forex factor

The foreign exchange fluctuations of the Australian dollar versus the USD should have no impact whatsoever on the daily price of SSN in Australia. This is because all of Samson's activities and earnings are in the US and are USD denominated. (Remember too that the price of oil and gas is USD denominated as well and that's what Samson produces.) If you accept this hypothesis, then any rise in the price of SSN on the NASDAQ must be FUNDAMENTALS driven. That is, the buyers think the share is good value for reasons that have nothing to do with Forex as far as we in Australia are concerned. The proof of the pudding will be seen on Monday as reflected in the ASX share price for SSN. If SSN went up 6% in the US on Friday, I'd say it will go up around 6% in Oz on Monday. Don't have my calculator but that should put it around 6.7 to 6.8 cents on Monday. Fingers crossed. DYOR. Happy Valley.