The Uganda shilling appreciated. Small tiny movements but steady progress on it.
The shilling closed at 3384 on the US dollar, 4382 on the British pound, 3739 on the Euro, 50.39 on the Rupee, 33.45 on the Kenyan shilling, 2595 on the Canadian dollar (sad face), 2561 on the Australian dollar and 1.55 on the Tanzania shilling.
The shilling looks like it will break above 3384. The resistance still seats at 3375. If we break above it, and next week looks ripe, we will likely brush 3350. Now, that is an interesting one because it is a key area which might throw us back a little bit before we move up. The support is now set at 3400, a key level. If we fall below this one, next stop is 3425 then a big one at 3450. Just please do not import used things. It will kill the shilling.
Coffee Arabica closed at$3.55 per kilo.
Coffee Robusta closed at $1.97 per kilo.
Gold is trading at $1366 per ounce and has gained $5 per ounce.
Oil (Brent Crude) bridged a major support level. It crashed through its 200 day moving average (MA) losing $2.72 and closing at $46.51 per barrel. Ouch!
Shanghai lost 29 points. Just a minor pullback but it is on its way up.
Hong Kong did not even wake up. Seems to have turned off the alarm. Zero gain or loss.
Tokyo lost 169 points and it is not much surprise at all. We should collect Mabugo for the Nikkei because it is acting like it is on life support.
Frankfurt gained 211 points but has a long way to go before it regains what it lost after #Brexit.
Paris gained 73 points and the picture is the same as the $DAX (Frankfurt).
London gained 57 points. Oh brother. I feel bad for the people who shorted the $FTSE. Britons probably laughing at how the world crashed while theirs went up, up, and UP! Chart of the day.
Toronto gained 125 points and did not fall like oil. Interesting. However, the numbers came in pretty good and the unemployment rate for Canada fell to 6.8%.
Dow Jones Industrial Average gained 251 points. It is a bull market.
Standard and Poor gained 32 points and it is flying really well.
Nasdaq gained 80 points.
Well well, may we just say that North America faired rather well compared to Europe. The $FTSE just shook out weak hands so we only cry for the $DAX and the $CAC.
The shootings in the US have lead to retaliation and you can read about all this here: http://www.theinsider.ug/category/world-news/
South Sudan was a mess and actually, continues to be. It is a war there. http://www.theinsider.ug/kiir-machar-trapped-as-spla-tanks-siege-presidential-palace/
Uganda had more accidents and it was nasty. Plus of course the army shootings and the criminal subjects causing havoc in the country. http://www.theinsider.ug/category/crime/
Martha Leah Nangalama
The writer has an IT and business background.