Uganda shilling and global market report – July 12, 2016


The Uganda shilling closed at 3370 on the US dollar, 4479 on the British pound, 3729 on the Euro, 33.28 on the Kenyan shilling, 50.23 on the Rupee, 2579 on the Canadian dollar, 2563 on the Australian dollar and 1.53 on the Tanzania shilling.

The shilling is doing pretty good.  Next stop is blasting through 3350 and then up up we go.  Our support is firm at 3375 and if we do not brush it this week, we should be looking at more improvement on this currency.

Coffee Arabica closed at $3.70 per kilo.

Coffee Robusta closed at $2.04 per kilo.

I read recently that Ugandans could all get rich by growing and exporting coffee.  At this rate, all things are possible.  Too bad many of them do not follow the global commodity market prices.  There is cash to be made in coffee.

Gold is trading at $1337 per ounce and has gained $3.30 per ounce.  It has fallen quite a bit but it is because the markets are recovering so there is no need to hurry into the safety of precious metals.  I would keep some though.

Oil (Brent Crude) closed at $48.21 after gaining $2.14 a barrel.  Oil is bouncing back up.  It is a 50/50 toss though.



Shanghai gained 54 points and the chart is a beautiful bull.  The $SSEC is solidly rising.

Hong Kong rose up too and formed a very sweet candle.  It only gained 7 points but the $HKDOW is not an aggressive mover.

Tokyo gapped up and gained 387 points.  Very very close to beating the fall from #Brexit.  One more good day like this and Abe will look pretty handsome.


Frankfurt – well well, it rose up really nicely.  The $DAX gained 131 points and ladies and gentleman we are in recovery mode.

Paris gained 67 points and rose up beautifully like its cousin Frankfurt.  Too bad for all the people who dumped their investments.  The markets really spooked out people.

London – the culprit for all the mess on the global markets is still sitting pretty.  The $FTSE lost a miserly 2 points but it is much higher than it was before the #Brext.

North America:

Toronto gained 120 points.

Dow Jones Industrial Average gained 121 points.

Standard and Poor gained 15 points.

Nasdaq gained 34 points.

The markets are recovering very well. In fact the ones which got smashed up were the Europeans minus London.  The shock is over and we can all now jump in, one foot at a time.  Remember the Geo-Political issues.  NATO mobilizing against Russia.


South Sudan dominated the news today again.  Embassies are evacuating their people most of it Wed, July 13, 2013. So far we know Japan, Germany and UK are doing it.  Uganda sent 30 military trucks to evacuate Ugandans by road.

Two trains collided head on in Italy and the death toll was in the dozens.

President Yoweri Kaguta Museveni pulled off the road and made a phone call.  It has since gone viral with various versions of it.  There are many versions of it.  This is one is cleaner.

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Martha Leah Nangalama

Moncton, Canada

The writer has an IT and Business background


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