EXECUTIVE SUMMARY
The USD/MAD pair depreciated this week by -0.57% from 10.06 to 10.00 after remaining above 10 MAD throughout the week.
At the origin of this development, a negative basket effect which comes out at -0.77% in connection with the rebound of the Euro this week. The market effect, for its part, comes out positive this week at +0.20%.
The liquidity spreads of the MAD have thus tightened by +19 BPS to -0.84%. The good performance of export flows has made it possible to maintain these spreads in negative territory. The latter should readjust slightly upwards over the next 3 months.
The election of Trump in the United States and the escalation of tensions between Russia and Ukraine have led to a rally to the Dollar. The impact of Trump’s tariff increases on the economy and inflation remains uncertain.
Given the uncertainties and volatility of the foreign exchange market, we recommend that traders hedge their operations over a 3-month horizon.
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Sur le même thème
MAD Insights November 29th 2024
USD/MAD pair appreciated this week by +0.79%, going from 9.98 to 10.06, a high of more than 6 months.This evolution is due to a positive basket effect. This comes out at +0.79% related to the appreciation of the Dollar against the Euro this week.
MAD Insights November 22nd 2024
The USD/MAD pair appreciated this week by +1.06%, up from 9.88 to 9.98, a 5-month high.This evolution is explained by a positive basket effect. It comes out at +1.22% after the appreciation of the Dollar against the Euro this week. The market effect comes out to be less significant at -0.16% in favor of the Dirham.
MAD Insights November 13th 2024
This evolution is mainly explained by a positive basket effect. This comes out at +0.53% after the appreciation of the Dollar against the Euro this week. The market effect, for its part, comes out to less significant at -0.05%, i.e. a marginal impact in favor of the Dirham.
