ALL EYES TOWARDS FOMC -

Nick Bennenbroek of Brown Brothers Harriman suggests a
bullish euro stance into the Fed decision Thursday. A 25bp rate hike is
expected, but the statement will be the driver, he says. "...We think
the FOMC will seek to maintain flexibility regarding its future policy
actions in the accompanying statement, a potential disappointment
considering that the August fed funds futures is currently pricing in
around an 86% chance of another 25bps at the August meeting,"
Bennenbroek says. With Fed disappointment and recently hawkish ECB
rhetoric, the euro could spike higher. He suggests a euro long at
$1.2550, with a stop at $1.2450 and a topside target of $1.3000.


EVERYONE SHOULD HAVE EYES TOWARD FOMC MEETING.
YOU SHOULD ALSO HAVE EYES ON THE DELIEVERY OF MESSAGE, WHICH IS IMPORTANT.