The dollar pared some of its strong overnight gains on Tuesday after investors flocked to the safe-haven currency on nerves over China's COVID flare ups, though cautious risk sentiment kept the greenback in demand.

Oil prices rose slightly in early Asian trade on Tuesday, a day after Saudi Arabia denied a media report that it was discussing an increase in oil supply with OPEC and its allies.

The world produced about 1.435 million tons of natural rubber (NR) during October 2022, about 87% of the production attributed from ANRPC members. While the growth in global demand of NR recorded at 1.2% to 1.301 million tons during the same reference period. The rubber markets across major producing countries have posted downward price trends in October 2022. 

 Oil prices fell on Monday, extending steep losses from last week as concerns over rising Chinese COVID-19 infections and a potential global recession dampened the outlook for demand.

Asian share markets and oil prices slipped on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, with resulting risk aversion benefiting bonds and the dollar.

The U.S. dollar started the week on the front foot, boosted by defensive buying as investors remained on edge following a spike in COVID-19 cases in some cities in China that prompted officials to tighten restrictions.