The Uganda shilling closed at 3465 on the US dollar, 4942 on the British pound, 3742 on the Euro, 33.90 on the Kenyan shilling and 2454 on the Canadian dollar. This is interesting. The shilling has not moved much at all this entire week. But then again, Uganda is not an Oil exporter so the currency would not have been affected too much.
Coffee Arabica traded at $2.92 a kilo.
Coffee Robusta traded at $1.58 a kilo.
Gold ended at $1101 an ounce.
Oil – The fall is over. Brent Crude Oil rose again, two days in a row. The only thing that is really beautiful about this is the chart. It shows promise of more recovery. The indicators show it starting to move upwards. However I would not jump in if I were a long term investor and if I were short term I would definitely stay out. This is a very volatile market and only good for those with very low blood pressure. Oil jumped by a whole $2.56 per barrel finishing the day at $32.16.
Shanghai rose up by 1.25% (36 points) ending at 2917.
Hong Kong tried. It went up 2.10% (8 points) ending at 411. Reason I say it tried is because this little gain is nothing compared to the blood red negative candles prior to this day. Perhaps some people got rid of their holdings so they could enjoy their weekend.
Tokyo caught fire. You will not believe this but it shot up 5.88% (941 points) finishing at 16958. Financial buffs might be interested in this link. Imagine Foxconn is trying to buy Sharp. http://www.wsj.com/articles/japan-inc-s-message-to-foreign-firms-keep-out-1453441206
Frankfurt rose 1.99% (191 points) closing at 9765.
Paris rose 3.1% (130 points) closing at 4337.
London rose 2.19% (126 points) closing at 5900.
Toronto made a beautiful move. It was up 2.94% (354 points) ending at 12390. It might be related Prime Minister Justin Trudeau’s speech at Davos. After all Canada is a beautiful country.
Dow Industrial Average rose 1.33% (211 points) finishing at 16094.
S&P (Standard and Poor Large Capital Index) is one of the biggest indicators of the market motion. I will be including it hence forth. In fact the trading on the S&P predict what will happen in USA and Canada (even globally). The S&P rose 2.03% (38 points) finishing at 1907. The weekly chart for the S&P shows that we are definitely going to start rising up. If you look at this chart, you will notice that where it closed this week is an area we have fallen to in the past and bounced up from there. So this is 3 tests in a row and we made it.
Next week will be exciting. Enjoy your weekend.
Martha Leah Nangalama