Reuters

Oil prices retreated in early Asian trade on Tuesday, halting a run of eight straight days of gains on signs that a relentless rise in U.S. crude production is running out of steam.

The dollar steadied on Tuesday after rallying on upbeat U.S. data that boosted Treasury yields to seven-week highs.

Asian shares climbed on Tuesday, following positive leads from Europe and the U.S. as oil’s longest stretch of daily price gains in over five years lifted energy shares.

The dollar stood tall early on Tuesday after upbeat U.S. data boosted Treasury yields to seven-week highs.

Major automakers on Monday reported a fourth consecutive month of lower U.S. new vehicle sales for June and came in below analyst expectations.

U.S. and European shares kicked off the new quarter with gains on Monday as talk about interest rate hikes boosted bank stocks, while the dollar edged up from nine-month lows.

Germany’s 10-year government bond yield edged higher to hit a fresh 3-1/2 month high on Monday.

U.S. factory activity jumped in June suggesting economic growth in the second quarter gained some steam.

The dollar recovered ground on Monday, hitting a six-week high against the yen as higher U.S. government bond yields helped halt a run of losses that added up to the currency’s worst quarter since 2010.

Australia’s jobs market looks healthier than it has in months while house prices are cooling in the face of tighter lending rules, all arguments for steering a steady course on interest rates this week.