Oil prices dipped in early Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, while expected crude supply cuts from Saudi Arabia and Russia supported the market.
Asian share markets edged cautiously higher on Monday as investors looked ahead to a key reading on U.S. inflation and the start of another corporate earnings season.
Most Asian stocks fell sharply on Friday, extending losses from the prior session as signs of a robust U.S. labor market drove up concerns over rising interest rates, with focus now turning to nonfarm payrolls data due later in the day.
Growth in Britain's private sector slowed sharply last month, despite businesses facing lower inflation, as higher Bank of England interest rates weighed on demand, a survey showed on Wednesday (July 5).
The ringgit is far more sensitive to the movement of commodity prices than its Asian peers, said Employees Provident Fund chief strategy officer Nurhisham Hussein.
Retail sales in the euro zone were unchanged in May, Eurostat said on Thursday, as increased spending on non-food items offset declines for food and automotive fuel.