January 12, 2016.
The Uganda shilling ended the day a bit lower than yesterday.
The moves might not be looking very significant but the shilling is moving lower every day that passes, in small bits.
Not very aggressive moves to make us panic but lower indeed. It closed at 3440 on the US dollar, 4967 on the British pound, 3734 on the Euro and 33.63 on the Kenyan shilling.
Arabica coffee sits at $3.13 per kilo.
Robusta sits at $1.65 a kilo.
Gold closed at $1089 an ounce.
Brent Oil closed at $30.76 per barrel. Brent oil influences prices of oil but some of you have asked me what the price is for Crude Oil. Well it is not too different. It just closed at $30.56 a barrel.
The Shanghai recovered a bit to the tune of 0.20%. It closed at 3023.
Hong Kong also recovered and dropped some more and closed at 19,7112 with a change of negative 0.89%.
Tokyo finished at WAIT WAIT A MINUTE. Tokyo crashed. It closed at 17,219 after losing 2.71%. [The chart is included].
Frankfurt recovered rather nicely. It went up by 1.63% closing at 9,985. Its chart has some promise but nothing to write home about.
Paris also went up. I am noticing a pattern here. It was 1.53% up closing at 4,379 with the chart looking like Frankfurt.
London UK – Hallelujah! It was up too. Closed at 5,929 having risen 0.89%.
CANADA and USA
Toronto did a beautiful thing. It did not only end up positive but it formed a nice pattern that shows the selling has abated. It closed at 12,374 after a rise of 0.44%.
The Dow Jones did well too. It closed at 16,516 after a 0.72% rise.
The Nasdaq did well too. It closed at 4,686 making the rise 1.03%. The chart on this one looks promising.
The selling is starting to slow down. Most people seem to be back from the holidays and the initial panic wears off but does not mean one should buy now just because prices are low.
When Oil was around $40 I told my friends that it would go down to $35 which it did but was that the price to buy? It has fallen to the $30 area so is this the time to buy?
I would stay out of everything for now if I were not a professional trader or investor (which I am not) but this market is nasty and can turn against you while you sleep. Hold onto your money. Shorters would be making a very big mistake to short this market.
Martha Leah Nangalama