Well well, BREXIT poll results are not out yet. They will come out later about 4:00am Uganda time. However, the way the markets are behaving, it looks like the vote will be no Exit. A friend from UK just told us that the counts so far are 42% out and 58% stay.
The Uganda shilling closed at 3358 on the US dollar, 5028 on the British pound (WHOA! Did the shilling just tank against the pound?), 3830 on the Euro (it tanked indeed), 49.89 on the Rupee, 33.28 on the Kenyan shilling, 2632 on the Canadian dollar, 2560 on the Australian dollar and 1.53 on the Tanzania shilling.
Come to think about it, the Uganda shilling only gained on the US dollar but did not do well on the other currencies. In fact, some jokers in Uganda might have bet on the pound dropping. BITE. Welcome to shorting & turbulence.
Coffee Arabica closed at $3.50 per kilo.
Coffee Robusta closed at $1.92 per kilo.
Gold is trending at $1255 per ounce after losing $12 per ounce. This means that the global markets went up.
Oil (Brent Crude) recovered. Interesting. It gained $1.14 per barrel and closed at $51 per barrel even. Kisses.
Shanghai – holly molly, will the $SSEC not move at all? It lost 14 points and is stuck in this no man’s land. Boring.
Hong Kong gained a whole 1 point. Annoying just! The $HKDOW is stuck in this place where we need a move but no!
Tokyo gained 163 points. Not a big move but at least it moved. The $NIKK can shake out even professionals though.
Frankfurt gained 186 points.
Paris gained 86 points.
London – mama mia caramba. London shot up! Fantastic play. Likely all the shorters covering their positions. The $FTSE gained 77 points and it is going to be our daily chart till further notice. It closed up, way above all the red negative candles from the last 2 weeks. London, I love you.
Toronto gained 128 points. Hint: the $TSX is oil heavy.
Dow Jones Industrial Average — wonderful wonderful play. It gained 230 points. The futures had opened really high so it should not be a surprise that North America closed well.
Standard and Poor – Oh lalaala! The $SPX gained 28 points. It is a bull market people. Do not short this market.
NASDAQ flew up 77 points.
Hallelujah praise the heavens. We have been saved (RIP shorters).
The panic and worry over BREXIT likely cost people money but professionals always factor in all possibilities. No worries though because even some of the best cannot predict what will happen. Learn to read candles. It kinda helps to gage if you should jump in or stay on the sidelines.
The Insider covers World News daily. You should check out our World News section. http://www.theinsider.ug/brexit-7-compelling-reasons-why-britain-should-leave-eu/
Martha Leah Nangalama
I have an IT and business background as well as having traded in the past.