EUROPEAN SESSION In the European session, we don't have much on the agenda other than the final Manufacturing PMIs for the major Eurozone economies and the UK. The data isn't going to change anything at this point, so the market reaction will likely be muted. We are currently in a risk-on sentiment triggered by US-Iran deal optimism after Trump suggested yesterday in a Truth Social post that he would be open to end the war with Iran without the Strait of Hormuz opening condition. The mood then improved further when the Iranian President said that they are ready to end the war but want guarantees. Finally, in the APAC session, Trump said that Iran doesn't even have to make a deal with the US for him to end the war as the US would leave as soon as it meets all the objectives. AMERICAN SESSIONIn the American session, we have the US ADP, the US Retail Sales and the US ISM Manufacturing PMI. The ADP is expected at 40K vs 63K prior. I don't expect the market to care much about the data now that the focus switched to a potential deal. In fact, if we do get a deal, we might still get some weak data for a couple of months but conditions will then start to improve. If the US-Iran war escalates, on the other hand, the weak data will just exacerbate growth fears.The US Retail Sales M/M is expected at 0.5% vs -0.2% prior, while the Ex-Autos M/M measure is seen at 0.3% vs 0.0% prior, The more important Retail Control M/M figure is expected at 0.3% vs 0.3%. Retail Sales is generally a market-moving report but the reaction are almost always faded because it's a volatile data set. Moreover, note that this is February data, so it's old news now and the market will just ignore it.The US ISM Manufacturing PMI is expected at 52.5 vs. 52.4 prior. The S&P Global US Flash PMIs signalled an unwelcome combination of slower growth and rising inflation following the outbreak of war in the Middle East, according to the agency. The Flash Manufacturing PMI wasn't impacted as much as the Services PMI though. We can expect to see a weaker ISM employment index and a very strong prices index.Lastly, we have Trump addressing the nation at 21:00 ET/01:00 GMT giving an "important" update on Iran. The only thing that scares me a little here is that it's going to be after market hours. CENTRAL BANK SPEAKERS10:30 GMT/06:30 ET - ECB's Cipollone (neutral - voter)13:05 GMT/09:05 ET - Fed's Musalem (hawkish - non voter)13:10 GMT/09:10 ET - Fed's Barr (neutral - voter) This article was written by Giuseppe Dellamotta at investinglive.com.