Uganda shilling and global market report May 9,2016


The Uganda shilling closed at 3327 on the US dollar, 4794 on the British pound, 3787 on the Euro, 49.84 on the Rupee, 33 on the Kenyan shilling, 2567 on the Canadian dollar and 1.52 on the Tanzanian shilling.

Coffee Arabica closed at $3.17 per kilo.

Coffee Robusta closed at $1.85 per kilo.

Gold is trading at $1265 per ounce after losing $23 per ounce today.

Oil (Brent Crude) lost $1.77 per barrel closing at $43.52.  On today’s daily chart, it put in a long red candle indicating that it is going to crash down through its support this week.  Although it does still have support of 3 white candles from the week before last week so that could hold it up.



Shanghai – ouch.  It fell by 81 points but it is the chart pattern which is scary.  This will be our chart of the day.

Hong Kong gained one point  but still on its way down too.

Tokyo gained 109 points but it is way under its 50 day moving average (MA) and no where near bouncing up.


Frankfurt gained 111 points and it looks like it is going to resume its upward march.  Only thing is it has a series of red candles from last week that it has to battle on its way up.

Paris gained 21 points but I think it will take the cue from Frankfurt before it puts in a solid performance positive or negative.

London tried to recover quite well being even on the positive side at some point but then got pushed down towards end of the day and lost 11 points.

North America:

Toronto lost 138 points but this comes with the territory whenever oil falls.

Dow Jones Industrial Average lost 35 points but it looks like it is recovering and will not fall too much more this week.

Standard and Poor gained 2 points indicating that North America is likely going to recover this week from last week’s falling.

NASDAQ gained 14 points and its chart also looks like it is going to recover.


The Ft. MacMurray fire in Alberta Canada has burned through 204,000 hectares but is slowing down as the weather is helping with the fighting and not the continous burning.

Fitch has downgraded Brazil bonds to Junk.  Last year Standard and Poor downgraded them to Junk.  Moody’s has them at BB level, which is one notch under Junk.  If Rousseff is called to a trial (and it is looking like it), then Temer will take over for at least the 6 months duration of the trial.  This means that the country will be unstable for a while and does have quite a lot of debt.  Only hope is they do not go visit Argentina in 2001!

Duterte who is considered a brutal man is likely going to become the president of the Philippines.  He is most known for the brutal way in which he handles criminals.  People compare him to Donald Trump.

Martha Leah Nangalama

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