Esteban Ma
345 Articles
Esteban Ma, CFA Level 2 CANDIDATE, is a financial editor at TradingKey, mainly focusing on covering equities, cryptocurrencies and commodities. With two years of experience in crypto at Gate.io Research and three years in comprehensive finance, he specializes in cryptocurrency industry analysis and macroeconomic analysis.
He passed the Certificate of Security Qualification(CSQ) and Certificate of Futures Qualification(CFQ).
Written by Esteban Ma
Reviewed by Esteban Ma
April Tokyo CPI Rises to 3.5%: Can the Bank of Japan Proceed with Rate Hikes Without Worry?
TradingKey - In April, inflation in Tokyo reached its highest level in two years, potentially strengthening the Bank of Japan (BOJ) to resolve further interest rate hikes. This development aligns with the BOJ’s previous stance that there is no need to alter its fundamental policy trajectory, and...
Fri, Apr 25
Breakthrough in U.S.-China Tariff War? Reports Suggest China is Preparing an Exemption List
TradingKey - Following continued signals from U.S. President Donald Trump to reduce tariffs in a bid to facilitate trade negotiations, reports indicate that China is considering suspending tariffs on select U.S. goods, including semiconductors, medical equipment, and chemicals.
Fri, Apr 25
"Make or Break"? Trump Changes Stance Again: May Reimpose Reciprocal Tariffs Within Weeks
TradingKey - Less than 100 days into his presidency, U.S. President Donald Trump has performed yet another round of policy flip-flopping on tariffs. Just two weeks after granting a "90-day pause," Trump stated that if the U.S. fails to reach agreements with its trading partners, he will reimpose...
Thu, Apr 24
U.S. Spares "Yen" Talks, BOJ Rate Hike to Delay, Yen Weakness Returns?
TradingKey - After U.S. Treasury Secretary Scott Bessent stated that the Trump administration would not seek specific exchange rate targets in trade talks with Japan, the yen fell sharply, with the dollar-yen pair rising over 1%. The market now turns its attention to the second round of U.S.-Japan..
Thu, Apr 24
Has Trump Headwind Eased? Wall Street Remains Skeptical: Continuing to Bet Against the Dollar and U.S. Stocks
TradingKey - Wall Street remains unconvinced that confidence in the dollar has been restored: analysts continue to bet against the dollar and U.S. equities.
Thu, Apr 24
Trump's Attack on Firing Powell Not Over Yet? Will the Fed's Independence Fall Off Its Pedestal?
TradingKey - Less than a hundred days into Donald Trump’s return to the White House, his administration has not only imposed historically rare high tariffs but is also pushing to boundaries of U.S. law by attempting to directly remove Federal Reserve Chair Jerome Powell.
Thu, Apr 24
Flight from Dollar Assets Forces Trump to Back Down: High Tariffs and Threats to Fire Fed Chair Powell Eased
TradingKey - After two weeks of a massive flight from dollar assets, U.S. President Donald Trump’s relentless pursuit of high tariffs and his controversial plan to challenge the dollar's dominance by threatening to fire Federal Reserve Chair Jerome Powell have proven unsustainable.
Wed, Apr 23
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Is Tesla's Q1 Earnings Report a Turning Point? Musk to Resign from DOGE as Tariff War Eases
TradingKey - Despite electric vehicle leader Tesla (TSLA.US) posting disappointing results for the first quarter of 2025, with both revenue and profits declining, the two major "headaches" that have been worrying the market seem to be on the verge of being resolved: CEO Elon Musk is set to step...
Wed, Apr 23
Japan Selling U.S. Bonds to Defend the Yen? Japanese Yen Surges to 140 as Japan Defies U.S. Pressure
TradingKey - As the weakening of the dollar intensifies, the yen has strengthened, breaking through the 140 level. Meanwhile, one of the key players behind the "U.S. Treasury storm" that occurred after President Trump’s reciprocal tariff policy took effect in early April has been confirmed to be...
Tue, Apr 22
Ishiba Takes a Hard Line as Japanese Auto and Tourism Industries Already Feel the Pain of Trump's Tariffs
TradingKey - As the impact of Trump’s tariffs on the real economy begins to surface, and more countries voice opposition to Trump’s tariff policies, Japan appears to be adopting a tougher stance in its trade negotiations with the U.S.
Tue, Apr 22
Trump Meets with U.S. Retail Giants, Walmart and Target Might Feel the Pain Differently
TradingKey - On Monday, April 21, U.S. President Donald Trump met with the CEOs of three major American retailers at the White House: Doug McMillon of Walmart, Brian Cornell of Target, and Ted Decker of Home Depot. Overall, high tariffs will increase import costs, erode corporate profits, and...
Tue, Apr 22
U.S. Stocks, Bonds, and Currency All Suffer! Is the True Face of ‘Trump Trade’ Actually ‘Sell America’?
TradingKey - The shocks to the capital markets brought by U.S. President Donald Trump have come in waves. With tariff risks still looming, the ongoing drama of attacking Federal Reserve Chair Jerome Powell has escalated. The market may be reaching a new consensus: the so-called "Trump trade" is...
Tue, Apr 22
Understanding the Fed’s Overnight Reverse Repo(RRP), What Is the Relationship Between QT and Debt Ceiling
TradingKey - As the U.S. enters a new rate cycle, the quantitative tightening (QT)—initially launched to reduce the Federal Reserve’s bloated balance sheet following the COVID-19 pandemic—is also nearing its conclusion. A key metric in gauging when to end QT is the scale of the Fed’s ON RRP...
Tue, Apr 22
Trump’s Tariff Policies Come at a High Cost: Economic Approval Rate Hits New Low, GOP Warns of Party Rift
TradingKey - U.S. President Donald Trump’s relentless push to raise tariffs is not only threatening U.S. and global economic growth but also undermining his own presidential approval ratings, with support for his economic policies hitting a new low in his presidency. Meanwhile, there are growing...
Mon, Apr 21
Trump’s "Golden Rule" Fuel Gold Rally, Trump’s Shadow Looms Large Over Gold Bull Market
TradingKey - Following a 25% surge in international gold prices in 2025, the rally has gained fresh momentum: U.S. President Donald Trump's threat to fire Federal Reserve Chair Jerome Powell has sparked concerns over financial stability, while Trump openly endorsed holding gold, stating, "HE WHO HAS
Mon, Apr 21
Before Tesla Q1 Earnings, Wedbush: Musk's DOGE Role Could Make or Break Tesla
TradingKey - Ahead of Tesla's Q1 2025 earnings report, Dan Ives, a "longtime Tesla bull" and analyst at Wedbush, has issued another warning. He stated that Elon Musk’s political role in the White House’s Department of Government Efficiency (DOGE) is damaging Tesla's brand, and whether Musk stays...
Mon, Apr 21
Trump Tariffs Spark Global Central Bank Rate Cuts – Could the ECB Cut Rates 10 Times in Two Years?
TradingKey - Under the threat of U.S. President Donald Trump’s aggressive tariff policies, global central banks have been forced to reconsider their monetary policy stances. Following interest rate cuts by the Reserve Bank of New Zealand and the Reserve Bank of India, the European Central Bank...
Fri, Apr 18
A Historic Moment in the U.S.: Trump vs. Powell, Can the President Fire the Fed Chair?
TradingKey - Discussions about terminating Federal Reserve Chair Jerome Powell’s tenure and the independence of the Federal Reserve have been heating up both before and after Donald Trump took office. Following the European Central Bank’s interest rate cut in April 2025, Trump renewed his calls...
Fri, Apr 18
U.S. Big Banks Earnings Q1 2025: Profits Amidst Worries, A Tale of Trump's Mixed Influence?
TradingKey - Against the backdrop of President Donald Trump’s "deregulation" agenda, Wall Street’s major banks have yet to stage a significant rally in early 2025. However, buoyed by high interest rates and policy uncertainty under the Trump administration, the Q1 earnings reports from the six...
Fri, Apr 18
U.S.-Japan Talks Avoid Yen Exchange Rate, BOJ Likely to Cut Growth Forecasts Amid Uncertain Rate Hike Prospects
TradingKey - The United States and Japan have begun negotiations on tariff-related issues, with statements from President Donald Trump and the Japanese delegation causing fluctuations in the yen exchange rate. Although Bank of Japan (BOJ) Governor Kazuo Ueda has reiterated the possibility of a...
Thu, Apr 17
