U.S. manufacturing grew for the first time in more than two years in January, but the durability of the recovery was in doubt after President Donald Trump slapped tariffs on goods from three major trade partners at the weekend.

Oil prices retreated on Tuesday after U.S. President Donald Trump agreed to hold off imposing steep tariffs on Mexico and Canada, the two biggest foreign oil suppliers to the United States, for a month.

The dollar index was lower on Monday after U.S. President Donald Trump paused new tariffs on Mexico for one month, after the country agreed to reinforce its northern border with 10,000 National Guard members to stem the flow of illegal drugs, Trump said.

Asian stocks were a mixed bag on Friday as investors grappled with the prospect of trade tariffs under U.S. President Donald Trump, who threatened to impose steep tariffs on the BRICS bloc. 

Thailand is bracing for an extended EV price war triggered by a surge in local production from Chinese car makers, a move likely to deal a further blow to a domestic auto industry already struggling with tumbling sales, industry experts said.

Oil prices rose on Friday as markets weighed the threat of tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest crude exporters to the U.S., that could take effect this weekend.