Global markets head into a data-heavy week with investors closely tracking developments in US-Iran peace talks, labor market data, inflation readings, and business activity surveys. The flow of tankers through the Strait of Hormuz will remain in focus after improving shipping activity helped ease energy prices and inflation concerns.

In the US, attention will center on the June non-farm payrolls report, alongside the ADP employment report, JOLTS job openings, Challenger job cuts, ISM Manufacturing PMI, factory orders, and consumer confidence data for fresh clues on the Federal Reserve's policy outlook.

In Europe, inflation readings from the Eurozone and major economies including Germany, France, Italy, and Spain will be closely watched, while policymakers gather at the ECB Forum in Sintra for signals on the future path of interest rates. Labor market data across the region will also remain in focus.

Across Asia, markets will watch China's official and private PMIs for signs of economic momentum, while Japan's Tankan survey, industrial production, retail sales, and unemployment data will provide insights into the country's recovery. Investors will also keep an eye on India's industrial output, Australia's trade data and RBA meeting minutes, along with PMI and inflation releases across the broader Asia-Pacific region.

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