The Uganda shilling ended the day at 3457 on the US dollar, 5039 on the British pound, 3872 on the Euro, 33.86 on the Kenyan shilling and 2513 on the Canadian dollar.
Coffee Arabica closed at $3.13 per kilo.
Coffee Robusta closed at $1.64 per kilo.
Gold closed at $1,155 per ounce after a rise of $17 in one day. This is a pretty aggressive move given how tepid gold has been behaving over the last 6 months. Perhaps it is in the stock indexes.
Oil pulled back by $1.10 ending at $34.36 a barrel. We are approaching the line of resistance so this normal until we break above the resistance. The over all trend is still on the upswing.
Shanghai went up 1.53% and it has crossed into firm positive territory.
Hong Kong – no change.
Tokyo fell 0.85% and its chart formation looks like it might fall a little bit more.
Frankfurt fell more by by 0.44% but seems to be holding out on the most recent big drop and the last low price in October 2015 so it might recover from this point and bounce up if the sellers do not come out of the wood work.
Paris rose 0.04%. This is laughable but it did not follow the trend of the last 3 days of hard dropping.
London rose 1.06%. However, there will be a bit of a struggle for the FTSE to continue rising fully as 3 trading days ago it hit the 50 day moving average line and fell back down from it. So the challenge will be to break above that line before it resumes to go rise.
Toronto ignored the minor pull back in oil and marched on up rising 1.44%. It tried to pierce through the 50 day moving average, fell off of it but too far so if it could just do a Friday run above the blue line, magic would follow. Today’s chart is the TSX just so you can see this line I am referring to.
Dow Jones Industrial Average went up 0.49% and is still very far below the 50 day moving average but hopefully that line will fall down and we meet and go above it.
Standard and Poor barely moved rising 0.15% but it looks beautiful.
NASDAQ tried. It rose 0.12% which is understandable given that it gets its momentum from the Dow and the S&P.
In global news, world leaders have pledged $10 billion to help Syrian refugees.
Saudi Arabia is ready to put boots on the ground in Syria.
Twitter went down for some time and this is where people need to have various ways of communicating and working. You might want to read this article http://www.theinsider.ug/twitter-outages-show-other-options-needed-to-share-information-expert-says/
Martha Leah Nangalama
The writer is an IT analyst for an oil company and has traded stocks, options and 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.