This week's macro outlook: The Federal Reserve will announce its interest rate decision on Thursday, and the CLARITY Act faces a crucial vote

This week, global markets enter a central bank super week. The Federal Reserve's FOMC will announce its interest rate decision and economic projections summary at 2 AM Beijing time on Thursday, followed by a monetary policy press conference by Chairman Powell; the Bank of England and the Bank of Japan will also announce their decisions on Thursday and Friday, respectively. Meanwhile, the U.S. Senate will hold a key procedural vote on the CLARITY Act on Tuesday local time, and the SEC will hold a roundtable discussion on 24-hour trading on the same day.

Tuesday: Key procedural vote on the Cryptocurrency Market Structure Act (i.e., CLARITY Act); U.S. ADP employment change for the week ending August 29; U.S. September New York Fed Manufacturing Index. Wednesday: U.S. API crude oil inventories for the week ending September 11; U.S. August retail sales month-on-month, U.S. August import price index month-on-month, U.S. September NAHB housing market index; U.S. July business inventories month-on-month, U.S. EIA crude oil inventories for the week ending September 11.

Thursday: Federal Reserve FOMC announces interest rate decision (2 AM Beijing time on Thursday) and economic projections summary, Federal Reserve Chairman holds a monetary policy press conference; U.S. initial jobless claims for the week ending September 12; Bank of England announces interest rate decision and meeting minutes; SEC holds a roundtable discussion on 24-hour trading. Friday: Bank of Japan announces interest rate decision, Bank of Japan Governor Kazuo Ueda holds a monetary policy press conference.