The volatility in currencies overshadowed data
from China that showed consumer prices rose 1.4 percent in February
compared with the same month last year, although much of the increase
was due to seasonal volatility in food prices.
Producer
prices continued to slide, underscoring deepening weakness in the
economy and intensifying pressure on Beijing policymakers to find new
ways to support growth.
Shanghai shares .SSEC eased 0.5 percent, though that only unwound a little of Monday's gains. Japan's Nikkei .N225 also fell 0.7 percent as the normal uplift of the weaker yen failed to materialize.
Wall Street was expected to fall again ESc1 when trading resumes with job vacancy data and retail sales figures expected to support signs of a strengthening of the U.S. economy.
Most commodities continued to struggle with the strength of the U.S. dollar. Gold hit a three-month low around $1,160 an ounce while copper futures CMCU3 shed almost 2 percent.
Oil buckled in Europe after a valiant fight overnight. Brent crude LCOc1 fell 70 cents to a two-week low of $57.86 a barrel, while U.S crude CLc1 dropped back below $50 a barrel to $49.60.
Analysts said there was a risk of further falls particularly in Brent. Traders are still holding 'long' positions and the fundamental picture remains soft with little sign of any meaningful drop in production.
Libya is expected to up its exports to more than 2 million barrels of crude from two of its ports this week after disruptions due to fighting involving Islamic militants.
At the same time, global refinery maintenance is about to peak, which once it falls will bring more oil back online.
Shanghai shares .SSEC eased 0.5 percent, though that only unwound a little of Monday's gains. Japan's Nikkei .N225 also fell 0.7 percent as the normal uplift of the weaker yen failed to materialize.
Wall Street was expected to fall again ESc1 when trading resumes with job vacancy data and retail sales figures expected to support signs of a strengthening of the U.S. economy.
Most commodities continued to struggle with the strength of the U.S. dollar. Gold hit a three-month low around $1,160 an ounce while copper futures CMCU3 shed almost 2 percent.
Oil buckled in Europe after a valiant fight overnight. Brent crude LCOc1 fell 70 cents to a two-week low of $57.86 a barrel, while U.S crude CLc1 dropped back below $50 a barrel to $49.60.
Analysts said there was a risk of further falls particularly in Brent. Traders are still holding 'long' positions and the fundamental picture remains soft with little sign of any meaningful drop in production.
Libya is expected to up its exports to more than 2 million barrels of crude from two of its ports this week after disruptions due to fighting involving Islamic militants.
At the same time, global refinery maintenance is about to peak, which once it falls will bring more oil back online.
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