Uganda shilling and global market report


The shilling and global market report will now only be done on Fridays at the end of trading in North America.

Those who need daily analysis only have to contact us for the information.

The Ugandan shilling closed at 3323 on the US dollar, 4771 on the British pound, 3758 on the Euro, 49.66 on the Rupee, 33 on the Kenyan shilling, 2568 on the Canadian dollar and 1.52 on the Tanzanian shilling.

The shilling is doing rather well on the key currencies it trades with (Canada might not be major but Canada sends a lot of money to Uganda).

The weakness we see on the shilling is its inability to break through that resistance of 3300 so that we can all enjoy malwa.  Hey, malwa clubs are funded to the tune of sh. 2 million per club.  Forget about Pilsner and Nile Special!

Coffee Arabica closed at $3.30 per kilo.

Coffee Robusta closed at $1.88 per kilo.

I warned you people that Arabica can pull back but stay in it.  Nice play on it.  Robusta tends to hold steady but please mix your container shipments with both.  Real coffee drinkers know the difference.  Hailing from Mt. Elgon, I grew up on Arabica, until I met this other one called Robusta.  WHY?

Gold is trading at $1272 per ounce and it gained $6 per ounce today.  I bet oil is going to be lukewarm.

Oil (Brent Crude) did not move at all.  We have to make this the chart of the day.  Notice how it is closing well up above its 200 day Moving Average (MA).  But the sweet spot is it having 3 white candles in the last 3 trading days of this week so today was just a pause.  White candles (3) are a sign of more buyers than sellers.  The reverse is true when you see 3 red candles in a sequence.  This means North America went up.



Shanghai tried to rise up but got beaten down.  Only a little bit though.  It lost 9 points.

Hong Kong lost 5 points but its chart shows nothing but following gravity.  Ouch!

Tokyo – seriously?  This index is going to give people a heart attack.  It opened way above its 50 day MA and then proceeded to go south.  It lost only 234 points but do remember that the Nikkei can fall even 1000 points in a day.


Frankfurt had an awesome day.  It rose and closed right at its 50 day MA after gaining 91 points.

Paris gained 27 points which by the way was a great thing.  Except the fact that it is trading well below its 50 day MA.  I think the $CAC has more room to grow shorter.  Definitely shortable and the longers will regret buying it now with no support in sight.  Wait a bit, this index seems to be basing and basing and could be a candidate to buy and hold but I would not do it.  I would wait till it drops a bit more.  Neither would I short it because we are in dangerous territory here.

London – well, it acted like its European cousins.  It gained 34 points.  It is iffy iffy so be careful if you want to short it or go long on this one.  The thing is London follows Frankfurt and Paris so we need to watch what Merkel is doing.

North America:

Toronto dropped by 39 points.  Must be because the world woke up to our “Walk a mile in her shoes” where our men wore high heels to go on Bay Street and other parts of Canada wearing 6 inch heels to remind all the men that violence against women is a passe!.  You should check out the pictures we shared earlier.  In reality, a 39 point drop for the $TSX on a day when oil is going up only means that people are booking some profits.  Professional traders (some) believe that if your stock, index or mutual fund, or option scores you money, you take 50% off and watch the other 50% ride the wave.

Dow Jones Industrial Average fell by 185 points forming a really bearish pattern.  More sellers than buyers.  The damn thing closed under its support of the 200 MA.  I had so much hope.  Not the first time we get disappointed.

Standard and Poor – get out!  The $SPX did the same thing as the DOW.  There ought to be an explanation about this apart from the Tramp.

NASDAQ – well!  It followed its cousins.  Why can the NAS not have a mind of its own.  It is tanking slowly but steadily.


How do you all feel now that dictator #Museveni has called you stupid and useless?  Check the website for The Insider and you will have fun or cry if you are Ugandan.

The inaugration for the dictator of Uganda, one #Museveni, saw EU, US and Canada delegates walk out before the ceremony finished.  And get this, he said “Stupid, you do not tell me how to run my house”, meaning that Uganda is now his house.  Oh my!  There is a reason why presidents need to be changed frequently like pampers.

The sad part is another war is under way in South Sudan.  Wait, could we not fix the first one first?

The World Economic Forum in Kigali (Rwanda) saw many people praise Kagame.

In Nigeria, the Biafra fight is full battle.  The people in the Niger area where oil has been exploited and have not seen any benefit are up in arms.  But then again, Nigeria is the biggest oil producer in Africa, but then we will have Kenya.  Move over Uganda and Tanzania.  You have nothing on Uhuru.  He got some more 150 million barrels and discovered by a Canadian company (Africa Oil).  Bite!

Meanwhile in Canada, the fire in Ft. Mac has slowed down but not over yet.  We are going into summer full blast so the fires will burn for months.  Along those lines, in our neighbourhood of Nova Scotia, schools are receiving kids from the province of Alberta (Ft. Mac) and integrating them in the schools so that they do not miss out on this academic year.  But then again, most provinces in Canada stream line their curriculum.  You can move from one province to another and only miss your teachers.

On the other continent, Dilma Rousseff was impeached and now it is time to rebuild the country.  Too bad their bonds and national debt is rated junk or close to it.  Dilma is a strong woman and might fight over the next 6 months to regain her presidency.

Apparently Facebook controls the news you see in your feeds.  Who could have guessed when it was started by a young man who criticised the breasts of his girlfriend who had dumped him because he was a geek.  Respect Nerds.  One day, you might have to work for them.  Thank you Mark Zuckerberg!

Martha Leah Nangalama

The writer has an IT and business background and has traded in the past.


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