The US Dollar and the Financial System

The US dollar is the de facto global reserve currency It's been that way since the Bretton Woods agreement in 1944 when 44 nations agreed to adopt the greenback. Many countries still peg their currencies to the US dollar and commodities like oil They're priced in dollars, but yes China and Saudi Arabia are talking about using the wand to buy and sell oil. The labor market will be back in the spotlight though with the release of the non-farm payrolls report for March on Friday.