U.S. consumers said last month they expected slightly lower inflation in a year's time, the New York Federal Reserve said in a report that also showed the bank stresses that kicked off in March weren't weighing heavily on the moods of Americans.

The U.S. banking sector overall appears well-positioned to weather recent industry turmoil, but the experience could still weigh on credit conditions in the future, the Federal Reserve said on Monday.

Oil prices moved in a flat-to-low range in early Asian trade on Tuesday as investors turned cautious ahead of key U.S. inflation data this week, while trade data from major crude importer China was also in focus. 

The dollar inched higher on Tuesday after a loans survey revealed that credit conditions in the United States were less gloomy than expected, while the pound flirted with a one-year peak ahead of this week's Bank of England policy meeting.

China's exports were expected to have risen again in April, albeit at a less robust pace than a month earlier, a Reuters poll showed, supported by unfulfilled orders after last year's COVID disruptions though slowing global growth is darkening the outlook.

The heatwave phenomenon in the country not only restricts the daily activities of the public but has also affected the yield of farmers and rubber smallholders, especially in Jempol (Negri Sembilan) and Padang Terap (Kedah), which had recorded level one (alert) weather status.