It's a big week for central banks as the ramifications of the Fed's recent hawkish signals continue to unfold and markets prepare for its FOMC meeting on Wednesday as well as a flurry of news from the Japanese, Australian, Norwegian and South African banks. 

   • Fed will likely start its quantitative tightening process
   • Bank of Japan will eventually need to perform an ECB-type downshift
   • Paucity of data releases will increase interest of central bank speeches
   • Japanese equities power higher but UK equities still weak
   • FOMC and weaker yen hurting precious metals