The Uganda shilling closed at 3358 on the US dollar, 4687 on the British pound, 3701 on the Euro, 33 on the Kenyan shilling and 2479 on the Canadian dollar.
The shilling is being stable and you can ignore the fact that a year ago it was 2500 on the US dollar. Let the past be by gones!
Coffee Arabica closed at $3 even per kilo.
Coffee Robusta closed at $1.58 per kilo.
Generally Arabica leads and Robusta tends to fall a bit more than Arabic. Uganda exports a lot of coffee so these prices need to be watched.
Gold closed at $1235 per ounce having gained $5 per ounce. We still do not see major flight into gold given the minor pull back on the stocks. We can only hope that it is only profit takers in the stocks who are betting on gold.
Oil moved up beautifully and closed above its 50 day moving average. Brent crude oil closed at $35.57 a barrel. All indicators say it is going up. Hallelujah!
Shanghai – wait, was there a natural disaster over there? The $SSEC fell very hard losing 188 points. This is disheartening because everything is made in China. The chart is the thing that heart attacks are made of.
Hong Kong – oh well. Same pattern as Shanghai. The $HKDOW formed a negative pattern like Shanghai. God have mercy.
Tokyo tried. The $NIKK gained 224 points. Remember that this is the stock index that can gain 900 points and lose the same given the direction of the wind. The chart is not sure in one way or the other. It could go up or go down. Please Shanghai, talk to us.
Frankfurt gained 164 points but today’s candle was wrapped up in the big red negative candle from yesterday. The $DAX is going down.
Paris defied Frankfurt and gained 93 points but it is still sitting well below under its 50 day moving average so I would not bet on it going up. The resistance is way above the current level of the $CAC and there is no support in sight.
London – what a play! The $FTSE defied yesterday’s closing and shot right up closing way above the 50 day moving average. Chart of the day. I love London.
Toronto is putting a smile on my face. The $TSX closed above the 50 day moving average. Beautiful chart.
Dow Jones Industrial Average gained 212 points forming the same chart pattern as Toronto.
Standard and Poor gained 22 points forming the same pattern as Toronto and Dow. Who cares about those Europeans anyway? We move on our own rhythm. The $SPX is acting very well. Someone give it a cookie and milk.
NASDAQ gained 40 points. The chart still looks not very good. But then again, if Dow, S&P and Toronto keep rising above their 50 day moving averages, the $COMPQ has hope. Hey, buy gadgets for your mother and we can push this thing up above its 50 day moving average.
Ugandans are still very depressed and angry due to the recent elections.
Many countries are watching Uganda and the outcome of our recent elections. Things are not easy.
Russia, Iran, Saudi Arabia, Turkey are involved in some kid of killing missions in Syria and Saudi in Yemen.
EU had a meeting to put an arms embargo on Saudi Arabia. Apparently Saudi Arabia is killing civilians in some places.
Cameron is facing a tough fight to keep Britain in the EU. Sorry brother, some of us are dying with money that you give our killers.
Martha Leah Nangalama
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