A leading indicator of Japan’s service-sector inflation hit 3.1% in April, data showed on Tuesday, keeping alive expectations of further interest rate hikes by the central bank.

Most Asian stocks moved in a flat-to-low range on Tuesday as investors remained on edge over more U.S. trade tariffs, while Japanese markets dipped after Bank of Japan Governor Kazuo Ueda signaled that more interest rate hikes were possible. 

Oil prices eased on Tuesday as market participants weighed the possibility of an OPEC+ decision to further increase its crude oil output at a meeting later this week.

The dollar struggled on Tuesday to regain its footing as investor concerns over a sweeping tax and spending bill and its implications for the U.S. debt profile added to the recent erosion of confidence in American assets.

Oil prices recorded limited gains on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt the global economy.

Stock markets across Asia were steady on Monday, and the euro rallied after President Donald Trump abruptly extended by more than a month his threat to slap 50% tariffs on EU goods, marking another temporary reprieve in his erratic trade policy.