一周前：美元的下行调整能否承受政策分歧？。美国总统特朗普的关税威胁在上周初扰乱了外汇市场，但到最后，市场似乎已经采取了许多人越来越认为的谈判立场。在选举前一周左右，随着一些参与者开始持观望态度，美元兑几种主要货币对的汇率已经达到峰值。

Week Ahead: Can the Dollar's Downside Correction Withstand the Divergence of Policy?.US President Trump's tariff threats roiled the foreign exchange market at the start of last week, but by the end, the market seemed to have taken what many see increasingly as negotiating positions in stride. The dollar had topped out against several of the major currency pairs a week or so before the election as some participants began moving to the sidelines.

美元/日元展望：随着美联储、核心个人消费支出逼近高位，多头守住底线。美元/日元多头可能已经避免了日本央行引发的撤退，但真正的考验还在前面。随着鲍威尔的新闻发布会和关键的通胀数据出炉，鹰派的美国利率重新定价是否有瓦解的风险？

USD/JPY Outlook: Bulls Hold the Line as Fed, Core PCE Loom Large.USD/JPY bulls may have staved off a Bank of Japan-inspired retreat, but the real test lies ahead. With Powell's press conference and critical inflation data on deck, is the hawkish US rates repricing at risk of unravelling?

石油新闻：随着原油价格每周下跌，特朗普向欧佩克施压。特朗普对欧佩克的推动：随着美国增加国内供应，油价在四周上涨后下跌。特朗普的政策会损害原油的复苏吗？

Oil News: Trump Pressures OPEC as Crude Posts Weekly Decline.Trump's OPEC Push: Oil Prices Fall After Four Weeks of Gains as U.S. Boosts Domestic Supply. Will Trump's policies hurt crude oil's recovery?

穆迪评级将肯尼亚的前景从“负面”上调至“正面”，理由是随着时间的推移，流动性风险可能会降低，债务负担能力也会提高。该机构强调，低通胀和稳定的汇率可能导致国内借贷成本进一步下降，因为过去货币政策降息的影响继续降低长期借贷利率。它还指出，国际货币基金组织（IMF）的一项新计划将加强肯尼亚的外部融资，即使没有IMF的支持，世界银行等多边贷款机构仍然是主要的资金来源。穆迪确认肯尼亚的本币和外币长期发行人评级为“Caa1”。与此同时，标准普尔将肯尼亚的信用评级维持在B-，前景稳定。

Moody's Ratings revised Kenya's outlook to "positive" from "negative," citing a potential reduction in liquidity risks and improved debt affordability over time. The agency highlighted that low inflation and a stable exchange rate could lead to further declines in domestic borrowing costs as the effects of past monetary policy rate cuts continue to lower long-term borrowing rates. It also noted that a new International Monetary Fund (IMF) program would bolster Kenya's external financing, with multilateral lenders like the World Bank remaining key funding sources even without IMF support. Moody's affirmed Kenya's local and foreign-currency long-term issuer ratings at "Caa1." Meanwhile, Standard & Poor's maintains Kenya's credit rating at B- with a stable outlook.