Weekly Financial Market Summary - Feb 18

This week in review, the Forex market the Jamaican Dollar (JMD) strengthen against the major traded currencies. This came on the heels of the Bank of Jamaica (BOJ) ensuring adequate supply of USD in the market by way of multiple flash sales. As a result the JMD appreciated against the major traded currencies by as much as $6.04 this week. Nonetheless, the JMD year to date performance remains in the negative in comparison to these currencies.

This week in review, the Forex market the Jamaican Dollar (JMD) strengthen against the major traded currencies. This came on the heels of the Bank of Jamaica (BOJ) ensuring adequate supply of USD in the market by way of multiple flash sales. As a result the JMD appreciated against the major traded currencies by as much as $6.04 this week. Nonetheless, the JMD year to date performance remains in the negative in comparison to these currencies.

The Jamaica Stock exchange (JSE) saw mixed results this week. The Main market advanced by 6,732.61 points while the Junior market declined by 3,097.20 points. For a second consecutive week, 138 Student Living (138SL) and the Jamaica Stock Exchange (JSE) were two of the top performing main market stocks. The JSE traded at a new high of J$17.95 per share this week. Eppley was also top performer this week as the company saw a resurgence in net income for 2018. Consequently, the stock traded to a 1 year high of J$13.00 per share. Salada Foods was the worst performing main market stock this week as the stock closed at J$33.00, declining by J$6 or 5.71%. The decline was attributed to a significant decline in profits after the disclosure of its 1^st quarter earnings. Caribbean Flavours & fragrances (CFF), Paramount Trading and Consolidated Bakeries were the top performing Junior market stocks this week. Medical Disposables & Supplies (MDS), Derrimon Trading an SSL Venture Capital were the worst performing Junior market stocks this week. MDS share price fell as the company suffered a dip in its nine months profits when compared to the previous year.

In the international financial markets this week, the international indices advanced for another week with the Nikkei rallied after stumbling the previous week. Year to date, these indices continue to advance despite continuing US-China Trade talks. Yield on all tenor of US Treasuries rebounded this week with yield advancing by as much as 5 basis points this week. Year to date, yields on the five year and ten year Treasuries remain in the negative despite the rally.

Check out full report here.