Munster's unbeaten start to the new GUINNESS PRO12 season ended with their 25-22 defeat at Scarlets on Friday.
And with last season's game at Thomond Park finishing 21-20 to the home team, and the reverse fixture being 23-23, Foley is expecting another tough encounter in the first game between two Irish provinces this season.
Foley told Munster's website: "It was a kick of a ball in it last year. They had a kick to win it in Thomond Park and they managed to kick it from out in the touchline to draw it at the Kingspan, so there isn't much between the sides.
"Both sides have their one or two bangs and knocks and fellas returning from international duty.
"It should be a very, very tasty affair in Thomond Park and it will be a game that you need to be at - you need to be live at it because it's going to be a tasty one."
The Munstermen have not lost back-to-back regular season fixtures in the same campaign since April 2013.
Munster have won their last 11 home matches in all tournaments since losing out to Clermont Auvergne in the European Cup in Limerick in December.
Ulster's last seven matches in the GUINNESS PRO12 have all been won by the home side on the day, whilst the Ulstermen's most recent success on the road came when they visited Connacht in April.
Ulster have also won just once in the GUINNESS PRO12 in Limerick since 2009; a 19-17 victory in May 2014.
Munster have made seven changes to their XV on Friday night, as Ireland international Simon Zebo starts on the right wing.
James Cronin, Mike Sherry, Dave Foley and Jack O'Donoghue return to the pack, as scrum-half Tomas O'Leary makes his first start since returning to the province and Francis Saili also comes back in.
The replacements include new signing Mario Sagario and Donnacha Ryan, who was part of Ireland's World Cup squad.
Ulster have recalled Darren Cave and Paddy Jackson to their starting XV and Ireland team-mate Chris Henry is on the bench.
Peter Nelson also returns to the side at full-back and Andy Warwick replaces Callum Black at loosehead prop.
Jackson said: "It is always good to play in the derby games and the inter-pros and it will be a tough battle, especially at Thomond Park.
"We haven't been too good away from home recently so it is time to put that to bed and get a win on the road."
At Thomond Park, 6pm. Live on TG4/BBC Sport NI
Referee: Marius Mitrea (FIR, 42nd competition game)
Assistant Referees: Gary Conway, Nigel Correll (both IRFU)
Citing Commissioner: Eddie Wigglesworth (IRFU)
TMO: Alan Rogan (IRFU)
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