Hi Ngaatu,

Been busy,and the SK loading speed makes me think twice of logging in.

Havent been following the fundamentals too much,but I guess the marginal gains of oil and gold may momentarily temper the USD gains.

Was stopped out on my morning EUR trade (-35 pips). Currently long on GBPUSD from 1.8555,looking to exit at 1.8630-40 level. Feel cable is headed for the next resistance level of 1.8660-70 levels.

GL and GT

Taking profit on the GBP.

@Ngaatu,

check your email.

Nice evening. Am off!

@Ngaatu,Tonicasert et al...i have been busy for the last 2 days attending to personal matters so i have not really traded. Tomorrow being Friday,i MIGHT briefly enter into a viable trade from 10am-12 and then call it a day.

My favourite one will either be AUD/USD or NZD/USD...if i am trading,i will definitely keep you guys updated. GBP has been performing horrendously against the Kiwi and i might be tempted to enter into a trade but that should be for next week.

Thanks Ngaatu for the email...might drop a line or two.

Till tomorrow.


Anyone who lives within their means suffers from a lack of imagination

@all
How is the market swinging? @passyson i am seeing volatility in the comdolls what going on i suppose they have edged a little bit today against the USD

@NGAATU

@kilabe this is my 5 cent opinion.

I think the Kenyan shilling is going to weaken further if the USD is going to rally in the coming weeks.Maybe it could even reach at the level of 70/= to even 71/=.This in my opinion indicates that the Kenyan economy is still susceptible to any global shakeout and it does not have domestic economic strength to cushion itself due to its weakness of the economy.

There is tight liquidity(money circulation has been curtailed) in the market meaning that there is less money to be given to private investors and individuals so that they could invest and generate economic activities thus tight money circulation.This is also caused largely by the response of our CBK to fight the inflation and i think they have reacted by increasing the bank rate(repo rate) which means also the lending rates have to be adjusted and borrowing is made costly to individuals;you have seen many banks adjusting their lending rates.Another reason for the contraction of liquidity i think is because of the safcom I.P.O and its ripple effect after.There are still huge funds retained with some banks and also it has decreased the investor confidence a lot.

Oil prices are surging up and the cost of food is rising sharply making everything to increase twofold from transport to anything you can imagine.The inflation levels are very high at around 29.5% but i think its more than that! This has been driving foreign investors out as you have seen the performance of N.S.E as the investment environment is not that conducive though promising.This and other factors earlier in the year have made our economy to stagnate a little bit and i think the performance of most counters at N.S.E wont be performing good(it even lost ksh 200billion!!) until the end of this year when probably the economy would have corrected itself and would be picking up again.
I don't expect the N.S.E to perform well with an exception of few counters like financial. So i should be expecting the weakness of the shilling may continue to the 70/= unless the U.S weakness that could boost the domestic currency against the USD but KSH itself at the moment with the prevailing economic situation cannot help itself much.





@NGAATU