Here is what you need to know on Friday, March 6:

Thesoggy mood in marketscontinues as the US admitted it performed only around 500 coronavirus tests and as thousands in New York City have self-quarantined. President Donald Trump has belated acknowledged the disease may have an impact on the economy while the Senate advanced a $8.3 billion bill to combat the illness.

The number of cases continues rising in South Korea, which is conducting millions of tests, and also in other countries. The total number of cases near 100,000, around 50,000 recovered, and 3,300 have died. Italys mortalities have reached 148 while German cases hit 400. In the US, statistics stand at 177 infections and 11 deaths.

Gold is shining, hitting $1,680 and near the seven-year highs of $1,689. The safe-haven Japanese yen is under demand, sending USD/JPY to below 106, the lowest since September 2019. Goldman Sachs says it could fall to 95.

Thedollar is tumbling alongside US bond yieldswith returns on benchmark ten-year treasuries hitting 0.80%.John Williams, President of the New York branch of the Federal Reserve, has said that the bank is ready to make more adjustments. The Fed is projected to reduce borrowing costs in its planned meeting on March 18 after cutting them in a surprise meeting earlier this week.

EUR/USDis trading near 1.1250, the highest in seven months, despite expectations for the European Central Bank to ease its policy next week.

GBP/USDs gainsare more limited after Michel Barnier, Chief EU Negotiator, stressed that it will be hard to reach a post-Brexit agreement on time with the UK.

USNon-Farm Payrollsfor February stand out on the calendar. America is projected to report a satisfactory increase of 175,000 jobs and yearly wage growth is forecast to decelerate from 3.1% to 3%. The decision could impact the upcoming Fed decision.

US Non-Farm Payrolls February Preview: The first facts

Non-Farm Payrolls: Greenback comeback or cementing a second double Fed cut? Three scenarios

USD/CADis trading around 1.34 after the Bank of Canada also decreased the interest rate by 50bp earlier this year. Stephen Poloz, Governor of the BOC, said that there is close cooperation between central bankers all over the world. He added that some CBs have more room to act than others. Canada also publishes its employment statistics today, with modest gains on the cards.

SeeCanadian Jobs Preview: Lonely loonie needs robust figures to stay afloat, three scenarios

Oil pricesremain under pressure despite a commitment by OPEC countries to cut output by 1.5 million barrels per day. The growing fears of the impact of the virus and Russias reluctance to play along keep the pressure on crude.

Cryptocurrencieshave been extending their gains with Bitcoin trading above $9.100.

SeeGold may top $2,000, stock crash potential, EUR/USD uptrend, and more Interview with Joel Kruger

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Access to real-time signals, community and guidance now!

The corrective slide in the EUR/USD pair from a new eight-month high of 1.1356 lost legs near 1.1290 region, as the bulls now consolidate the upside around 1.1300, looking to close a dramatic week with a 2.35% gain.

GBP/USD is extending the retreat from a two-week high of 1.3049 even as the US dollar remains pressured across the board amid the coronavirus crisis. The pounds gains are limited amid acrimony in Brexit talks.

The price ofgoldfell from its daily peak of $1,690.04 after the Non-Farm Payroll data earlier in the session.Now it seems the price found some support at the 38.2%Fibonacciretracement.

Oil prices eroded nearly 10% intraday to close the week at $41.28,the lowest since August 2016, as the OPEC+ failed to agree production cuts.The meeting came in the wake of the coronavirus crisis.

FXStreet Signalsoffers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membershipto the companys Telegram group, where users get direct guidanceby ouranalysts and get room to discuss and interact.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.