MAD Insights september 1st, 2023
USD/MAD appreciated by +1.24% from 9.99 to 10.11 this week. The Dollar is thus appreciating for the 4th consecutive week to go back above MAD 10 for the first time since June. The evolution of the EUR/USD pair remains mainly dependent on the monetary policy decisions of the Fed and the ECB. [...]
AGR House View-August 2023
The orientation of the stock market in recent years confirms, in our opinion, its high sensitivity to bonds. In 2022, the bullish reversal of the yield curve in Morocco was accompanied by an annual underperformance of the MASI index of -20%.
MAD Insights august 25th, 2023
The USD/MAD appreciated this week by +1.05% from 9.88 to 9.99. The Dollar thus appreciated for the 3rd consecutive week to reach a high since the end of last June.
MAD Insights august 18th, 2023
The USD/MAD increased by +0.75% from 9.81 to 9.88.The Dollar thus appreciated for the 2nd consecutive week to reach a high since the end of last June. Despite this increase, these spreads should continue to fall during the month of August, supported by workers’ remittances during the summer period.
MAD Insights July 27th 2023
The USD/MAD appreciated this week by +0.75% after 3 weeks of successive declines, going from 9.68 to 9.75. This is due to a double positive effect, i.e. a positive basket effect of +0.56% related with the correction of the Euro internationally and a positive liquidity effect of +0.19%.
MAD Insights July 21st 2023
USD/MAD depreciated for the 3rd consecutive week by -1.26% to 9.68 against 9.81 a week earlier, i.e. a new low since April 2022. This is due to a negative basket effect of -1.84% related to the depreciation of the Dollar internationally, offset by a positive liquidity effect of +0.58%.
Research Report Sonatel 2023
A "leadership" preserved in all countries of presence The incumbent telecommunications provider of Senegal (SONATEL), a subsidiary of the Orange Group, is a key player in West Africa.
MAD Insights July 11th 2023
The USD/MAD pair depreciated this week by -0.75% to 9.81 from 9.88 a week earlier, i.e. its lowest level since April 2022. The downward trend in liquidity spreads intensified this week with moving into negative territory for the first time in 12 months.
MAD Insights July 7th 2023
The USD/MAD pair depreciated this week by -1.31% to 9.88 from 10.01 a week earlier, a 12-month low. This evolution is explained by a double effect (basket and liquidity) in favor of the Dirham. [...]
