Uganda shilling and global market report – July 11, 2016


The Uganda shilling closed at 3373 on the US dollar, 4385 on the British pound, 3730 on the Euro, 50.23 on the Rupee, 33.36 on the Kenyan shilling, 2571 on the Canadian dollar, 2540 on the Australian dollar and 1.54 on the Tanzania shilling.

We broke through the resistance which was at 3375.  This is good news because the next resistance is 3350 and it looks like we will make it.  Support is now at 3400 but one cannot be sure though because of the Geo-Political things which are currently going on.  We will just have to watch closely daily.

Coffee Arabica closed at $3.60 per kilo.

Coffee Robusta closed at $2.00 per kilo.  Nice play on Robusta.  Mix your shipments people.

Gold is trading at 1355 per ounce and lost $10 per ounce.

Oil (Brent Crude) lost $0.48 and closed at $46.07 per barrel.



Shanghai gained 7 points and it is on its way up.  Tiny successive movements but it is overall bullish (more buyers than sellers).  However, it looks like it is going to pull back a little bit this week.

Hong Kong gained 5 points and resumed its upwards trend from last week.

Tokyo gained 602 points but it is a long way from regaining what it lost on #Brexit. It has to burst a move of at least another 700 points in order to rise above the drop from that black Friday.


Frankfurt gained 204 points.  Nice but except that we still have to close that huge from #Brexit.

Paris gained 74 points and it also has a long way to go before it can recover from the #Brexit damage.

London gained 92 points and it is very high compared to where it was before Brexit.  Quite interesting.  I guess the ones who voted for EXIT are very patriotic and have kept the index going or some poor suckers shorted and have been squeezed out of their positions.  Just look at the chart.

North America

Toronto gained 98 points.

Dow Jones gained gained 80 points.

Standard and Poor gained 7 points.

Nasdaq gained 32 points.

North America is solid bullish with no doubt whatsoever.  Hopefully Frankfurt and Paris will get pulled up too.


What a day. A day from hell.

South Sudan has butchered so many people in just a matter of days.  Today alone when Machar’s residence was bombed 100 people died, just like that.  You will remember that last week over night they killed some 185 people and then continued.

In other world news, Theresa May is taking over from David Cameron this Wednesday.  You can read more world news at this link.

Martha Leah Nangalama

Moncton, Canada

The writer has an IT and business background.

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