Uganda and global market report – September 28, 2016


The Uganda shilling closed at 3382 on the US dollar, 4403 on the British pound, 3794 on the Euro, 50.96 on the Rupee, 33.40 on the Kenyan shilling, 2588 on the Canadian dollar (sweet), 2602 on the Australian dollar and 1.55 on the Tanzania shilling.

Coffee Arabica closed at $3.76 per kilo.

Coffee Robusta closed at $2.18 per kilo,

Gold is trading at $1323 per ounce and lost $4.

OIL – read the mid week report I shared earlier in the day.  It is bearish.



Shanghai lost 10 points and is in bear territory.

Australia index gained 7 points anad it is bullish.

Tokyo lost 219 points hich is really a none move for the Nikkei.


Frankfurt gained 77 points but it is still bearish.  I would be very careful with the DAX.

Paris gained 34 points but it is still bearish.

London gained 42 points.  The FTSE has been teasing the 50 day moving average keeps closing above it.  It is still in the triple top and looking great as a short (something which I would have done when I was young and stupid).  The fact that the FTSE has not crashed after a double top and a triple top says it is strong.  Depending on your risk tolerance, you can go either way now but I would wait (grown no and not so stupid).

North America:

Toronto shot up by 173 points.  This calls for today’s oil report then.

Brent Crude Oil gained $2.45 per barrel and closed at $48.74 per barrel.  Holly smokes.  Oil did not creep up, it flew up.

WTI Crude oil gained $2.38 per barrel and closed at $47.02.  Okay, I throw in the towel.  Oil is going up.  You wish.  The weekly charts show it going down.  The excitement today because OPEC apparently agreed to reduce production.  Did you bother to read the oil report I shared earlier?  USA and Canada have a lot of dormant rigs and …


The Dow Jones Industrial Average rose by 111 points.

Standard and Poor gained 11 points.

NASDAQ gained 13 points and this one is a solid bull.  The NAS will keep flying as people buy gadgets for Xmas.  This one is not one to short at all.


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Martha Leah Nangalama

Moncton, Canada

Twitter: @mlnangalama

I have an IT and business background and have traded in the past.

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