Monday, August 6, 2012

A Quick Glance at News (06/08/2012) FOREX UPDATE

Asian shares rallied to a three-month high and the euro touched a one-month peak against the dollar on Monday, as stronger-than-expected U.S. jobs data and emerging optimism for European action on the debt crisis sharpened investor appetite for risk.
Brent crude dropped toward $108 a barrel on Monday as a recent surge in prices gave some investors a chance to sell their holdings for profit, while more data was eyed for clues on the health of the global economy and the outlook for oil demand.
The euro hit a one-month high against the dollar on Monday as traders unwound bearish bets on the single currency after stronger-than-expected U.S. jobs data last week improved investors' appetite for risk.
Shares in Samsung Electronics rebounded on Monday, rising more than 4 percent in a market lifted by stronger-than-expected U.S. jobs data and optimism about further easing by the European Central Bank.
Investors will be looking to a data deluge from China this week to give the global economy a further lift after Friday's strong U.S. jobs report. They risk being disappointed.
Saudi Arabian Oil Co., the world’s largest crude exporter, cut the premium used in determining official selling prices for its Light, Medium and Heavy grades to customers in Asiafor September shipments while raising the premium for Light crude to customers in the U.S.
Gold inched higher on Monday, extending gains from the previous session after better-than-expected U.S. employment data lent support to risk appetite, weighing on the dollar.
Australian inflation reached 0.2% in July from the previous month, according to the TD Securities - Melbourne Institute monthly survey. In June, the survey showed a 0.2% monthly drop. On an annual basis, the gauge rose 1.5%, compared to a 1.6% increase in June.
Fraser and Neave Ltd (FRNM.SI) shares jumped to a record on speculation that a break-up of the Singapore conglomerate will unlock more value after its board accepted Heineken's $4 billion offer for its stake in Asia Pacific Breweries.
Face book Inc. (FB) climbed the most in seven weeks after Brian Wieser, an analyst at Pivotal Research Group, said the world’s largest social-networking website could step up revenue growth with ad sales.
Shares of professional networking website LinkedIn Corp and broadcaster CBS Corp shot up after both companies delivered better-than-expected results.
Kraft Foods, which Thursday set Oct. 1 as the date it will split its snacks and grocery units, reported second-quarter profit rose 5% from the same 2011 period.
American International Group, Inc. reported after the close Thursday a second-quarter profit of $2.3 billion, or $1.33 a share, up from $1.8 billion, or $1.00 a share, a year ago.

 Asad Khan
Financial Analyst  (CFB)