The Ugandan shilling closed at 3428 on the US dollar, 4938 on the British pound, 3815 on the Euro, 33.67 on the Kenyan shilling and 2490 on the Canadian dollar.
Coffee Arabica closed at $2.97 per kilo.
Coffee Robusta closed at $1.65 a kilo.
Gold closed at $1226 after droping $7.83 per ounce.
Brent crude oil fell 2.76% ($0.94) per barrel finishing at $33.08. This chart is interesting. Yesterday oil had attempted to rise above the 50 day moving average (the blue line on the chart) and it had backed off so today it resumed its fall. Imagine Iran has not put out their 500,000 to 1,000,000 barrels per day onto the markets. The symbol is $brent if you use the website I use.
Shanghai fell only 3 points. This is very minor as the chart shows that it will resume the rise for a while until it hits the 50 day moving average line which so far is still way above where it is trading.
Hong Kong gained one point. The chart looks like it will continue up until it hits its resistance at the 50 day moving average. The symbol is $HKDOW.
Tokyo fell 230 points but it is very small for the index since it has a tendency to move 500 – 900+ points in one direction or the other. It is not the rise or fall. It is the chart formation. $NIKK is recovering, albeit slowly.
Frankfurt fell 76 points. The $DAX chart still shows promise. Such minor falls are usually due to people taking out some profits.
Paris fell 17 points. The $CAC tends to react to what Frankfurt and London do. Nothing to worry about here.
London lost 21 points. Fell under the 50 day moving average but then closed above that nice blue line. The $FTSE shows great promise as it is only one of the three that has pierced that 50 day moving average and now remaining above it.
Toronto lost 118 points. Oh Toronto, you are amazing. The fall is still way above the 50 day moving average and this is beautiful. The $TSX follows oil a lot and its chart pattern tends to follow the one for oil.
Dow Jones Industrial Average pulled back losing 21 points but nothing to worry about for now as it is on a solid positive path until it hits its 50 day moving average which is still above the current trading levels. The $INDU is a whole more mixture of companies but oil does affect it too.
Standard and Poor – the $SPX formed the same chart pattern as the Dow and it is a good one too. The $SPX will also rise till it hits its 50 day moving average which is just a short distance above the current level.
NASDAQ gained 17 points. The chart for the $COMPQ is an interesting one. It has had some positive little jumps and seems to be holding it together till the big brothers (DOW and S&P) sneeze. Hopefully winter flus are nearly over. Its 50 day moving average is still sitting above the current trading level but if the other big ones move up aggressively, you can be sure that the NAS will sprint.
The elections in Uganda have kept me extremely busy so I have mostly been keeping an eye on articles and news about these elections. Uganda is heading into a possibly dark era. We only pray and hope that everyone from the government and the opposition will keep the peace. In case you did not know, Uganda has about 10 million people who have insufficient food and the same number of unemployed people under the age of 35yrs. We beg all Ugandans to work with the government which will be sworn in so that we can solve the problems which matter to the population.
Martha Leah Nangalama