Most Asian currencies advanced on Tuesday with the Chinese yuan supported by Beijing announcing more stimulus measures, while the Australian dollar rose in anticipation of hawkish signals from the Reserve Bank.

Oil prices rose slightly in Asian trade on Tuesday, although a recent rebound appeared to have run dry amid a series of mixed readings on business activity from across the globe.

The euro dropped against the dollar on Monday as business activity reports for the euro zone economy disappointed, briefly extending declines after U.S. data showed activity there held steady, and ahead of a flurry of Federal Reserve speakers this week.

Tesla's (NASDAQ:TSLA) third-quarter electric vehicle deliveries are tipped to jump by 8% versus the year-ago period to roughly 470,000 units, according to analysts at Barclays.

D.A. Davidson analysts downgraded Microsoft (NASDAQ:MSFT) on Monday from a Buy to a Neutral rating, while maintaining a $475 price target.

The U.S. dollar rose Monday, climbing away from the one-year low seen last week, while disappointing economic activity data weighed on the euro.