Business

Uganda shilling, global market report – November 25, 2016

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The Uganda shilling closed at 3620 on the US dollar. Resistance is now firm at 3600. It has been trying but gets beat down. Support is at 3700 major and minor is at 3650 which is peanuts. The UGX is going down some more.

Gold is trading at $1184 after losing $5 per ounce.

Brent Crude Oil closed at $47.24 after losing $1.70 per barrel. How is that irrational exhuberance now working out?  The fact is OPEC no longer has a monopoly on oil.

MARKETS:

Asia was all green.

Europe was green

North America was green.

The stock markets are bullish now. A rising tide lifts up all boats. This then becomes a job of watching those particular stocks one trades and their derivatives.

Currencies are doing strange things with Brexit, TTP and of course the results of the US elections.

Certainly CETA is good to counter Trump killing NAFTA but TTP dead?  The ramifications of TTP dying eill yet unfold.

Martha Leah Nangalama

I have an IT and business background besides being affiliated with Oil.

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