EUROPEAN SESSIONIn the European session, we don't have much on the agenda other than a couple of low tier releases like the Spanish employment change and Italian retail sales data. The figures won't change anything for the ECB, so the market reaction will be muted.Market focus remains on US-Iran developments, with risk sentiment maintaining the positive momentum after Trump called off planned strikes over the weekend. For now, the Iranian side continues to deny talks with the US and claims of a deal, with the Strait of Hormuz remaining closed. AMERICAN SESSIONIn the American session, we get the US Job Openings report for June expected at 7.453M vs 7.594M prior. The data is unlikely to change anything for the Fed given the focus on inflation, so the market reactio will likely be muted. The US labour market has been gradually strengthening since the start of the year after the 2025 tariffs uncertainty faded and the Fed rate cuts helped propping up business sentiment. This article was written by Giuseppe Dellamotta at investinglive.com.