Uganda shilling and global market report May 10, 2016


The Uganda shilling improved today against the currencies of its trading partners.  It closed at 3315 on the US dollar, 4788 on the British pound, 3770 on the Euro, 49.72 on the Rupee, 32.93 on the Kenyan shilling, 2566 on the Canadian dollar and 1.52 on the Tanzanian shilling.

Coffee Arabica closed at $3.22 per kilo.

Coffee Robusta closed at $1.84 per kilo.

Gold is trading at $1266 per ounce and gained $3.70 in the day.  This is nothing for gold because it makes much bigger moves than this.

Oil (Brent Crude) closed at $45.41 after gaining $1.89 per barrel.  The chart would be great but the gain is engulfed in the red candle from yesterday.  Although it could continue upwards due to the support of the lines underneath and the likelihood that we might see some short squeezing for those who rushed to short before it bridged the 3 white candles from the week before last week.



Shanghai did not move at all.  It is still down below all support so it is likely to continue following gravity.

Hong Kong at least gained 1 point.  Absolutely nothing at all.  Likely to continue falling with Shanghai.

Tokyo gained 349 points and stopped just shy of crossing above its 50 day moving average (MA).  It is likely to move up above that resistance line the rest of this week.


Frankfurt gained 65 points and it is moving up slowly.  The candles are tiny but the trend is reversing for upwards.

Paris gained 15 points and did not act as solidly as Frankfurt but it is not one to think will continue falling though.

London gained 42 points but it is going to face a challenge to climb higher because both the 50 and 200 MA are sitting above it and then it has 3 red candles in sequence from last week so this is the other resistance which is even bigger than the MA lines.

North America:

Toronto gained 211 points forming a pattern nearly similar to Oil.  Interesting.  Wait a minute, Ft. MacMurray. Supply and Demand.

Dow Jones Industrial Average gained 222 points and is definitely going up.

Standard and Poor gained 27 points and this is a bull (more buyers than sellers).  These 3 indices had set up a nice shorter’s picture but look at this.  Now they did not fall too hard and this goes back to “do not use money you cannot afford to lose”.

NASDAQ gained 60 points closing at the exact level as its 50 day MA.  The 200 day MA is not too far above so this ne is also on the way up.


Donald Trump says that his ban on Muslims entering the USA, after he becomes president will, will not apply to the London UK mayor.

Dilma Rousseff’s impeachment trial apparently will go ahead because the gentleman who had tried to derail it changed his mind.  Meanwhile Brazil is going through one of the worst recessions in a long time with its debt labeled junk or near junk.

An Afghan group which is fighting ISIS suffered severe casualties today when a suicide bomber detonated and killed 11 people in a remote eastern province.  Some 22 people were also injured.

The Ft. MacMurray fire in Alberta Canada has slowed down and downtown Ft. MaC is not burning anymore but the fire is still going on and apparently will take months to extinguish.

Read more global news at

Martha Leah Nangalama

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