The Institute for Supply Management (ISM) revealed that the US service activity index reading grew during March by the slowest pace since August 2016.

The ISM manufacturing PMI reached 52.5 in March vs. 57.3 in February, but came higher than forecasts of 43 points.

Most US sectors and industries are impacted by the coronavirus pandemic and the full lockdown of most of the country.

The US dollar rose against against a basket of its peers on Friday, to continue its rally for the third day, and hit a 1-week high as investors continued to hoard cash amid the ongoing liquidity crunch, ahead of the US monthly jobs report, as the US economy is expected to lose jobs at the worst pace since the 2009 global financial crisis due to the coronavirus impact. .

The dollar index rose more than 0.6% to the level of 100.78 points, the highest since March 26, and the level of opening trading today at 100.20 points, and recorded the lowest level at 100.14 points.

The dollar index rose 0.6% to the highest since March 26 at 100.78 points, after opening at 100.20 points, and hit today's low at 100.14, while it gained 0.5% yesterday, following the release of weak US jobless claims.

The US department of labor showed jobless claims rose 3.3 million to 6.648 million in past week, the all-time record.

The US dollar index has gained 2.5% so far during this week, to head for the third weekly gain in a month, due to high demand on the greenback amid a liquidity crunch.

Global markets are witnessing broad fears after US warned of higher deaths from the Covid-19 disease in the next couple of weeks.

President Donald Trump stressed on Tuesday the US will face "very, very painful two weeks," adding "this could be a hell of a bad two weeks, this is going to be a very bad two, and maybe three weeks like we’ve never seen before." 

Additionally, the Trump administration expects between 100,000 and 240,000 deaths amid the virus peak during the next week.

Worldwide coronavirus infections surpassed the 1 million cases barrier on Thursday, according to data by Johns Hopkins University, and the death toll rose to over 53,000 victims.

Investors are anticipating the release of key US data later today, as the payrolls report is expected to show the economy has lost 100,000 jobs in March, while average earnings are expected up 0.2%, and the unemployment rate is expected up to 3.8% from five-decade lows at 3.5%. 

Should the data show more severe impact from the coronavirus outbreak, this will trigger a massive sell-off of high-yield assets, led by stocks and bonds, and also will accelerate investors' fears of liquidity shortages, leading to higher demand for the greenback.

Copper futures fell on Friday, weighed down by the dollar's rally against most currencies, and the release of a disappointing monthly jobs report, which sparkred investors' fears about the US economy performance.

The US Department of Labor revealed that the US economy has lost around 701,000 jobs in March, and the unemployment rate jumped to 4.4% in March vs. 3.5% during February.

The dollar index rose 0.4% to 100.6 points as of 13:34 GMT, after it hit a high of 100.8 and a low of 100.1.

Worldwide coronavirus infections surpassed the 1 million cases barrier on Thursday, according to data by Johns Hopkins University, and the death toll rose to over 53,000 victims.

Copper May futures dipped 0.6% to trade at $2.20 per pound as of 13:31 GMT, after hitting an intraday high of $2.23 and a low of $2.19.

Most US stocks opened lower on Friday, after the release of a disappointing monthly jobs report, which sparkred investors' fears about the US economy performance.

The US Department of Labor revealed that the US economy has lost around 701,000 jobs in March, sharply lower than estimates of losing 100,000 jobs.

The unemployment rate jumped to 4.4% in March vs. 3.5% during February.

This showed the extent of the ongoing coronavirus pandemic impact on the US economy.

President Donald Trump stressed on Tuesday the US will face "very, very painful two weeks," due to the coronavirus.

As for stocks, Dow Jones rose 0.2% or 50 points to 21,364 as of 14:11 GMT, while Nasdaq rose 0.1% or 10 points to 7,492, and S&P 500 held at 2,527.