Friday February 17, 2006 - 07:15:13 GMT
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Tricom Futures and Foreign Exchange -
Forex: The USD ends the week stronger.
The dollar stayed well bid after a raft of strong US data underlined the need for more US interest rate hikes in the coming months
The US property market looked set for a bumper year with housing starts much stronger than expected in January while rises in jobless claims remained low enough to suggest strong job creation. At the same time, import prices also rose faster than expected, driven once again by higher fuel costs. Non-fuel prices were also higher
Taken together the data, all released this afternoon, signal that US interest rates will have to rise further -- in keeping with new Fed chief Ben Bernanke's pronouncements yesterday.
Looking for a quiet end to a whippy week of trading. The USD ends the week on a positive note, while the Yen appears set for further gains next week, following the better than expected GDP data today.
Today's Economic Release:
US: Prelim. Michigan Consumer Sentiment
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