Research & Analysis

EUR/USD at its highest since early 2021. This week was marked by the rise of the euro against the dollar by + 0.34%, going from 1.214 to 1.218.

Dollar resists various negative US Data. At the end of this week, the euro fell slightly against the dollar, i.e. -0.21% from 1.217 to 1.214.

For this edition, we note a significant improvement in investor confidence toward the Equity market.

US jobs report penalizes the dollar. During this week, the dollar fell against the euro to its lowest level since the end of February 2021. In more details, the EUR/USD pair went from 1.20 to 1.22, i.e. a weekly evolution of +1.21 %.

An increase in activity, driven by power costs. At the end of Q1-21, TAQA Morocco recorded a consolidated revenue of MAD 1,912 Mn against MAD 1,883 Mn a year earlier, i.e. an increase of 1.5%.

Commercial achievements in line with our initial expectations. Total Maroc's operational achievements in 2020 are in line with our forecasts (Cf. Start 2021 under the cash-conversion perspective). 

The dollar appreciates for the 1st time since April. While the European currency experienced a bullish trend throughout April, the latter fell this week against the dollar by -0.64% to 1.202 from 1.210 a week earlier.

Despite the decline in Maroc Telecom's 2021 quarterly results, they remain in line with our annual growth forecasts.

The vaccination effort in Europe supports the euro The euro continued its bullish rally during the last week, showing a gain of + 0.95% against the dollar.