Coronavirus fears are prominent


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The number of cases tops 31,000 and with over 600 fatal cases. A ship moored close to Tokyo is the center of attention as more passengers have been tested positive for the respiratory disease. Toyota factories in China will remain closed for longer than anticipated while US and Chinese presidents affirmed their commitment to upholding the Phase One trade deal.

The US dollar has been holding onto its gains as tension mounts ahead of the US jobs report. The greenback is rising on robust US data, and as somewhat receding fears from the coronavirus are pushing US yields higher. EUR/USD and GBP/USD hit new 2020 lows while USD/JPY reached 110.

Non-Farm Payrolls: The economic calendar is pointing to an increase of 160,000 jobs, but realistic expectations are probably higher after robust figures from ADP and ISM earlier this week.

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