code of global capital flows.
What exactly does the US Dollar Index measure?
The US Dollar Index is not the price of a specific stock or commodity, but a relative strength indicator. It tracks the exchange rate changes of the dollar against six major international currencies to reflect the dollar's position in the global financial market.
These six currencies are:
- Euro (EUR): 57.6% weight, the decisive factor
- Japanese Yen (JPY): 13.

As global geopolitical risks intensify and inflationary pressures persist, more and more investors are considering including gold in their asset allocation. However, there are many ways to buy and sell gold, beyond traditional physical gold, including savings accounts, funds, futures, and contracts for difference (CFDs). Each method has its advantages and disadvantages; the key is to understand your investment goals and risk tolerance to choose the most suitable gold investment channel.
Is now still a good time to invest in gold?
Before evaluating gold investments, let's look at recent market performance. Between 2022 and 2023, gold prices fluctuated significantly between $1,700 and $2,000, mainly influenced by geopolitical conflicts and Federal Reserve rate hikes. Entering 2024, gold prices have started to reverse upward, driven by multiple factors, including rising expectations of US rate cuts, global central banks' record gold purchases (reaching 1,045 tons for three consecutive years), and expanding geopolitical risks. By 2025

Want to invest in stocks but get confused by "Listed," "OTC," and "Emerging Market"? Don't worry, this article will guide you to understand the fundamental differences among these three stock classifications and how to choose suitable investment targets based on your risk tolerance.
Three Tiers of the Stock Market: From the Most Stable to the Most Volatile
What is a listed stock?
Listing refers to a company's registration on an officially recognized stock exchange. In Taiwan, this platform is the "Taiwan Stock Exchange (TWSE)"; in the United States, the main ones are the New York Stock Exchange (NYSE) and the NASDAQ Stock Market (NASDAQ).
Listing is the highest stage of corporate financing. To reach this stage, a company must pass multiple levels of review — from operational years, profitability, to the number of shareholders, each with clear thresholds. Due to the high entry barriers, listed companies are usually industry leaders: giants like TSMC, Delta Electronics, and MediaTek are all listed companies.

The dream of getting rich overnight is often the beginning of bankruptcy. When it comes to investment scams, the term "Ponzi scheme" is unavoidable—an infuriatingly well-known name. It is not a new phenomenon but a classic fraud pattern with a century of history, which continues to harvest unwitting investors in various mutated forms to this day.
Ponzi Scheme: From Italian Con Artist to Wall Street Legend
The name "Ponzi scheme" comes from an Italian adventurer named Charles Ponzi. In 1903, Ponzi sneaked into the United States, working as a painter, laborer, and various other jobs, and served time in Canada and the US for different crimes. After numerous failures, he finally discovered the "secret to wealth" in the financial sector.
In 1919, just after the end of World War I, the global economy was in chaos. Ponzi seized this opportunity, claiming he could profit by buying European postal notes and reselling them in the US, and devised a high-return investment scheme.

Silver prices break new records, investment enthusiasm heats up again
The international silver market in 2025 is witnessing a historic moment. Driven by multiple factors including expectations of Federal Reserve rate cuts, ongoing tight global supply chains, and the United States officially including silver in the critical minerals list, the London spot silver price broke the psychological barrier of $70 per ounce on December 23, and later reached a historic high of $83.645 per ounce.
By the end of the year, silver's annual increase exceeded 140%, making it the best-performing asset of 2025. In comparison, gold's increase was less than 60%, and the Nasdaq Composite Index rose only about 20%, highlighting silver's strong performance.
However, this rally has also attracted market attention. To manage risk, CME Group increased the margin requirements for silver futures twice within a month. The most recent adjustment occurred on December 26, and after taking effect on December 29, the March 2026 silver contract

The Australian dollar, as the fifth largest trading currency in the world (after the US dollar, euro, Japanese yen, and British pound), has a highly liquid and active trading pair with the US dollar (AUDUSD) in the foreign exchange market. It is a key target for many investors engaging in short-term trading or medium- to long-term positioning. However, looking back over the past decade, the performance of the Australian dollar has been truly disappointing.
From an initial level of 1.05 in early 2013 to the end of 2023, the AUDUSD has fallen by over 35%, while during the same period, the US dollar index (DXY) increased by 28.35%. This is not just a weakening of the Australian dollar alone, but part of a global "strong dollar cycle." Major currencies like the euro, yen, and Canadian dollar also depreciated against the dollar, indicating that the strength of the US dollar itself is the fundamental driving force.
Why has the Australian dollar remained under long-term pressure? Three major structural reasons:
The Australian dollar was once considered a high-yield currency, a common target for hot money and carry trade strategies. However, over the past decade, its weakness...

Why CPI Release Timing Is Crucial
The United States Consumer Price Index (CPI) is one of the most closely watched economic indicators in the global financial markets. Its release timing and numerical changes directly influence short-term movements in stocks, currencies, and commodity futures. Since CPI data is released before the PCE data, which the Federal Reserve uses for decision-making, markets tend to react most sensitively to CPI ahead of time.
2024 Full Release Schedule
The US CPI release schedule follows a fixed pattern—typically on the first business day of each month or the closest business day, with specific times varying due to daylight saving time adjustments. Below are the CPI release times for 2024 (Taiwan time):
| Month | Date | Release Time |
|-------|-------|--------------|
| January | 11th | 21:30 (9:30 PM) |
| February | 13th | 21:30 (9:30 PM) |

Taiwan has restrictions on purchasing cryptocurrencies with credit cards, mainly due to regulatory policies aimed at anti-money laundering and market volatility considerations. Although credit card transactions are not easy, investors can still choose other deposit methods such as wire transfers or C2C transactions. The article provides a detailed comparison of the advantages and disadvantages of these methods and offers practical and feasible ways to buy coins to help investors develop the best investment strategies.

▶ Why is even Buffett obsessed with studying financial statements?
What is the essence of investing? Simply put, it’s using current money to gamble on future returns. But the future is full of uncertainties. How can you increase your chances of winning? Understanding a company's financial report is one of the answers.
Buffett once said: "Financial reports are the language through which a company communicates with the outside world, a perfect and flawless language. Only by willing to spend time learning and analyzing it can you independently choose investment targets. The amount of money you make in the stock market is proportional to your understanding of the investment target."
This is not a false statement. Through financial reports, you can see the company's true cash-generating ability, debt pressure, and cash reserves. Do financial reports lie? Yes. But learning to read financial reports at least allows you to avoid obvious traps and filter out companies worth paying attention to.
▶ What exactly are financial reports? Why must listed companies disclose them?
Financial Reporti

Why Have Gold Futures Become the New Favorite This Year?
Observing the market trends over the past year, gold price fluctuations have significantly increased. The volatility of the US dollar exchange rate, the Federal Reserve's shift in interest rate policy, and geopolitical uncertainties have all contributed to making gold the most watched safe-haven asset. By 2025, gold prices have already risen by over 60%, marking the largest annual increase since 1979.
Because of this characteristic of "fast price movements and large fluctuations," more and more investors are paying attention to gold futures and gold CFDs. The common advantage of these derivatives is that they allow participation in international gold price movements with less capital, enabling investors to see changes in returns in the short term.
However, before entering the market, you need to thoroughly understand the mechanisms of futures trading, cost structures, and risk boundaries.
Gold Futures Trading Mechanism Explanation
Futures are essentially standardized contracts. Both parties agree to...

What exactly does the US Dollar Index measure?
When mentioning the "US Dollar Index" (USDX or DXY), many people tend to confuse it with general exchange rates. However, in reality, the US Dollar Index is a composite indicator that tracks the strength of the dollar relative to other currencies, rather than a simple exchange rate figure.
Similar to how the "S&P 500" or "Dow Jones Industrial Average" track stock market performance, the US Dollar Index monitors the overall performance of the dollar against six major currencies. The components that make up the US Dollar Index include:
- Euro (EUR): 57.6% (most significant)
- Japanese Yen (JPY): 13.6%
- British Pound (GBP): 11.9%
- Canadian Dollar (CAD): 9.1%
- Swedish Krona (SEK): 4.2%
- Swiss Franc (CHF): 3.6%
Essentially, this index answers a key question: how does the dollar compare to other major international currencies?

After the Bank of Japan's decision on December 19, the financial markets experienced a misalignment in expectations management. The central bank raised interest rates as expected by 25 basis points, bringing the policy rate to 0.75%, the highest level since 1995. However, this decision did not strengthen the yen as the market anticipated; instead, the US dollar against the yen showed a strengthening trend.
Ambiguous signals from the Bank of Japan's rate hike decision
Governor Ueda stated in the announcement that if the economic and inflation outlooks develop as expected, the bank will continue to raise interest rates. However, during the subsequent press conference, he deliberately kept the timing of the next rate hike vague, failing to provide the clear guidance the market was hoping for. Particularly regarding the neutral interest rate level, the bank only maintained a broad estimate of 1.0% to 2.5%, indicating that adjustments would be made at an appropriate time.
This cautious stance has led the market to doubt the Bank of Japan's resolve to raise interest rates. ANZ Bank strategist Felix R

From the perspective of the order book, simple numbers conceal the true intentions of market participants. When the outer market volume exceeds the inner market volume, it straightforwardly indicates that buyers are chasing prices, and the underlying logic behind this deserves in-depth understanding from every trader.
Understanding Inner and Outer Market through Transaction Logic
In stock trading, buyers and sellers are always competing. On the trading board, you will see bid and ask prices—sellers hope for higher prices, buyers hope for lower prices. But transactions occur when one side actively compromises.
When a stock price transaction occurs at the bid price, it means the seller is willing to sell at the buyer’s price, and these transactions are recorded as the inner market. A higher inner market volume suggests that sellers are more eager to sell, indicating selling pressure.
When a stock price transaction occurs at the ask price, it means the buyer is willing to buy at the seller’s price, and these transactions are recorded as the outer market. If the outer market volume exceeds the inner market, it indicates strong buyer chasing behavior and a bullish market sentiment.
For example: TSMC quotes when the bid

The Renminbi is experiencing its biggest turning point in a decade
In 2025, the performance of the US dollar against the Renminbi has been highly volatile. At the beginning of the year, under the dual pressures of uncertain tariff policies and a strengthening dollar, the offshore Renminbi once depreciated past 7.40; by mid-December, driven by expectations of Fed rate cuts and improved market sentiment, the Renminbi rebounded strongly, reaching a new high in nearly 14 months and breaking through the 7.05 level.
What signals are hidden behind this reversal? According to judgments from multiple international investment banks, the Renminbi may be bidding farewell to the continuous depreciation of the past three years and entering a new cycle of appreciation.
Key Drivers of Exchange Rate Fluctuations
To predict the trend of the US dollar against the Renminbi, four major variables need to be monitored simultaneously:
Weak performance of the US Dollar Index
In the first half of 2025, the US Dollar Index fell from 109 to 98, creating the weakest first half performance since the 1970s. After December, driven by expectations of Fed rate cuts

December 10, 2025, the Taiwanese dollar against the Japanese yen surged to 4.85, an 8.7% increase from 4.46 at the beginning of the year. If you're still debating whether it's worth exchanging now, the answer is: yes, but do it wisely.
Why is it worth exchanging for Japanese yen?
Many people think exchanging for yen is just for traveling abroad, but there are deeper reasons behind it.
Travel and consumption: Japan's cash culture still dominates, with only a 60% credit card penetration rate. Purchasing agents, drugstores, and anime merchandise all require yen.
Financial investment: The yen is one of the world's three major safe-haven currencies (alongside the US dollar and Swiss franc). When Taiwan stocks are volatile, holding yen can hedge risks. For example, during the Russia-Ukraine conflict in 2022, the yen appreciated 8% in a week, effectively buffering stock market declines. Additionally, the Bank of Japan is about to raise interest rates (Governor Ueda Kazuo's hawkish comments have increased market expectations to 80%, with a rate hike of 0.25 basis points to 0.75% expected on December 19).

Economic growth far exceeds expectations, and market sentiment turns optimistic
The US Q3 economic performance has caught investors' attention—GDP( growth at an initial annualized rate of 4.3%, far surpassing the market expectation of 3.3%, marking the fastest growth in two years. Behind this impressive data is the strong performance of household consumption expenditure. Meanwhile, data center investments have risen to record levels, with business investments increasing by 2.8%, and the booming technology industry is becoming a new engine for economic growth.
The Federal Reserve's key inflation indicator—the Core Personal Consumption Expenditures Price Index) (Core PCE()—rose by 2.9% quarter-over-quarter, in line with market expectations. The Personal Consumption Expenditures) (PCE() price index preliminary value increased by 2.8%, indicating that inflationary pressures are beginning to ease gradually, leaving room for future policy adjustments by decision-makers.
Consumer confidence has declined for five consecutive months, revealing economic concerns
However, behind the shiny GDP figures,

The fluctuations of currencies in the foreign exchange market are driven by nine major factors, categorized into short-term (interest rates and market sentiment), medium-term (political risks, inflation, employment, etc.), and long-term (trade and fiscal policies). Understanding these factors helps to effectively predict exchange rate movements and profit from trading.