The Uganda shilling today closed at 3366 on the US dollar, 4936 on the British pound, 3767 on the Euro, 50.27 on the Rupee, 33.42 on the Kenyan shilling, 2594 on the Canadian dollar, 2432 on the Australian dollar and 1.54 on the Tanzanian shilling.
Coffee Arabica closed at $3.11 per kilo.
Coffee Robusta closed at $1.85 per kilo.
Nice play on Robustas. Exporters of coffee need to combine both types.
Gold is trending at $1222 per ounce after losing $3.28 per ounce.
Oil (Brent Crude) held up above the next resistance most professionals had set. It gained $0.22 and closed at $50.09 per barrel. Texan Sweet reached that high and dropped under the $50 mark but we only report Brent because that is what Uganda will be supplying.
Shanghai gained 7 points. It is not moving much at all but at least it has stopped going south.
Hong Kong did not move at all. The daily chart pattern shows that the dropping is over and done with.
Tokyo gained 15 points which is nothing for the Nikkei but it closed 2 days in a row above a key resistance (the 50 day Moving Average, MA). How the Nikkei recovered from the last 2 weeks of trading is something. Just look at the chart (end of the article, not the feature image). Big red negative candles, a gap, then basing and then it crashed through its support only to bounce up above it. Wait, Obama is in Tokyo. Interesting.
Frankfurt gained 68 points and is solidly going north.
Paris gained 31 points and is also bullish. It just closed at its key resistance (the 200 day MA) but it will certainly go higher so I would be careful with the this one because at the key resistance, it could pull back but then again while we sleep, it could jump above this line and then the stop sells and stop buys will get triggered. Please refer to this article for how market turbulence can hurt. http://www.theinsider.ug/primer-on-stock-market-turbulence/
London gained 2.8 points and is going north. There is only one issue. If you look at the chart, it has 3 red candles on the left side which will remain resistance until the $FTSE climbs up above them. It has formed a good fight back though as you can see by the most 3 white candles it formed.
Toronto lost 5 points but it had risen so much that we expected profit takers to book some money in. The $TSX is oil heavy and rides the wave but given how far high oil has climbed in the last 2 weeks, it is only reasonable that profit taking sets in. Toronto can tank hundreds of points in a day.
Dow Jones Industrial average lost 23 points. Same thing as Toronto except the Dow is not as oil heavy as Toronto.
Standard and Poor lost nothing and gained nothing. We are in a bull market (more buyers than sellers).
NASDAQ gained 9 points. The NAS is so dependent on the other 3 North American cousins. The NAS is holding its own though. Basically not catching bronchitis because the other ones are not sneezing.
Please check our World News section. We update throughout the day. You might like this one from yesterday. http://www.theinsider.ug/video-coup-that-ousted-brazils-rousseff-now-cripples-economy/
We also cover the Great Region Lakes of Africa under each of their names. For example http://www.theinsider.ug/tear-gas-in-kinshasa-as-police-clash-with-protesters/ OR http://www.theinsider.ug/rights-group-south-sudanese-army-getting-away-with-murder/
Martha Leah Nangalama
The writer has an IT and business background.