Wed. Feb. 10, 2016 currency and global market report


The Uganda shilling closed at 3458 on the US dollar, 5033 on the British pound, 3910 on the Euro, 34 on the Kenyan shilling and 2487 on the Canadian dollar.  I really like the stability of the Uganda shilling on the Kenyan shilling.  I have been watching the Kenyan shilling since 2013 and it has moved only 3 shillings in 3 years.  Stable solid currency. Not the kind that can make you money though but the type that can help you do your monthly budget.

Coffee Arabica finished at $3 a kilo.

Coffee Robusta finised at $1.63 a kilo.

Coffee decided to take a break today and as you can see, there was barely any change from yesterday.  It had jumped up much too high and people do take profits out.  I will write about profit taking soon.

Gold jumped up $14.02 per ounce closing at $1208 per ounce.  This one is interesting.  Many investors run into gold when markets become turbulent.  I think when I first started covering currency and markets for Uganda (some 3mths ago), gold was selling at under $1000 an ounce.  Hey there, do not laugh, I have always covered these things, I just was not doing them publicly and those who have been following me on Social Media know this.

Oil is doing something that I have not seen for a while.  There are 2 main types of oil traded on the markets (there are others).  Sweet (WTI) and then Brent (which applies to Uganda).  Normally WTI trades higher than Brent but now it is trading much lower than Brent Crude and we will have to watch what is going on.  I use Brent crude in the daily report because that is the type Uganda will be dealing with when that oil gets out of the ground.

Oil rose 0.75% ( a whole 0.23 points).  Nothing to write home about.  The chart looks iffy.  It took a pause before continuing its downfall.




Shanghai is really trying.  It lost 0.63% (18 points).  The chart looks solid though.  Come on China, you made everything after God made heaven and earth so take over this ship and lift us up.


Hong Kong did that thing again.  It fell 0.03% (0.13 points).  Who even has the time to read such minute numbers?


Tokyo really annoyed me today.  It continued the trip to gravity.  The Nikkei fell by 2.31% (372 points).  I guess the negative bank rate only made some money for some few people in the first week.  The Nikkei chart looks, what is the word, it is worse than ugly.  This is the chart of today.  This one has no support in sight at all and Japan is a biggie.



Frankfurt tried to recover by 1.55% (138 points).  I would not hold my breath because this looks like a pause in the selling.


Paris tried and went up by 1.59% (64 points).  Oh my, the chart looks like the DAX (Frankfurt).  This one too was a pause in the selling.


London did something similar to the DAX and CAC (Paris).  My teachers were right.  All white people look the same (by the way, all black people look the same too). These 3 major indices are behaving the same way and it is interesting because at least we can see cohesion.  I wish North America could behave like the Europeans.  The FTSE rose 0.71% (40 points).


If China does not rain on our parade I think we could move this market from Bear to Bull.  Bear is a seller’s market.  Bull is a buyer’s market.

North America:

Toronto – no more love tonight.  How low will you fall dearest?  The TSX fell 0.79% (97 points).  It is not so much that it fell but it formed a horrible chart in continuation of the recent fall.  The TSX is heavily weighted on oil though.


Dow Jones Industrial Average fell 0.62% (100 points).  This is not fun anymore.  A bit painful to see this chart.  It is still holding in the last hammer but all the same, the other analytical graphs show it heading down.


Standard and Poor did kinda okay.  It lost 0.02% (0.35 points).  Normally, this is a non issue.  The chart just says “we are going down”.


NASDAQ – well that is a good one.  The Nasdaq rose 0.35% (15 points).  Maybe the baby ditched the bigger siblings. Not so fast.  It might be because of short covering.  I will get into shorting soon.



I own stocks in only two companies.  The girls only own mutual funds which are loaded with banks and insurance companies.  I have shares in Imperial Oil Ltd. (IMO.TO or IMO on NYSE) and Exxonmobil (XOM on NYSE).



Martha Leah Nangalama

Moncton, Canada

The writer is an IT analyst for an Oil company and has traded stocks, options and forex in the past.  All my opinions are mine and mine alone.  My opinions do not reflect on my employer or any organisation I am affiliated with.




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