With the world economy in the grip of a credit crunch, traders and consumers in Uganda are struggling with price inflation and the depreciation of the country's currency, the Ugandan shilling, against the dollar. Especially importers have not been able

SA's trade balance swung back into surplus for the first time in two- and-a-half years in May, official data showed yesterday, prompting a 2% rand rally to a 10-month peak.

Good Monday morning Gambia and welcome to the Dalasi Update (DUD). We are privileged this week to bring to you the trading figures of the Dalasi in relation to other international currencies notably the Pound Sterling, US Dollar and the

TRADING at the Uganda Securities Exchange (USE) picked up on Tuesday after a dismal performance at start of the trading week.

The Bank of Tanzania (BoT) is conducting civic education to raise awareness on the circulation of fake notes.

Despite rising to 136.90 yesterday in New York trading, the single currency met option-related selling interest just below 137.00 option barrier and has retreated since, suggesting further consolidation below there would take place ahead of the release of U.S. non-farm

We have revised our preferred count on USD/CAD as indicated on our attached daily chart that early rally from 0.9059 low to 1.3066 is still treated as wave A, followed by wave B which is sub-divided as a: 1.2192, b:

Although the Australian dollar dropped again after rebounding to 0.8109 yesterday and fell to as low as 0.8009 this morning, as long as indicated support at 0.7984 remains intact, we are still treating the fall from 0.8156 as correction but

We have revised our preferred count on the daily chart as indicated below, the wave V of a 5-wave series from 0.5682 has ended at 0.9805 earlier and major A-B-C correction is unfolding with A: 0.8637, B: 0.9491 and wave

Intraday bias in EUR/JPY remains on the upside with 135.50 minor support intact and further rally is still in favor towards 139.21 high. However, we're still preferring the case that such rebound is merely a correction and hence expect upside

Finally, the EURUSD had significant movement yesterday. The pair broke above 1.4176 key level, topped at 1.4198 but closed lower at 1.4140. Technically the fact that 1.4176 was broken to the upside should setting up bullish scenario targeting 1.4336. However

Euro 1.4135 Initial support at 1.3983 (Jun 29 low) followed by 1.3827 (Jun 22 low). Initial resistance is now located at 1.4201 (July 1 high) followed by 1.4267 (Jun 5 high)

The dollar index has traded higher recently from the 79.50 support zone into a higher wave c) leg, as expected near to wave a) highs. The wave count is showing a potential completed correction in wave II), which means that

Losses developed from a slightly lower level than expected but did reach the 1.1435-45 target. I don't really see any reversal signals currently and thus I am probably more in favor of another marginal new low today around the 1.1358-84