The Uganda shilling closed at 3378 on the US dollar, 4456 on the British pound, 3789 on the Euro, 50.32 on the Rupee, 33.38 on the Kenyan shilling, 2567 on the Canadian dollar, 2520 on the Australian dollar and 1.55 on the Tanzania shilling. The shilling is a very boring currency to watch as it is trading within a very tight range.
Coffee Arabica closed at $3.69 per kilo.
Coffee Robusta closed at $2.11 per kilo.
Gold is at $1319 and has lost $11 per ounce.
Brent Crude Oil closed at $47.16 after losing $1.06 per barrel.
WTI Crude Oil closed at $44.90 after losing $1.39 per barrel. OIL is going down and if you had been following my daily reports, you would have seen all this coming despite the one day hype of Russia and OPEC agreeing to cut back supply to squeeze up the prices. As if USA would let them.
Shanghai gained 2 points. Nothing to write home about. It is in bear territory.
Hong Kong kind of got out of bed, slammed the alarm off and went back to sleep. Zero change.
Tokyo gained 56 points but it is in bear territory.
Frankfurt lost 45 points and although it still has a bit of support, the DAX is turning fully bearish.
Paris – What the???? The CAC lost 53 points but cemented a real bear move. This thing is a good short. It is seating on its support line but the candle is ugly. Check the chart.
Toronto – hopeless. Not only did the TSX lose 248 points but it just did this thing that makes me want to scream. It is tanking like there is gravity to Bay Street.
Dow Jones Industrial Average got decimated. It lost 258 points.
Standard and Poor lost 32 points and the chart is a carbon copy of the Dow.
NASDAQ did rather well. It lost 57 points. But it is falling too. What a joke. No idea why the North American markets are acting silly.
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Martha Leah Nangalama
I have an IT and business background. I am employed by Exxonmobil (the biggest globally publicly traded oil company) and I have shares in Imperial Oil Ltd. (Canada’s biggest oil company).
All my opinions are mine and mine alone.