Feb. 3, 2016 currency and global market report


The Uganda shilling closed at 3459 on the US dollar, 5047 on the British pound, 3833 on the Euro, 34 on the Kenyan shilling and 2509 on the Canadian dollar.

Coffee Arabica ended at $3.08 per kilo.

Coffee Robusta closed at $1.63 a kilo.

Gold is trending at $1,138.49.  It went up by a whole $11 per ounce over night.

Oil laughed at the last 2 days of falling and went up 9.01% closing at $35.46 a barrel.  Remember I use Brent Crude. The chart for oil looks nice except that we are approaching the moving average just up above so it will be resistance and we will likely bounce down from it so beware. Resistance is at $36.83.  If we close above it, we will fly.  We will likely break through it because the momentum seems to be on the upside.  Iran should just stay out of our way.



Shanghai could not make up its mind but fell only 0.38%.  The chart looks good.

Hong Kong  – something about this one.  It opened okay, fell hard then closed back at the same price as yesterday. Zero change.  I am starting to wonder if it is even trading for real these days.

Tokyo was too good to be last.  It had risen so much the last 5 trading days today it took a break.  It dropped 3.15% (559 points).  Ouch!  I feel bad for the people who fell for the Pump and Dump.


Frankfurt is going down.  It fell 1.53% and the chart is curving downwards.

Paris fell 1.33%.  This time I will not say it is because of profit takers.  It also shows are resumption of the downtrend.

London did the same thing.  It fell 1.43% and the chart is heading into bear territory (a seller’s market).

North America:

Toronto – I love you Toronto.  Not so fast though.  The TSX is oil heavy and oil went up so bingo.  It rose 1.21%.

Dow Jones Industrial Average rose 1.31%.  Remember there are commodities on this one too so the prices of commodities go up, we are laughing.

Standard and Poor did not rise much (only 0.50%) but it put in a hammer.  Chart included.  That little hammer signals that the selling is running out and the buying is going to take over.  The beauty of this is it put in a hammer last week too.

NASDAQ fell 0.28% but also put in a hammer so it is not worrying at all.

What is going on in Asia is up in the air.  What is going on in Europe is a lot more selling than buying.  North America on the other hand is defying the odds and saying, we are the ones who are going to get this party started.

In the news, UN has suspended the Syrian talks amid increased fighting.

Martha Leah Nangalama

Moncton, Canada

The writer is an IT analyst for an oil company and has traded stocks / options / forex in the past.

All my opinions are mine and mine alone.  They do not reflect on my employer or any organisation I am affiliated with.



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