Weekly Financial Market Summary - March 4

This week in the Forex market saw considerable gains for the Jamaican Dollar (JMD). The Jamaican Dollar advanced against all the major traded currencies, appreciating by at least $2.79. The revaluation of the dollar has erased some of year to date loss, as at March 1, the JMD has now lost only 0.54% of its value when compared to the USD. When compared to the start of February, the JMD appreciated by $8.65 or 6.31% against the USD.

This week in the Forex market saw considerable gains for the Jamaican Dollar (JMD). The Jamaican Dollar advanced against all the major traded currencies, appreciating by at least $2.79. The revaluation of the dollar has erased some of year to date loss, as at March 1, the JMD has now lost only 0.54% of its value when compared to the USD. When compared to the start of February, the JMD appreciated by $8.65 or 6.31% against the USD.

The Jamaica Stock Exchange (JSE) saw both the Main and Junior market advance. Caribbean Cement Co. and Supreme Ventures were the top two main market performers this week. The stocks advanced by 20.07% and 14.11% respectively. The appreciation of the stocks comes on the backdrop of strong financial growth in 2018 audited statements. Salada Foods Ja. continues to be one of the worst performing main market stocks, this came as a result of poor financial results in Salada’s 1st quarter results. Medical Disposables & Supplies, Jamaican Teas and General Accident Insurance Co. were all top performing Junior market stocks this week, these stocks advanced by at least 12.5%. Everything Fresh, Derrimon Trading and Cargo Handlers were all named worst performing junior market stock. The stocks fell as their profits declined over the comparable period.

In the international financial markets, the Dow Jones and S&P 500 saw minor movements this week, while the Nikkei continues to trend upwards, a contrast to 2018. Year to date the major indices continue to display positive results. US Treasuries saw yields on all tenor advancing, with yields advancing by as much as 10 basis points to erase any losses.

Check out full report here.