Dollar steady as investors eye release of US data backlog

Market Reaction to U.S. Tariffs - The market's reaction to President Trump's tariff reversal on over 200 food products was muted, attributed to ongoing cost-of-living issues [1][14] - The U.S. dollar index rose slightly to 99.37, despite a broad selloff in U.S. stocks and bonds last week [6][14] Currency Movements - The Swiss franc remained around a one-month high at 0.7941 per dollar, supported by concerns over recent stock market selloffs [2][14] - The euro decreased by 0.11% to $1.1607, while the Australian dollar fell 0.15% to $0.6527, and the New Zealand dollar dropped 0.12% to $0.5673 [5][14] U.S. Economic Data Expectations - There is heightened market interest in upcoming U.S. economic data releases, particularly the September nonfarm payrolls report, due to a data vacuum lasting over 40 days [4][14] - Current market expectations for a Federal Reserve rate cut next month have decreased to just over 40%, down from over 60% earlier in the month [6][14] UK Economic Concerns - The British pound traded 0.11% lower at $1.3161, influenced by Finance Minister Rachel Reeves' announcement of no plans to raise income tax rates, which raised concerns about fiscal shortfalls [8][14] - Reeves is expected to need to raise tens of billions of pounds to meet fiscal targets in the upcoming November 26 budget, with financial markets viewing income tax increases as a primary solution [9][14] Japanese Economic Data - Japan's economy contracted an annualized 1.8% in the July-September quarter, marking the first decline in six quarters, primarily due to the impact of U.S. tariffs on exports [11][14]