Forex Trading News: USD Holds Its Gains Overnight On Speculation FED Will Ease On Rate Cuts

The USD made and increased its gains overnight on speculation that the FED, after next weeks meeting, will begin to cease cutting interest rates.  Assisting in these moves overnight was weak EUR Business Ifo numbers, showing poor confidence levels not seen since 2001 in the EUROZONE.  The FED meets next week and the forecast is for another quarter of a point cut.  Today's major data (Core Durable Goods Orders and New Home Sales) will help finish painting this picture leading into next weeks FED meeting.