INTERNATIONAL HIGHLIGHTS
The EUR/USD pair appreciated by +0.73% from 1.0760 to 1.0839. European stock market indices, particularly banking stocks, started to rise again this week. The latter benefited from an improvement in economic sentiment following of the reassuring speech of the President of the ECB, Christine Lagarde. She reaffirmed the solidity of the European banking sector in terms of capital and liquidity.
At the end of the week, preliminary inflation in the Euro Zone came out at 6.9% in March, below expectations of 7.1%.
The MAD appreciates this week against the Dollar. The USD/MAD pair fell -0.71% from 10.29 to 10.22 in one week.
This change is explained by a basket effect of -0.81% related to the sharp rise in the euro this week and a market effect of +0.10%.
Dirham liquidity spreads appreciated by +10 BPS this week to 3.15%. In our view, the latter should fall slightly on the ST due to the rebalancing of import and export flows.
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Sur le même thème
MAD Insights march 31st, 2023
The MAD appreciates this week against the dollar. This change is explained by a basket effect of -0.53% related to the fall in the dollar this week and a market effect of -0.42%. The latter reflects an improvement in the liquidity conditions of the dirham.
MAD Insights march 22nd, 2023
The MAD appreciates this week against the dollar. The USD/MAD pair evolved by -0.45%, going from 10.44 to 10.39 in one week. This change is explained by a basket effect of -0.24% and a market effect of -0.21% related to a slight improvement in the liquidity conditions of the dirham.
MAD Insights march 17th, 2023
The MAD is depreciating this week against the dollar. The USD/MAD pair increased by +0.45% from 10.39 to 10.44. This evolution is explained by a basket effect of +0.11% and a market effect of +0.34% related to the tightening of liquidity conditions for the dirham.
