While the U.S. Federal Reserve is expected to cut its benchmark Federal Funds target rate to a record-low 0.5% at its policymaking Federal Open Market Committee meeting tomorrow (Tuesday), the European Central Bank (ECB) is signaling a reluctance to drop its key rate below 2.0%.

In the currency market, the dollar continued to move higher against the euro. Late Friday, the euro was trading at $1.5424 vs. $1.5457 on Thursday.