The Uganda shilling closed at 3472 on the US dollar, 5007 on the British pound, 3793 on the Euro, 34 on the Kenyan shilling and 2473 on the Canadian dollar. The shilling is stabilizing and not showing any wild violent moves so this is pretty good for importers to work their budgets in for month end payments.
Coffee Arabica ended up at $3.01 a kilo.
Coffee Robusta finished at $1.61 a kilo.
Gold is at $1129 per ounce.
Oil got hit with profit taking. Those who read this daily know that I had warned about profit taking. The volume was not terribly worrying though. I thought yesterday’s drop was not worth worrying about. However today’s chart looks like the pull back of $1.55 today closing at $32.53 a barrel might be a continuation of yet more selling to follow. The problem is there is no support on the fall and yet a lot of resistance on the rise. Damn profit takers, always jumping in to ruin a good party.
Shanghai finally saw the light. It went up by 2.26% and I believe it is going to pull up whoever was a doubting Thomas. The chart is nice.
Hong Kong – is this Index still even trading? Recently daily, no change. This makes no sense but hey, China made everything.
Tokyo went down by 0.64% and yet on its chart it looks awesome. Profit taking strikes again.
Frankfurt dropped by 1.81%. It looks ugly. Not so fast though, it still has some support under the drop.
Paris dropped 2.47%. Okay Europe, you are ruining our honey moon here. Get serious.
London dropped 2.28%. The volume with this drop is a bit worrying but we are only on day 2 of trading this week so we will keep an eye and see how things shape up. It is almost like there is no confidence in the markets because usually profit takers do not dampen these many stock market indices that hard.
Toronto needs to get a life. The TSX is so heavily weighed with commodities (oil) anytime oil sneezes the TSX gets full blown pneumonia. It fell by 1.83%.
Dow Jones Industrial Average acted like it is haloween and since everyone is wearing a dark costume, why not me? It fell 1.80%!
Standard and Poor fell by 1.87% and naturally sets the momentum for all the others. However, it is not looking so bad and you can see from the chart that it will bounce up and pull the other ones up. Unless China decides to do something not obvious at the moment like devalue their currency for a third time this year. China is unpredictable so we have to pay attention to them. OR, did you know that China lifted the one child policy? You can read more about it here: https://www.washingtonpost.com/world/asia_pacific/china-lifts-one-child-policy-amid-worries-of-graying-population/2015/10/29/207fc0e6-7e2b-11e5-beba-927fd8634498_story.html
NASDAQ – if this one did not fall, one would have asked what happened. It fell 2.24% and naturally as soon as the S&P and DOW recover, it will ride that wave.
Google is now known as the world’s most valuable company – FYI. Love Google.
Hillary won Iowa.
ISIL is giving $4,000 cash to African recruits – RIP.
Martha Leah Nangalama
The writer is an IT analyst for an oil company and has experience trading stocks, options and forex.
All my opinions are mine and mine alone. They do not reflect on my employer or any organisation I am affiliated with.