NEW YORK (Reuters) -Wall Street recovered some lost ground on Monday and benchmark U.S. Treasury yields hit a 3-1/2-year high at the start of an eventful week of corporate earnings, economic data, and an expected interest rate hike from the U.S. Federal Reserve.

The dollar held just below a 20-year high against a basket of currencies on Monday before an expected Federal Reserve rate hike this week, with traders focused on the potential for the U.S. central bank to adopt an even more hawkish tone than expected.

U.S. construction spending barely rose in March as a moderate increase in outlays on private projects was partially offset by a further decline in public spending.

Canadian manufacturing activity expanded at a slower pace in April as the war in Ukraine contributed to pressures on capacity and cost, offsetting continued robust demand, data showed on Monday.

LONDON (Reuters) -Oil prices fell on Monday as concerns over weak economic growth in China, the world's top oil importer, overshadowed fears supply might be crimped by a potential European Union ban on Russian crude.

Analysts at J.P. Morgan downgraded Thailand's equities rating on Monday, citing the slow pace of recovery in the tourism industry due to rising inflation and a surge in COVID-19 cases in China.