By Cornelius Luca
New York, May 4 (BridgeNews) - The greenback was mostly lower within tight ranges ahead of the release of the April U.S. jobs data. The market is bracing for only a small increase of 25,000 non-farm payroll jobs, a rising average hourly earnings to 0.3%, and an increasing unemployment rate of 4.4%. Due to frail job conditions, the Federal Reserve is expected to ease interest rates again at the next policy meeting on May 15.
* * * Traders kept the dollar within Thursday's ranges as the currency's fortunes are hinging on the readings of the U.S. jobs data. The dollar slipped versus the euro, yen and Swiss franc, but edged higher against the pound and Canadian dollar. Volume remained spotty due in part to the Golden Week holidays.
Euro/dollar is mixed after failing Thursday to reach 0.9000. Only a close above 0.9100 would drag the pair outside the current consolidation area.
Dollar/yen is likely to trade between 120.50 and 122.50. The pair might suffer from further long liquidation.
U.S. traders will likely continue to keep both dollar/yen and euro/dollar in two-way trading before the data.
The event agenda also includes a speech by Chicago Fed Bank President Michael Moskow.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 121.39 121.41 -0.02 120.93 121.44
EUR/USD 0.8921 0.8902 0.0019 0.8891 0.8932
EUR/JPY 108.31 108.04 0.27 107.70 108.35
GBP/USD 1.4335 1.4358 -0.0023 1.4340 1.4368
USD/CHF 1.7285 1.7320 -0.0035 1.7275 1.7339
USD/CAD 1.5332 1.5324 0.0008 1.5317 1.5337
AUD/USD 0.5204 0.5184 0.002 0.5150 0.5205
NZD/USD 0.4229 0.4210 0.0019 0.4200 0.4236
SP.1 1254.80 0.50 1250.00 1256.20
ND.1 1882.00 -3.50 1863.00 1895.00