EUROPEAN SESSIONIn the European session, we don't have much on the agenda other than a couple of low tier releases like the Italian Industrial Sales and Swiss Economic Sentiment Index that won't change anything for the respective central banks. The price action is being driven by renewed escalation in the Middle East as Iran fired ballistic missiles towards US bases in a "surprise attack". AMERICAN SESSIONIn the American session, the only highlight is the FOMC rate decision. The Fed is expected to keep interest rates unchanged but with a couple of dissenters voting for a rate hike at this meeting already (Fed's Logan and/or Fed's Hammack). At the end of the day, the monthly core inflation data before the September meeting will decide whether the Fed hikes or not.