Uganda shilling and global market report June 8, 2016


We were interested in watching the shilling today for Uganda after the cabinet hit the news. Then the Uganda budget was released today and the key thing we noticed was debt servicing to the tune of $8.4 for this financial year.  Let us how the global markets reacted.  Thursday and Friday will also be spent on analysing the events of this week.

The Uganda shilling closed at 3342 on the US dollar, 4853 on the British pound, 3811 on the Euro, 50.24 on the Rupee, 33.12 on the Kenyan shilling, 2635 on the Canadian dollar, 2507 on the Australian dollar and 1.53 on the Tanzania shilling.

The stability of the shilling is commendable.  It looks like BoU (Bank of Uganda) is reigning in “irrational exuberance” and keeping taps on inflation.  Mind you, this shilling once dropped to 3800 on the US dollar not less than a year ago but it has recovered wonderfully.  Many thanks go out to Mutebile.

Coffee Arabica closed at $3.78 per kilo.

Coffee Robusta closed at $1.92 per kilo.

Coffee is on the move.  Robusta does not move a lot but holds its place.  Arabica has been stunning in the last 5 days of trading.  Always mix your containers.  Arabica fell to $3.10 a kilo and coffee is shipped in 40ft containers (25 tons) and the killing people have made on Arabica just in the last 2 weeks is amazing.

Gold is trending at WHOA!  What was that?  Gold jumped up by $30 per ounce and now sitting at $1265 per ounce.  This means the global markets may not have had a good day.  Let us how they made out.

Oil (Brent Crude) did a wonder of some sort.  It gained $1.25 and closed at $52.72 per barrel.  Now  this one is worth writing home about.  Toronto should have climbed.  Our chart for today is definitely Brent Crude.



Shanghai still closed at its 50 day Moving Average (MA).  It lost 9 points but all signs are pointing to the North Pole.  The $SSEC is looking like a good buy right about now.

Hong Kong lost 2 points but not worth shorting as it is also acting bullish (more buyers than sellers).

Tokyo gained 155 points.  The Nikkei is not one to jump in if you cannot swim with big fish.  It also indicates that it is going up.  The $NIKK is one of those indices that one can only trade in their dreams because even its chart throw off professionals.  The worst thing about it is it has a mind of its own and does not even follow Shanghai.


Frankfurt lost 71 points but still closed above its 200 MA and it has a big white candle from 2 days ago so this one is not for shorters.  It is a bull.

Paris lost 27 points and is sandwiched between its 50 day and 200 day MA.  Once it breaks above the 200 MA, it will be party time in Paris.  Should it crash under its 50 day MA then we will face some problems.

London gained 17 points defying its cousins.  With all the panic around BREXIT, one would think that the London Bridge would fall.  Au contraire, London is holding up rather well.  Might be because it is the centre in Europe. However, London looks to the NYSE so let us see how North America made out.

North America:

Toronto lost 52 points but its chart is going up.  Call it profit taking.  The $TSX has climbed a lot over the last 2 weeks (thank oil) and it is shaking out weak hands daily.

Dow Jones Industrial Average gained 67 points.  Now this one is a good one.  It shook out weak hands who shorted it and now it is climbing up.  The $INDU must be traded with care.

Standard and Poor gained 7 points.  The $SPX does not move a lot but when it does, pay attention.

NASDAQ gained 13 points and it is also going north.


The Insider covers news 24 by 7 and you can find the global information right here:


When I was hospitalized in Saint John Regional Hospital in Canada, Becky was driven to see me (with her little sister in tow).  “Mom, I just bought the entire set of Harry Porter”.  What?  How much?  “I only paid $475”.  My next question was how she came up with the money.  The kid was 9yrs old.  Reply “remember when you told me to log into your trading account and sell RIMM, I did not sell, I bought it and then realised my mistake and sold it but by then it had jumped from $125 to $145.  So I made you money and rewarded myself”.

If a kid can read charts, so can you.

Learn to read charts.  Candlestick charts were invented in Japan to trade rice.  To this day, all professionals use charts.

Martha Leah Nangalama

Moncton, Uganda

I have an IT and business background and I have traded in the past.

Information you might not like but could use.

PS: Becky is now in the best university in Canada and heading to medical school.  No more charts.


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