CREDIT SUISSE: Dollar Pullback May Continue

The main economic data in the US today is the trade balance, with the deficit seen increasing to $41.5B in April). But trade figures rarely move markets, and investors are more focused on this Friday's key report on nonfarm payrolls. The dollar is back above Y100 after briefly dipping below the threshold following yesterday's weak ISM report. Credit Suisse strategists expect the jobs report to fall short of expectations, putting more pressure on the dollar to slip lower as traders pare back their expectations for Fed tapering. "We think the USD correction could gain traction in coming days," CS notes. Dollar is at Y100.24 from Y99.53, according to EBS via CQG.

(matthew.walter@dowjones.com; @mbwalter4)