Weekly Financial Market Summary - April 18

This week in the forex market, the JMD further declined against the major currencies with the exception of the Euro. Year to date, the JMD has lost as much as 9.35% of its value. With the dollar once again depreciating rapidly against the USD, the Central Bank has intervened with a flash sale, pumping US$40M into the market to alleviate heighten demand.

This week in the forex market, the JMD further declined against the major currencies with the exception of the Euro. Year to date, the JMD has lost as much as 9.35% of its value. With the dollar once again depreciating rapidly against the USD, the Central Bank has intervened with a flash sale, pumping US$40M into the market to alleviate heighten demand.

The Jamaica Stock Exchange (JSE) saw mixed results this week. The Main Market advanced this week by 7,498.58 points, erasing last week’s decline. The Junior market continues to decline the index declined by a marginal 1.69 points. Sagicor Group Jamaica (SJ) was the top performing main markets stock this week. The stock appreciated by 15.33% or J$5.90 this weeks to close at J$44.38. This comes on the backdrop of the eagerly anticipated annual audited financial statements that depicted an improvement in net income. Mayberry Investments, Jamaica Producers and Stanley Motta were the worst performing stock this week.

In the international financial markets, the S&P 500 and the Nikkei this week, while the Dow Jones continues to advance. Yields on US Treasuries continue to poor poorly in the market. Yields on all tenor decline by 1 basis points. Year to date, yields on all tenor continue to produce negative results.

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