Global PMI Data, Central Bank Decisions and Trump-Xi Summit Dominate Week Ahead

Markets will focus on S&P Global's September flash PMI readings and interest rate decisions from multiple central banks during the week of Sept. 21-25, as investors assess the Federal Reserve's rate outlook following last week's hike. U.S. flash manufacturing and services PMI data due Wednesday will signal how businesses are weathering recent oil price surges. ING economist James Knightley noted only two FOMC members now oppose further tightening this year, indicating a broad hawkish shift within the committee. The Swiss National Bank is expected to hold rates at 0% on Thursday, while Sweden and Norway are forecast to keep rates at 1.75% and 4.25%, respectively. China's one-year loan prime rate is expected to remain at 3% on Monday. Indonesia's central bank is seen holding at 5.75% Wednesday, while South Africa may hike 25 basis points to 7.25% on oil-driven inflation concerns. Chinese President Xi Jinping will visit Washington on Thursday for his first White House trip in a decade, meeting President Trump amid trade and semiconductor tensions.