Weekly Financial Market Summary - Jan 14

Posted in: IDEAL Insights, Market Trends

This week in the forex market, the Jamaican Dollar (JMD) took a plunge against the major traded currencies. The JMD slide as much as $4.51 this week; year to date, the JMD has lost as much as 15.64% of its value with the exception being agaisnt the Euro. To date, the JMD has performed 5.82% ahead of the Euro.

The International Financial markets saw significant gains this week. Despite the US government shutdown entering its fourth week, the US equity markets and Treasury continues to trend upwards.

This week in the forex market, the Jamaican Dollar (JMD) took a plunge against the major traded currencies. The JMD slide as much as $4.51 this week; year to date, the JMD has lost as much as 15.64% of its value with the exception being agaisnt the Euro. To date, the JMD has performed 5.82% ahead of the Euro.

The Jamaican Stock Exchange saw mixed results this week. The Main market advanced by 1,399.6 points, while the Junior market declined by 14.91 points.  For a second week, Sterling Investments was one of the top performing main market stocks. The stock appreciated by J$0.50 or 12.50% week over week. Pulse Investments and Supreme Ventures were also major movers this week. For a second consecutive week, Sagicor X Fund was one of the worst performing main market stocks falling by J$1.48 or 12.85, to close the week at J$10.04. Fontana Limited topped the Junior market performers list on its debut. The stock rose by J$1.73 or 92.02% to close the week at J$3.61. The Blue Power Group and Consolidated Bakeries rounded off the top Junior market performers.

The International Financial markets saw significant gains this week. Despite the US government shutdown entering its fourth week, the US equity markets and Treasury continues to trend upwards. The Dow Jones & S&P 500 continue to see gains the indices advanced by 562.79 and 64.32 points respectively. The Nikkei showed signs of life as the index advanced for the first time in weeks to record gains of 4.08% this week. Yields on all tenor of US Treasuries advanced this  week after declining the previous week.

Check out full report here.

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