Weekly Financial Market Summary - Feb 4
Posted in: IDEAL Insights, Market Trends
This week in the Forex market the Jamaican Dollar (JMD) took another fall against the major traded currencies with the exception of the Euro. The JMD fell as much as $6.48 this week, year to date the JMD has performed negatively against all the major traded currencies.
The Jamaican Dollar now trades at USD$1: J$137.06, a four month high. Consequently, the Central Bank has reacted by issuing a flash sale of US$30M into the market on February.
subsequent to this, the Central Bank announced another flash sale of another US$30M into the market on February 4, 2019.
The Jamaica Stock Exchange (JSE) saw mixed results this week. After weeks of decline the Main Market advanced by 3.26%, while the Junior market declined by 0.91%. Overall 47 stock advanced, while 24 declined and 31 traded firm. Proven Investment (JMD) was the top performing main market this week as the stock jumped by 32.08% to close at J$35.00. tTech rebounded this week to be named the top performing junior market stock the stock appreciated by J$0.85 this week to close at J$5.85.
In the International financial markets the major Indices advanced. The S&P 500 rebounded to advanced by 41.77 points this week, year to date the S&P 500, Dow Jones and Nikkei continue to perform positively after a poor end to 2018. This week, yields on US Treasuries suffered a blow as yield on tenor declined. Consequently, all gains on Treasury yields were erased.
Check out full report here.
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