The US manufacturing and services sectors slowed down this month due to the impact of the coronavirus, especially the services sector, which accounts for about two thirds of the US total GDP.

IHS Markit revealed today that the services PMI contracted to 39.1 points in March, its lowest reading on record, and the largest monthly drop since October 2009, vs. February's reading of 49.4 points.

The manufacturing PMI fell to the lowest level in more than ten years at 49.2 points during March.

Oil prices rose on Tuesday, amid anticipation for the US Congress vote on the stimulus aid package, and ahead of the US crude inventories data.

The US Congress will vote later on a $2 trillion stimulus aid package to support all US companies and families to counter the coronavirus.

The American Petroleum Institute will release later today its preliminary data on US crude inventories, while the Energy Information Administration will reveal its official report tomorrow.

The dollar index fell 0.6% to trade at 102.03 points as of 15:32 GMT, after hitting a high of 102.2 and a low of 101.05.

As of 15:25 GMT, WTI crude rose by 0.8% to $23.5 a barrel, with an intraday high of $25.1 and a low of $23.1.

Brent rose 1.5% to $27.4 a barrel, after it hit a high of $28.6 and a low of $27.1.

Gold futures soared Tuesday, lifted by strong demand for precious metals as the dollar tumbeld against most major currencies, despite growing hopes about the US huge stimulus package.

The US Congress is preparing to vote on a $2 trillion stimulus aid package to support all US companies and families to counter the coronavirus.

Data showed today that the US services PMI contracted to its all-time low of 39.1 points during March, and the manufacturing PMI contracted to 49.2 points.

The dollar index fell 0.4% to trade at 102.03 points as of 18:34 GMT, after hitting a high of 102.2 and a low of 101.05.

Gold April futures jumped 6% or $93.2 to settle at $1,660.8 an ounce, the largest daily gain in dollars since November 1984, and the largest in percentage since March 2009.

The US dollar fell against most of its major counterparts on Tuesday,as investors shifted to stocks and industrial metals. 

The market is closely anticipating the US Congress vote on the $2 trillion stimulus aid package the US Senate failed to pass it yesterday.

However, Republican and Democratic leaders in the US Congress have signaled a close agreement between the two sides.

The Trump administration has proposed the package to provide support to US companies to ease the impact of the coronavirus pandemic, including sending funds to directly to citizens.

Data showed today that the US services PMI contracted to its all-time low of 39.1 points during March, and the manufacturing PMI contracted to 49.2 points.

The dollar index fell 0.4% to trade at 102.03 points as of 18:27 GMT, after hitting a high of 102.2 and a low of 101.05.