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KES breaches 78 vs $ for the first time in a year
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RVP
#1 Posted : Friday, May 07, 2010 6:14:41 PM
Rank: New-farer

Joined: 5/3/2010
Posts: 69
I am an exporter so this is good news. But what is causing this?
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youcan'tstopusnow
#2 Posted : Friday, May 07, 2010 7:08:53 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
The dollar may have taken a hit after the latest job report revealed unemployment had increased over the past month.
Plus the Kenyan shilling may have gotten a boost with some analysts predicting the economy might grow more than the 4% being predicted earlier.
Horticulture may breath a sigh of relief after being hit by the Icelandic Ash which saw many flowers rot.
GOD BLESS YOUR LIFE
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kizee
#3 Posted : Friday, May 07, 2010 7:50:09 PM
Rank: Member

Joined: 1/9/2008
Posts: 537
@ rvp

beleive it or not but some guy in NYSE with very fat fingers keyed in an oda to sell 1bn png shares as opposed to 1mio...the dow dipped like mad and as is customary some took this as an automatic indicator of surging risk aversion...thereafter the USD rallied madly against all G7 currencies and then EM ccys and then frontier ccys...imagine jana soko closed at 77.7585...todays first price was 78.2535..inakaa we aint seen ntg yet ....
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sparkly
#4 Posted : Friday, May 07, 2010 8:05:24 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
@kizee forgive my ignorance, this png has over 1B shares?
Life is short. Live passionately.
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guru267
#5 Posted : Saturday, May 08, 2010 7:53:33 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
youcan'tstopusnow wrote:
The dollar may have taken a hit after the latest job report revealed unemployment had increased over the past month.
Plus the Kenyan shilling may have gotten a boost with some analysts predicting the economy might grow more than the 4% being predicted earlier.
Horticulture may breath a sigh of relief after being hit by the Icelandic Ash which saw many flowers rot.


@youcant... i think you got the question wrong but i think the kenya shilling breaching 78 fromm 77.5 means it is weakening against the dollar not strengthening

@RVP this situation is being caused by the free fall of the euro during the week caused by the debt crisis in europe that led to the strengthening of the dollar
Mark 12:29
Deuteronomy 4:16
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Magigi
#6 Posted : Saturday, May 08, 2010 10:23:30 AM
Rank: Elder

Joined: 3/31/2008
Posts: 7,081
Location: Kenya
...all currenvcies are weakening against the dollar. it is not just the Kenyan shilling. And as someone pointed out, the Greek situation is afftecting alot of things in Europe.
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youcan'tstopusnow
#7 Posted : Saturday, May 08, 2010 3:11:46 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Guru, you're right. I misunderstood the question. Sorry there.
GOD BLESS YOUR LIFE
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kizee
#8 Posted : Monday, May 10, 2010 7:12:12 PM
Rank: Member

Joined: 1/9/2008
Posts: 537
[quote=sparkly]@kizee forgive my ignorance, this png has over 1B shares? http://www.msnbc.msn.com...eye_on_the_economy/from
proctor and gamble....trading on the new york stock exchange...


anyway the ECB seems to have saved the day and risk apettite returns....kes rallied somewat
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sparkly
#9 Posted : Monday, May 10, 2010 7:17:13 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
kizee wrote:
[quote=sparkly]@kizee forgive my ignorance, this png has over 1B shares? [/

proctor and gamble..trading on the new york stock exchange...

aahaaa...
Life is short. Live passionately.
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trendsignal.co.ke
#10 Posted : Tuesday, May 11, 2010 5:28:15 AM
Rank: New-farer

Joined: 4/9/2010
Posts: 34
Location: Kenya
Hi, If any of you want to see the Trendsignal (have a look at the Trendsignal forum on the Offshore page) charts for Ksh vs GBP and USD, please email me at kenya@trendsignal.co.uk and I will happily send them with explanation of what is happening and what will (my predictions only using Trendsignal charts) happen in the near future.
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