PerpetualLonger

The US Dollar Index is currently declining consecutively. Analysis shows that the dollar's movement is influenced by Federal Reserve policies and economic performance, and it may remain volatile at low levels in 2025, facing depreciation pressure. Investors need to adapt flexibly to market changes, seize swing trading opportunities, and develop medium- to long-term allocation strategies.

In stock investing, the Price-to-Earnings (P/E) ratio is a key indicator for assessing whether a company's stock price is reasonable. Whether you're a professional investor or a newcomer to the market, understanding this concept is essential. So, what exactly is the P/E ratio, how is it calculated, when is it considered cheap, and when is it considered expensive? This article provides a comprehensive explanation.
P/E Ratio Name and Definition in English
The full English name of the P/E ratio is Price-to-Earning Ratio, abbreviated as PE or PER, and it is also called the Price-to-Earnings ratio in Chinese. Its core meaning is: how many years of profit are needed to recover the investment. In other words, this indicator directly reflects the valuation level of the current stock price relative to the company's profitability.
For example, if a company's P/E ratio is 13 times, it means that you need 13 years to recover your investment through the company's profits. Conversely, it implies that the company needs 13 years to earn back its current market value.
The P/E ratio is simplified

In the era of low global interest rates, an increasing number of investors seeking higher returns are turning to the foreign currency market. Taiwan's legal tender is the New Taiwan Dollar, and all other currencies are referred to as foreign currencies. Many investors are aware of the mechanisms for earning from foreign exchange, but may not fully grasp the true profit strategies. This article will delve into the core logic of foreign currency investment, mainstream investment methods, currency characteristics analysis, and practical risk management advice.
Foreign Currency and Forex: Conceptual Distinction and Trading Essence
Foreign currency refers to currencies other than the domestic currency, while forex encompasses a broader concept—including foreign banknotes, deposit certificates, government bonds, corporate bonds, and other international payment instruments. In short, forex trading involves the buying and selling of foreign currencies, and currency trading is a specific practice within forex trading.
Forex trading mainly serves international trade settlement, capital allocation, and national reserves. In contrast, foreign currency investment focuses more on value-added opportunities in payment for goods and currency exchange. Understanding

Futures are a type of forward contract that allows traders to use leverage to maximize gains with a small amount of capital, but they come with high risks. They can be used to go long or short, offering more flexibility than stocks. Risks include amplified leverage and margin calls, so risk management is crucial. Investors should establish a trading system and practice with a demo account to understand the nature and potential risks of futures trading.

Malaysia's New Opportunities in the Forex Market
Once upon a time, engaging in forex trading in Malaysia faced numerous obstacles, and some participants even faced legal consequences. But now, the situation has completely changed—the improved regulatory framework has gradually brought this market into formalization, allowing investors to trade various currency pairs through compliant and legitimate investment platforms.
However, with opportunities come difficulties in choosing. In a market environment filled with both legitimate and dubious platforms, how to identify whether a trading platform is truly reliable has become the primary concern for all new investors.
First Step: Learn to Check Regulatory Licenses
Before opening an account, the most important thing is to verify the regulatory system behind the platform. This not only ensures safety but also serves as a legal weapon in case of disputes.
Globally recognized Tier 1 regulatory authorities include:
- UK FCA (Financial Conduct Authority) — the strictest regulation
- Australian ASIC (Australian Securities and Investments Commission)

In the Taiwanese trading market, CFDs (Contract for Difference) as a flexible derivative instrument have attracted increasing attention from investors. However, faced with hundreds of trading platforms available, investors often find themselves in a dilemma—which CFD platform is truly trustworthy?
Why should choosing a CFD platform be approached with extra caution?
A CFD is a trading instrument that does not involve actual ownership of the underlying asset. Investors profit by predicting price movements. The advantages of this method include no need to hold the physical asset, the ability to trade in both directions, and flexible leverage. However, the risks behind it should not be overlooked.
Three major pitfalls in CFD trading:
First is the risk to fund safety. Unregulated brokers may misappropriate client funds or freeze accounts during market volatility, leading investors to lose everything. Second is the risk of quote manipulation. Some unscrupulous platforms may arbitrarily adjust quotes, create spread discrepancies, or even manipulate prices to cause losses for clients.

Why CFD Trading is Rapidly Growing in the Taiwan Market
Contracts for Difference (CFD) have become increasingly popular among investors in Taiwan in recent years. The appeal of these trading instruments lies in their low entry barriers, high flexibility, and diverse asset options—from forex, stocks, and indices to cryptocurrencies. Investors do not need to physically hold the underlying assets; they simply open positions based on the direction of price movements.
However, like any financial instrument, CFD trading carries risks. Due to the industry's rapid development and the regulatory framework still being refined, investors need to be especially cautious when choosing trading platforms to avoid falling into traps set by unregulated brokers.
Top 3 Risk Warnings for CFD Trading Platforms
Before selecting a CFD platform, it is essential to understand the main types of risks present in the market:
Fund Security Risk: Lack of third-party

As BTC climbed to $126K in October, few anticipated that Wall Street's embrace would trigger the very crash that exposed crypto's new fragility
When Bitcoin surged past $126,200 in early October, the rally seemed unstoppable. Yet within days, a flash crash sent shockwaves through the market,

Telegram bots have become popular in crypto communities due to their convenience, allowing users to easily perform transactions, follow trades, and more. However, they also face risks such as private key security, smart contract vulnerabilities, and token dependence. The main revenue for bots comes from transaction fees. The market has huge potential, but users should exercise caution, choose leading products, and control their investments. The industry is still in its early stages and may expand to more platforms and integrate multiple functions in the future.

The article introduces the basic concept of a "lot" in forex trading and its derivative units, explaining the definitions and conversion relationships of standard lots, mini lots, and micro lots. It also discusses the operating principles of leverage and its importance in risk management, emphasizing the characteristic that leverage can amplify both gains and losses, and reminds investors to carefully manage risks during trading.

In 2026, the USD/JPY will experience intense volatility, with clear disagreements among investment banks regarding the yen forecast. The bears believe that policy stimulus suppresses the yen, while the bulls are optimistic about rate hikes and intervention expectations supporting the yen. Investment institutions generally predict the potential lows at the beginning of the year and the trend at the end of the year, advising investors to adjust their strategies flexibly based on market conditions.

The year-end foreign exchange market sees the RMB appreciate, with the USD to RMB exchange rate falling to a new low, driven by central bank policies and a surge in foreign exchange settlement by export companies. Market opinions on the RMB outlook for 2026 are divided, with some predicting further appreciation, but attention should be paid to the USD trend and the economic performance of China and the US.

What exactly is PCE? Why is the Federal Reserve so focused on it?
Many people have heard of the PCE index, but they always feel it's just a string of numbers. In fact, PCE (Personal Consumption Expenditures Price Index) is the most handy inflation measurement tool in the Fed's arsenal, even more important than the CPI.
Simply put, PCE reflects changes in people's spending across various areas such as food, clothing, housing, transportation, healthcare, and entertainment. Personal consumption makes up the majority of a country's total economic output, so fluctuations in PCE directly indicate the state of the economy—whether it's heating up or cooling down.
Why is the Fed so enamored with PCE? Because it is more comprehensive. PCE covers all consumer expenditures, including items like insurance and healthcare that the CPI might overlook. When PCE is high, it indicates genuine inflationary pressure; when PCE declines, the economy might be losing steam.
How is PCE calculated? Investors need to understand this logic.

The RMB to USD exchange rate has recently hit a new low. The depreciation of the US dollar, central bank policy guidance, and the year-end foreign exchange settlement surge are driving the RMB to appreciate. Analysis predicts that the RMB will still have room for appreciation in 2026. Multiple institutions forecast that the exchange rate will further decline, attracting more foreign investment.

Gold has recently surpassed the historic high of $4,500 due to weak US economic data and rising expectations of interest rate cuts. Safe-haven funds are flowing in large quantities, and the low-interest-rate environment reduces holding costs, leading to a reevaluation of gold's relative value and attracting investors to allocate assets.

In December 2025, the Taiwan dollar against the Japanese yen surged to 4.85, and suddenly more people are exchanging for yen. Are you ready to exchange? Don't rush to the bank—because choosing the wrong method could cost you an extra 1,500-2,000 yuan. We'll explain four exchange channels once and for all, and tell you how to still make a profit after exchanging.
Why exchange yen now?
First reason: Hedging. The Japanese yen is one of the three major safe-haven currencies globally (along with the US dollar and Swiss franc). During the Russia-Ukraine war last year, the yen appreciated by 8% in a week, while the stock market fell by 10%. Some people preemptively exchanged yen, effectively insuring their Taiwanese stocks.
Second reason: Appreciation. This year, the Taiwan dollar against the yen rose from 4.46 to 4.85, an appreciation of 8.7%. Simply exchanging currency can earn the difference. The Bank of Japan is about to raise interest rates to 0.75% (a 30-year high), leaving room for the yen to appreciate further.
Third reason: Interest rates. The yen fixed deposit annual interest rate is 1.5-1.8%, which seems low, but

The Japanese Yen to Chinese Yuan exchange rate depreciation intensifies, with USD/JPY breaking through 157. US stock futures rise, led by technology stocks, with Oracle's stock price soaring. The global options market faces a concentrated expiration of $7.1 trillion, increasing market volatility. Cryptocurrencies collectively rebound, with Bitcoin and Ethereum rising. The precious metals market shows divergence, with platinum surging and gold declining, indicating a shift in capital flows.

The performance of the RMB against the US dollar in 2025 can be described as a "bright future after dark clouds." After experiencing three consecutive years of depreciation from 2022 to 2024, the RMB exchange rate reversed its downward trend this year, demonstrating remarkable resilience. It fluctuated within the 7.1 to 7.3 range throughout the year, appreciating a total of 2.40%. The offshore RMB experienced even greater volatility, oscillating between 7.1 and 7.4, with an annual appreciation of 2.80%, and showing significantly higher sensitivity to international risk factors.
The most notable moment for the market was on November 26—driven by the improvement in China-US trade relations and rising expectations of Federal Reserve rate cuts, the RMB appreciated against the dollar to below 7.08, even reaching 7.0765 at one point, marking the highest level in nearly a year. What does this breakthrough signify? Let’s analyze it from historical context and future prospects.
Review of the RMB exchange rate cycle over the past five years
To understand the present, we must first look back at the past. The past five years

In 2025, Taiwan's technology industry faces a comprehensive shortage, leading to a record high in the number of high-value stocks, covering areas such as cooling and PCB. The demand for AI drives up the prices of advanced materials, and market funds flow into thematic ETFs, indicating that the 2026 new technological revolution will bring a new wave of device upgrades, continuously supporting related stock prices.