The Uganda shilling closed at 3396 on the US dollar, 4223 on the British pound, 3803 on the Euro, 50.98 on the Rupee, 33.71 on the Kenyan shilling, 2554 on the Canadian dollar, 2578 on the Australian dollar and 1.56 on the Tanzania shilling. Please do not get excited. The shilling is going down and BIG time. The recovery today was due to people making money and offloading their positions. As a matter of fact, if we had shorted the UGX last week, we would be laughing all the way to the bank. Alas, my forex firms do not offer the UGX for trading.
Coffee Arabica closed at $3.61 per kilo.
Coffee Robusta closed at $2.20 per kilo.
Gold is at $1253 after losing $3 per ounce.
Brent Crude Oil closed at $51.68 after losing $1 per barrel. But it is mighty bullish though so be careful.
WTI Crude Oil closed at $49.81 after losing $0.63 per barrel. It formed the same as Brent.
Shanghai gained 6 points and is a none mover.
Australia lost 16 points and is shaping up for a perfect short. OMG, I would short this index just about now.
Tokyo lost 39 points. The Nikkei is no touch. Do not even think of moving long of short.
Frankfurt lost 78 points. No touch. It looks like a good short but the DAX has support and just let the weak hands and profit takers get out. I would actually hold my positions in it because it is 50/50.
Paris lost 30 points. I feel like shorting this index but not being sure, stay off side. You see the CAC needs to move in synch with the DAX in order to take a solid position. Hold.
London gained 44 points. Perhaps this is the reason you should not short the DAX and CAC when FTSE is not moving in motion.
Toronto lost 29 points and is not a perfect short but a likely one. The job numbers from Canada were iffy. I will not move on this one but will watch it. But dear heaven, the TSX is looking good for a short.
Dow Jones Industrial Jones Average lost 28 points and has been shaping up rather well in bear territory.
Standard and Poor lost 7 points and it is a bear. Oops.
NASDAQ lost 14points and is a perfect short. Except one thing. Xmas gadgets could move the COMPQ up so maybe we need to trade this one very carefully.
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Martha Leah Nangalama
Twitter: @mlnangalama and I am on all social media.
I have an IT, business background and have traded in the past in equities, options, forex and mutual funds, etc… All my opinions are only mine. I am not certified to give Financial Planning or Investment Advice.