The Uganda shilling closed at 3350 on the US dollar, 4845 on the British pound, 3789 on the Euro, 50.19 on the Rupee, 33.15 on the Kenyan shilling, 2632 on the Canadian dollar, 2488 on the Australian dollar and 1.53 on the Tanzania shilling. Talk about #Steady!
Coffee Arabica closed at $3.54 a kilo.
Coffee Robusta closed at $1.93 a kilo.
Coffee is hoping. The climb in prices over the last 2 weeks is nothing short of fantabulous.
Gold is trending at $1267 per ounce and gained $2.47 per ounce today.
Oil (Brent Crude) lost $0.88 per barrel and finished at $51.84. Well, this fall was expected because of profit takers.
Shanghai is not moving much at all. It lost 9 points and crossed hairs with its 50 day moving average (MA).
Hong Kong did not move but will likely pull back next week. In fact, its chart says it is good for shorting but this would still be a risk. I would remain on the sidelines and watch.
Tokyo lost 163 points but still closed above its support, the 50 day MA.
Frankfurt lost 128 points and it seems to be topping out like it is going to fall.
Paris lost 43 points and it is heading south.
London – well, what was that? The $FTSE lost 70 points but formed a sell pattern. Next week will be interesting.
Toronto lost 73 points and formed a tiny bearish chart but I would not bet on it dropping hard because its trend line still points up.
Dow Jones Industrial Average lost 20 points but this one can shake out weak hands. It has risen so much that profit taking should be taken into account. And not much of it either so the $INDU is likely going to shake out weak people then continue its swing upwards.
Standard and Poor lost 4 points but it is moving up. I would not short the $SPX.
NASDAQ lost 16 points and it will likely wait for the S&P and the DOW to give it direction.
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Martha Leah Nangalama
I have an IT and business background.