Weekly Market Outlook: FOMC and European PMIs in focus May 17, 2021 11:00 Wednesday’s FOMC meeting minutes release takes centre stage this week after last week’s surge higher in the US inflation figures. More and more investors are leaning towards the Fed having to increase interest rates sooner rather than later but the central bank has so far stood firm. While the US dollar is likely to be in focus this week, traders will also be digesting the Australian employment report and European PMI figures from Germany and France. The euro has had good volatility over the past few weeks but is still directionless in the long term.