Jamaica’s foreign currency market activity returned to normal on Friday with trading at midday showing buying and selling almost even, unlike the previous two days when selling was well below buying. On Friday at midday, dealers purchased US$7.7 million at an average rate of J$125.24 and sold US$6.96 million at an average of J$125.98.
At mid-day on Thursday dealers purchased US$15.39 million at an average rate of J$125.49 while selling US$7.72 million at an average of J$126.05.
On Friday, the rate of exchange to buy the US dollar by the public, declined for the fourth time for the week to $125.98 as dealers sold US$30.35 million in US dollars, compared to US$38.51 million at an average rate of $126.08 on Thursday.
US currency purchases amounted to US$30.77 million on Friday, at an average rate of $124.73, compared to Thursday, with US$32.67 million at $125.
Dealers’ purchased US$34.27 million, versus US$42.48 million on Thursday in all currencies in Jamaica’s Forex market and sold just US$32.6 million compared with US$46.15 million sold, previously.
The selling rate for the Canadian dollar jumped to J$98.60 from J$95.16 at the close on Thursday. The selling rate for the British Pound slipped to J$169.10 versus J$169.72 previously and the euro gained value against the Jamaican dollar, moving to J$150.96 to buy the European common currency, versus prior selling rate of J$148.55.
More gains for Jamaican$
Jamaican cashing US$ for Wisynco stock?
At midday on Thursday, foreign currency was pouring into dealers coffers faster than they could dispose of it, with total US$15.39 million purchased by dealers at an average rate of J$125.49, while they could only sell US$7.72 million, at an average of J$126.05.
By the close of trading on Thursday, dealers average rate was down to just $125 to buy the US dollar, a clear indication that they were staving off the selling pressure.
Interestingly, last week, purchases by dealers for the first 4 days for the US dollar, was $145 million and jumped to $161 million to Thursday this week, while the dealers sold just US$167 million in US currency this week, up from $150 from the prior week. The fall in the exchange rate with more selling of US dollars by dealers, suggest that the general public are offloading US dollars into the system. The selloff comes at an interesting time with the very popular Initial Public Offering of shares in Wisynco Group.
Thursdays’ mid-day trading pattern was similar to Wednesday’s with the purchase of US$13.57 million at J$125.72 and selling of US$7.37 million at J$126.16 by mid-day.
On Thursday, the rate of exchange to buy the US dollar by the public, declined for the third time for the week to $126.08, as dealers sold US$38.51 million in US dollars, compared to US$41.03 million at an average rate of $126.20 on Wednesday.
Wata produced by Wisynco
Dealers’ purchased US$42.48 million, versus US$53.74 million on Wednesday in all currencies, in Jamaica’s Forex market and sold US$46.15 million compared with US$44.63 million sold, previously.
The selling rate for the Canadian dollar dropped to J$95.16 from J$98.39 at the close on Wednesday. The selling rate for the British Pound climbed to J$169.72 versus J$169.34 previously and the euro lost value against the Jamaican dollar, recovering to J$148.55 to buy the European common currency, versus prior selling rate of J$146.91.
Jamaican$ value improves again – Wednesday
On Wednesday, the rate of exchange to buy the US dollar by the public, fell to $126.20 as dealers sold US$41.03 million in US dollars, compared to US$43.18 million at an average rate of $126.30 on Tuesday.
US currency purchases amounted to US$43.27 million on Wednesday, at an average rate of $125.29, compared to Tuesday, with US$36.45 million at $125.20.
Dealers’ purchased US$53.74 million, versus US$41.92 million on Tuesday in all currencies in Jamaica’s Forex market and sold US$44.63 million compared with US$48.22 million sold, previously.
At Midday, dealers bought just US$13.57 million at J$125.72 and sold US$7.37 million at J$126.16 compared to the purchase of US$12.76 million at J$125.57 and selling of US$10.07 million at J$126.25 on Tuesday
The selling rate for the Canadian dollar fell to J$98.39 from J$99.30 at the close on Tuesday. The selling rate for the British Pound jumped to J$169.34 versus J$168.12 previously and the euro lost value against the Jamaican dollar, declined to J$146.91 to buy the European common currency, versus prior selling rate of J$151.75.
Jamaican$ makes more gains – Tuesday
On Tuesday, the rate of exchange to buy the US dollar by the public, remained at $126.30 as dealers sold US$43.18 million in US dollars, compared to US$44.52 million at an average rate of $126.30 on Monday.
US currency purchases amounted to US$36.45 million on Tuesday, at an average rate of $125.20, compared to Monday, with US$48.63 million at $125.45.
Dealers’ purchased US$41.92 million, versus US$53.35 million on Monday in all currencies in Jamaica’s forex market and sold US$48.22 million compared with US$62.52 million sold, previously.
At Midday, dealers bought just US$12.76 million at J$125.57 and sold US$10.07 million at J$126.25 compared to the purchase of US$27.48 million at J$125.99 and selling of US$13.66 million at J$126.23 on Monday
The selling rate for the Canadian dollar fell to J$99.30 from J$99.90 at the close on Monday. The selling rate for the British Pound slipped to J$168.12 versus J$168.14 previously and the euro gained in value against the Jamaican dollar, declined to J$151.75 to buy the European common currency, versus prior selling rate of J$152.44.
Jamaican$ makes more gains – Monday
The Jamaican dollar strengthened further against the US dollar in foreign exchange trading on Monday, with it taking 4 cents less to buy the US dollar than on Friday.
The major news of the day was the sell-off of the Canadian dollar with dealers selling Can$21.36 million but at a higher rate than at the close of Friday, compared to just Can$3.6 million bought on Monday.
On Monday, the rate of exchange to buy the US dollar by the public, dropped to $126.30 as dealers sold US$44.52 million of the US dollar, compared to US$28.17 million at an average rate of $126.34 on Friday.
US currency purchases amounted to US$48.63 million on Monday, at an average rate of $125.45, compared to Friday, with US$35.34 million at $125.46.
Dealers’ purchased US$53.35 million, versus US$43.45 million on Friday in all currencies in Jamaica’s forex market and sold US$62.52 million compared with US$34.28 million sold, previously.
At Midday, dealers bought just US$27.48 million at J$125.99 and sold US$13.66 million at J$126.23 compared to the purchase of US$6.7 million at J$125.60 and selling of US$8.9 million at J$126.21 on Friday
The selling rate for the Canadian dollar rose to J$99.90 from J$99.50 at the close on Friday. The selling rate for the British Pound climbed to J$168.14 versus J$167.32 previously and the euro gained in value against the Jamaican dollar, jumping to J$152.44 to buy the European common currency, versus prior selling rate of J$148.92.
Derrimon out Kremi is back in TOP 10
Derrimon Trading reentered the TOP 10 last week but has spent just one week rising during the week from $6.50 to $8 and is replaced by Caribbean Cream, the only new entrant to the TOP list.
Jamaica Broilers slipped to $17.50 during the week and moved to the top of the main market listing with Berger Paints moving to Number 3 position having closed at $16.50 on Friday while Salada Foods rose to $10 and fell to 7th spot.
At the close of Friday, the average PE ratio for 
Junior Market Top stocks is at 9.2 and a PE at 8.6 for the main market TOP 10. The average PE for the overall main market is 14.7 and 14.4 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 34 percent to the average of the market for Junior Market Top stocks and 42 percent for the main market.
Market Watch| The two markets have retreated to be testing support and some individual stocks seem to be more in a mood for profit taking than wanting to move much higher currently, as such stocks may not gain 
much during the week ahead, but that is difficult to know. Investors should nevertheless keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.
Highest valued Jamaican$ since mid-2016
The Jamaican dollar made its strongest gains against the US dollar in November in foreign exchange trading on Friday, with it taking 20 cents less to buy the US dollar than on Thursday.
On Friday, the rate of exchange to buy the US dollar by the public, dropped to $126.34 as dealers sold US$28.17 million of the US dollar, compared to US$25.95 million at an average rate of $126.54 on Thursday.
Friday’s rate is the lowest since July 20, 2016, when the average rate ended at $126.36. The currency also appreciated from J$128.27 at the end of 2016. US currency purchases amounted to US$35.34 million on Friday, at an average rate of $125.46, compared to Thursday, with US$23.03 million at $125.27.
The gain took place in a remarkable month for the local dollar, with the rate closing at the end of October at $127.29 and now seeming as it could break below the $126 mark by the end of November. The local currency came under pressure in early September, as Jamaicans secured funds to invest in new bonds government of Jamaica was issuing to retire older expensive debt. The payout of the retiring bonds left the market flooded with US dollars. Demand waned for the US dollar, leading to sell off since mid-September, after the US dollar peaked against the Jamaican dollar at J$131.31, with the rate retreating weekly since.
The fate of the currency is now in the hands of the central bank, as the country enters a period of heighten inflows and relatively less demand up to April. For November, the central bank selling to the market by way of auction was limited US$27 million with the last two weeks being $4 million each. The central bank indicates that market intelligence suggest no need to intervene on the sell side for the first two weeks in December.
Trading volumes in the market for this past week, fell to the lowest, for November, with US$223 million Inflows and outflows of US$217 million compared to inflows in the previous weeks of US$252 million to $271 million and outflows of US$240 million to US$281 million of all currencies.
Dealers’ purchased US$43.45 million, versus US$24.92 million on Thursday in all currencies in Jamaica’s forex market and sold US$34.28 million compared with US$26.96 million of all currencies sold, previously.
The selling rate for the Canadian dollar rose to J$99.50 from J$99.41 at the close on Thursday. The selling rate for the British Pound dropped to J$167.32 versus J$168.40 previously and the euro fell value against the Jamaican dollar, rising to J$148.92 to buy the European common currency, versus prior selling rate of J$151.68.
Forex trading drops sharply on Thursday
Trading in the foreign exchange trading on Thursday declined sharply from Wednesday’s levels by more than 50 percent as just US$25 million flowed into the market and US$27 million was sold of all currencies.
The flows are by far the lowest amounts for November to date, with the previous low being Friday the 10th with inflows of US$40 million and outflows of US$46 million.
On Thursday the Jamaican dollar decline in value in the foreign exchange trading, with the rate of exchange to buy the US dollar by the public, inching higher to $126.54 as dealers sold US$25.95 million of the US dollar, compared to US$39.17 million at an average rate of $126.52 on Wednesday.
US currency purchases amounted to US$23.03 million on Thursday, at an average rate of $125.27 compared to Wednesday, with US$39.23 million at $125.58.
Dealers’ purchased US$24.92 million, versus US$51.30 million on Wednesday in all currencies in Jamaica’s forex market and sold US$26.96 million compared with US$50.64 million of all currencies sold previously.
At Midday, dealers bought just US$4.5 million at J$125.50 and sold US$2.9 million at J$126.45 compared to the purchase of US$18 million at J$126.07 and selling of US$10.9 million at J$126.44.
The selling rate for the Canadian dollar slipped to J$99.41 from J$99.63 at the close on Wednesday. The selling rate for the British Pound rose to J$168.40 versus J$167.19 on Wednesday and the euro gained value against the Jamaican dollar, rising to J$151.68 to buy the European common currency, versus J$149.50 previously.
Jamaican$ fairly stable on Wednesday
The Jamaican dollar rose in value in the foreign exchange trading on Wednesday, with the rate of exchange to buy the US dollar by the public, declining to $126.52 as dealers sold US$39.17 million of the US dollar, compared to US$43.27 million at an average rate of $126.54 on Tuesday.
US currency purchases amounted to US$39.23 million on Wednesday, at an average rate of $125.58 compared to Tuesday, with US$39.31 million at $125.59.
Dealers’ purchased US$51.30 million, versus US$54.28 million on Tuesday in all currencies in Jamaica’s forex market and sold US$50.64 million compared with US$59.20 million of all currencies sold previously.
At Midday, dealers bought US$18 million at J$126.07 and sold US$10.9 million at J$126.44 compared to the purchase of US$12.9 million at US$10.5 million at J$126.62.
The selling rate for the Canadian dollar slipped to J$99.63 from J$99.70 at the close on Tuesday. The selling rate for the British Pound edged to J$167.19 versus J$167.18 on Tuesday and the euro lost value against the Jamaican dollar, rose to J$149.50 to buy the European common currency, versus J$149.72 previously.
More fall for JSE main market – Tuesday
Trading on the Main Market of the Jamaica Stock Exchange closed on Tuesday with 23 securities changing hands, 9 advanced, 8 declined and 5 traded firm with 28,191,292 units valued at $755,323,320 compared to 4,115,612 units valued at just $48,667,070 on Monday.
The JSE All Jamaican Composite Index declined by 646.61 points to close at 314,205.01 and the JSE Index declined by 589.13 points to close at 286,276.31. The US dollar market index rose 6.40 points to 168.30 as 1 security traded with a gain in this market with a volume of 51,366 units valued at US$11,060.
Trading ended with an average of 1,225,708 units for an average of $32,840,144 in contrast to 178,940 units for an average of $2,115,960 on Monday. The average volume and value for the month to date amounts to 346,613 units valued at $5,296,046 and previously 284,400 units valued at $3,346,771. 
In contrast, October closed with average of 185,251 units valued at $16,528,582 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Major movements took place in NCB Financial Group with 5.4 million shares trading with the price dropping $3.50 and Supreme Ventures with 14 million units with its price rising 25 cents and JMMB Group 7.5% preference share traded 6,272,469 stock units. Barita Investments declined by $1, Caribbean Cement fell of $2.92, followed by Carreras with a fall of $1.18, while Sagicor Group rose $1.90.