Quick Overview

• U.S. Jobless claims were down 20,000 last week to 278,000, signaling a stronger economy than expected.
  
  

• The Bank of Japan on Thursday sent the strongest signal yet of an imminent end to its ultraloose monetary policy, saying it would move quickly when prices recover steadily -- a trend it said was already beginning.
  
  

• Germany's Ifo index, increased from 101.8 to 103.3 in February, the highest reading in 14 years.
  

• The unemployment rate in Brazil climbed from 8.3% to 9.2% in January.
  

• Cotton mill use rose from an annual rate of 5.51 to 6.24 million bales in January.
  
  

• The U.S. Department of Energy said that:
  Supplies of crude oil supplies were up 1.1 million barrels to 326.7 million barrels.
  Supplies of unleaded gasoline were up 100,000 barrels.
  Supplies of heating oil were up 400,000 barrels.
  Supplies of underground natural gas were down 123 billion cubic feet last week to 2.143 trillion cubic feet.
  
  

• The World Gold Council said gold demand totaled 3,754 tons in 2005, up 7% YoY. YoY mine production was up 1% at 2,494 tons. The largest increas in demand came from India, Taiwan, Saudi Arabia, the UAE, and China.