Friday, November 20, 2015

#UGANDA DAILY UPDATE ON FINANCIALS

The #Uganda shilling is trading at 3,360/3,370.  Yes it is dropping. Blame IMF for downgrading GDP for Uganda.

It is trading at 5115 on the British pound.  I will still say that Ugandans abroad need to send the Xmas money to their families now. Main reason being that for 2yrs, I have watched the shilling climb high in December and January. It usually tanks in February though after the holliday fever wears off and Nkuba Kyeyo flies out.  But you should also not call all Ugandans living abroad Nkuba Kyeyo.  We are professionals. You can claim that I sweep snow in Canada all you want but I do not.  Too lazy.

Gold is sitting at $1083 an ounce.  Now this one is interesting. Gold is not moving. Side kick on Gold.  In 2014, someone someone dumped 6 tons of gold on the markets. Crashed the thing from some $2000 an ounce to now low $1000 an ounce. Interesting.

Oil is acting up. Read my post from yesterday. It is trading at $40.35 a barrel on Nymex (read New York).  I do not understand this. Let me check another site. Will share charts from both.  Usually my readings on the charts are okay but this oil is playing a game.

First chart is live. Second chart is daily.  Still the disparity makes no sense.  I am using my phone and will revise when I get home and on my laptop.

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