FX.co ★ Dollar Pressured Ahead of Payrolls Report

The dollar index remained steady around 98.3 on Tuesday, staying close to its two-month low as investors anticipated the combined October and November jobs report, which had been postponed due to the government shutdown. Additionally, retail sales data and preliminary manufacturing insights are scheduled for release later today, with the November consumer price index set to be published on Thursday. The forthcoming labor market data is expected to shed new light on employment trends in recent months and may shape expectations for the Federal Reserve's monetary policy in the coming year. Currently, markets reflect a 75.6% likelihood that the Fed will maintain its current rates at the January meeting. Meanwhile, traders are adjusting to diminishing chances of Kevin Hassett succeeding Jerome Powell, following news that President Trump’s advisers favor candidates considered more independent. In other developments, investors are gearing up for a series of policy announcements from other major central banks this week, including the Bank of Japan (BOJ), the Bank of England (BOE), and the European Central Bank (ECB).