The dollar is ticking down

The dollar is starting out the week slightly lower.

The US dollar index is down by 0.2% at 98.55 as of 7:40 a.m. ET.

"The pullback is modest," noted Marc Chandler, the global head of currency strategy at Brown Brothers Harriman. But "the dollar is lower against most major and emerging market currencies."

As for the rest of the world, here's the scoreboard as of 7:41 a.m. ET:

• The euro is up by 0.1% at 1.0896 against the dollar after Markit's flash composite PMI figure for the eurozone came in at 53.7 in October, up from September's 52.6. Germany powered the region as its composite print came in at 55.1, up from September's 52.8.
• The Japanese yen is down by 0.2% at 103.97 per dollar after data from Japan's Ministry of Finance showed a trade surplus of 498.3 billion yen in September, an improvement from the 18.7 billion yen deficit seen in August, as the value of its exports fell at a slower pace.
• The Russian ruble is up by 0.2% at 62.2386 per dollar. Meanwhile, Brent crude oil, the international benchmark, is down by 0.7% at $51.42 per barrel.
• The British pound is little changed at 1.2241 against the dollar.