Volatile Day For The Dollar

The Dollar experienced some volatility today, based initially on the poor TIC data, or Treasury international capital flows report. The headline net flows number, at $56.6b, was less than December's trade deficit ($65.7b) and much less than November's revised $91.6b. After falling back sharply in the aftermath of the release, the Dollar rebounded and remained firm for the remainder of the session, helped possibly by Ben Bernanke's hawkish comments to Congress.

Look for tomorrow's weekly jobless figures along with the Philly Fed index and housing starts data.