U.S. manufacturing activity slumped to a 14-month low in December, with new orders contracting further and input costs grinding higher as the sector continued to bear the imprint of President Donald Trump's import tariffs.
Minneapolis Federal Reserve President Neel Kashkari on Monday said inflation is slowly trending down, but there is a risk the jobless rate could "pop" higher.
Oil prices fell slightly in Asian trade on Tuesday, with market volatility appearing to subside as traders digested the U.S. capture of Venezuelan President Nicolas Maduro.
Indonesia's trade surplus widened in November to $2.66 billion, official data showed on Monday, but was less than expectations after exports of commodities such as coal, nickel and copper dropped, while inflation in December climbed to a 20-month high.
Euro area money supply growth edged higher in November, with bank lending to households and companies also increasing, according to data released by the European Central Bank on Friday.
Japan's manufacturing activity stalled in December as demand declined at a slower pace from the previous month, a private-sector survey showed, ending a five-month streak of deterioration.