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Dollar’s dominant reserve currency status to endure, says Morgan Stanley

U.S. Dollar banknote is seen in this illustration taken July 17, 2022. LONDON, April 18 (Reuters) - The U.S. dollar's dominant reserve currency status is likely to endure partly because even the most talked about alternative the Chinese yuan falls short as a credible challenger, Morgan Stanley said in a report on Thursday.   Rivalry [...] READ MORE

US labor market stays resilient; housing regresses on higher mortgage rates

A "Help Wanted" sign sits in the window of a shop in Harvard Square in Cambridge, Massachusetts, U.S., February 11, 2019. Summary Weekly jobless claims unchanged at 212,000 Continuing claims rise 2,000 to 1.812 million Existing home sales drop 4.3% in March WASHINGTON, April 18 (Reuters) - The number of Americans filing new claims for [...] READ MORE

US to reimpose oil sanctions on Venezuela over election concerns

WASHINGTON/HOUSTON, April 17 (Reuters) - The Biden administration said it would not renew a license set to expire early on Thursday that had broadly eased Venezuela oil sanctions, moving to reimpose punitive measures in response to President Nicolas Maduro's failure to meet his election commitments.   Just hours before the deadline, the U.S. Treasury Department [...] READ MORE

Gold Declines as Traders Consider Odds for Later Fed Rate Cuts

(Bloomberg) -- Gold declined as traders assessed the Federal Reserve’s indication that it will likely keep rates on hold for longer than originally planned.   Most Read from Bloomberg   Dubai Grinds to Standstill as Cloud Seeding Worsens Flooding   Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs   Tesla Asks Investors [...] READ MORE

Hard Money Heat Check

There are few things I like more about NBA basketball than when a player gets so hot that it seems as though they can't miss a shot, no matter where they are shooting from. The legendary video game NBA Jam captured this beautifully, for those that remember. A “heat check” is when a hot player [...] READ MORE

China’s gold markets under strain

China’s gold markets under strain as horde of new buyers hunts for stable investment.   April has been a busy month for the Hualin International Jewelry Market in Guangzhou. A scrum of eager buyers has descended upon the venue, looking to join a new gold rush as prices soar and the precious metal takes on [...] READ MORE

Risk of a global recession is minimal, IMF economist says — would take ‘a lot to derail’

The risk of a global recession is “fairly minimal,” Pierre-Olivier Gourinchas, the International Monetary Fund’s economic counsellor, told CNBC. Good news include strong economic performance by the U.S. and several emerging market economies, along with inflation falling faster than expected until recently, despite weaker growth in Europe. However, threats to economic growth remain from escalating [...] READ MORE

Nine people facing charges over ‘largest gold heist in Canadian history’

Nine people are facing charges over what authorities are calling the biggest gold theft in Canadian history from Toronto’s Pearson International Airport a year ago.   Peel Regional Police said that 6,600 gold bars worth more than 20 million Canadian dollars (£11.6 million) and 2.5 million (£1.4 million) in foreign currencies were stolen and the [...] READ MORE

Biden-Harris Administration Releases First Set of Draft Rules to Provide Debt Relief to Millions of Borrowers

The Biden-Harris Administration today released its first set of draft rules that propose to provide student debt relief for tens of millions of borrowers across the country. These plans were announced last week by President Biden in Madison, Wisconsin. If implemented as proposed, these plans, and others announced by the President, would bring the total [...] READ MORE