The Uganda shilling closed at 3384 on the US dollar, 4388 on the British pound, 3799 on the Euro, 50.73 on the Rupee, 33.43 on the Kenyan shilling, 2569 on the Canadian dollar, 2580 on the Australian dollar and 1.55 on the Tanzania shilling. #SteadyDepreciation which should boost exports and curtail imports. Celebrate the dollar gaining value and the shilling going down.
Coffee Arabica closed at $3.82 per kilo.
Coffee Robusta closed at $2.20 per kilo.
Gold closed at $1337 per ounce with no change.
Brent Crude Oil closed at $46 after losing $1.39 per barrel.
WTI Crude Oil closed at $44.48 after losing $1.84 per barrel. The weekly charts for both oil types show a downtrend and the Friday oil reports I share have been indicating this.
Shanghai lost 8 points and is still in bear territory but not terribly to convincing though. It would be a good one to watch instead of jumping in and I would also hold onto to any positions I have.
The Australia index gained 52 points and looks set for more gains at 5518 but has 2 resistance levels in the neighbourhood of 5550 but will likely break above this. The 5650 – 5700 area will surely pause a break and from there we will likely see it go up if it breaks the resistance or back down if it stalls.
Tokyo lost 54 points but this is hardly any movement for the Nikkei at all and was likely due to profit taking given how much it had risen the previous day.
Frankfurt lost 47 points but closed as a tiny candle engulfed by a bullish one so the DAX is on the way up.
Paris lost 21 points and it is also a tiny candle in a big bullish one so it looks like it is moving in synch with its cousin.
London lost 2 points and seems to be stalling a little bit in this and forming what appears to be a triple top. The minute it breaks above this level (I am confident it will) then we are going to see the FTSE hurt some more people (short squeeze).
Toronto lost 99 points, is at a triple top, is oil heavy, oil is going down. Definitely the TSX is going to fall next week.
Dow Jones Industrial Average lost 131 points. It was recovering quite well but hit resistance at 50 day moving average (MA) and backed off. Next week will be a down week.
Standard and Poor lost 12 points and closed its Gap up from Thursday signalling that the fall from Friday will likely continue.
NASDAQ lost 34 points. It is likely to fall a bit more but it is not as bearing as the other North American 3 and will likely not move in synch with them this coming week.
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Martha Leah Nangalama
I have an IT and business background and do own oil shares.