The Uganda shilling closed at 3375 on the US dollar which was the previous support and will be heading towards 3400, the next support level. It closed at 4435 on the British pound, 3709 on the Euro, 50.15 on the Rupee, 33.33 on the Kenyan shilling, 2561 on the Canadian dollar, 2534 on the Australian dollar and 1.54 on the Tanzania shilling.
Coffee Arabica closed at$3.53 per kilo.
Coffee Robusta closed at $1.97 per kilo.
Gold is trading at $1318 per ounce after having lost only about a dollar. It is in a very tight range but the fact that it is not rising anymore means that the markets will be fine.
Oil (Brent crude) was unchanged and is sitting at $44.58 a barrel with the chart showing that there is likely to be some more dropping.
Shanghai went up by 34 points and it is bullish (more buyers than sellers).
Hong Kong gained 5 points and has nice chart for being a bull market.
Tokyo fell by 237 points and will likely fall one more day before it bounces off its 50 day moving average (MA) which is not far south though.
Frankfurt gained 50 points defying the terrorist attacks. Never to be cowed into panic. Well done.
Paris gained 7 points also defying the terrorist attacks and more so given that the attack in Rouen (about 2hrs drive east of Paris) happened just before the European markets opened. Hang in there Europe. Putin and Obama are gonna smoke those terrorists out for you. Although, Hollande is not amused and Merkel is an iron lady.
London gained 14 points and looks tired. Expect some pull back from around this point and for those who love shorting, be careful. You would be going against the tide.
Toronto gained 52 points and the candle is a small one but lately the TSX is moving within a tight range likely for consolidation before it continues to go up. This is a strange summer. The indices are active a lot as if not many professionals took the summer off.
Dow Industrial Average lost 19 points and it is curving down. This would be a good time to take some money off the table. The bold ones could actually short around about this time but do not take your eyes off the ticker.
Standard and Poor gained 1 point and it is nothing to write home about. Pure consolidation on pretty good volume too.
Nasdaq gained 12 points and is very bullish too. This is not a shorter’s market. The risk just cannot justify the gains.
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Martha Leah Nangalama
The writer has an IT and Business background. Check out the other articles in the Business section.