Markets will monitor the flow of tankers and commercial vessels through the Strait of Hormuz, as the recent rebound in traffic drove energy prices to decline. The US will release a batch of labor market data, headlined by the June jobs report, topping off results from the JOLTS, ADP report, and the Challenger job cuts report. Other key data includes the ISM Manufacturing PMI, factory orders, and Case-Schiller home prices. In Europe, the ECB will host speeches by Governing Council members and other central bankers in their annual forum. Also, the Eurozone and its largest economies will publish their inflation rate. In Japan, the Tankan index will take the spotlight along with industrial production, retail sales, and the unemployment rate. Meanwhile, China will post both official and broader industry PMIs.