Signs of progress in negotiations or risks of escalatory strikes involving Iran, the US, and Gulf nations will continue to be closely monitored as high energy inflation keeps global bond yields near multi-decade highs. Equity markets will also be shaped by corporate earnings, headlined by TSMC, ASML, JPMorgan Chase, Bank of America, Citigroup, Johnson & Johnson, LVMH, and UnitedHealth. On the economic calendar, US CPI and PPI prints will take the spotlight, alongside domestic retail sales, industrial production, and the terms of trade. In the eurozone, investors will look to upcoming industrial production and trade data. Meanwhile, China's trade balance will draw attention amid persistent protectionist measures from key partners, and monetary aggregates will show the scale of credit for traditional and emerging economic sectors. Japan is set to release its PPI and machinery orders, while India and Australia are due to post labor market updates.