The Uganda shilling closed at 3393 on the US dollar, 4381 on the British pound, 3758 on the Euro, 50.30 on the Rupee, 33.56 on the Kenyan shilling, 2609 on the Canadian dollar, 2548 on the Australian dollar and 1.55 on the Tanzania shilling.
The shilling is barely moving and this can be seen as stability of some sort. If only it could climb through 3375 and we go higher then that would be nice. The main concern I have about it right now is the proximity to 3400 where I had hoped we were not going to touch but should we touch it, expect your dollar to become more expensive. Too bad for the importers. Taxes hitting you while the shilling goes south. At this rate Uganda should be ramping up exports since the importers in the other country will pay less for the same.
Coffee Arabica closed at $3.63 a kilo.
Coffee Robusta closed at $1.97 per kilo.
Gold is trading at $1365 per ounce and rising. This is a live price. So far in 4hrs of North American trading, it has gained $3.3 per ounce. Flight to safety has kicked in big time. In fact all the precious metals have been rising. You can use this link to check for yourself. http://www.tradingeconomics.com/commodities
Oil (Brent Crude) fell $2.46 per barrel closing at $48.19 and crashing through its 200 moving day average (MA) indicating that it is on its way down. I would take out some profits if long and leave half to ride. Shorters have got twinkles in their eyes because it is shaping up to be shorted if not already.
Shanghai is walking gracefully upwards. No hurry but it gained 19 points and keeps building onto that bullish momentum (more buyers than sellers).
Hong Kong gained nothing, lost nothing, crashed hard, then recovered to close with 0 gain or loss. It is upward matching though. The chart looks bullish.
Tokyo lost 106 points it is going to face a tough time before it makes any serious progress upwards. The drop of some 1300 after Brexit left a dent.
Frankfurt gapped down, lost 176 points. Yikes. The thing is there is no support in sight since we are well now under both the 200 and 50 day moving averages.
Paris did the same thing as Frankfurt. It fell 71 points and also has no support in sight. These two indices are doing major damage. Meanwhile, watch this.
London lost 82 points, it is sky high up above all resistance. The $FTSE is flying. To imagine the Britons can kill all the markets and theirs keeps rising. This drop from yesterday is nothing. The chart is a wonder.
Toronto gained 3 points meaning it basically did not move. Usually when oil falls the way it did, the $TSX goes down but it looks like the profit taking on the oil did not affect the TSX.
Dow Jones Industrial Average gained 56 points.
Standard and Poor gained 8 points.
Nasdaq gained 32 points (it is showing a live quote though).
Overall, the North American markets seem to have weathered Brexit better than the EU markets sauf, not as good as London which all started it. Unbelievable. What were they thinking? Anyway the Australian PM does not think Brexit will happen but we are only spectators.
You can check out the World News section on this website. http://www.theinsider.ug/category/world-news/
We also cover Great Lakes Regional news (search by country).
Commodities, Precious metals, etc. http://www.tradingeconomics.com/commodities
Stock markets and stock quotes: http://stockcharts.com/
Symbols I use for market indices are $SSEC, $HKDOW, $NIKK, $DAX, $CAC, $FTSE, $TSX, $INDU, $SPX, $COMPQ
Teach yourself how to read candle stick charts: http://stockcharts.com/school/doku.php?id=chart_school
Martha Leah Nangalama
I have an IT and business background.