INTERNATIONAL HIGHLIGHTS
The Dirham appreciated against the Dollar this week to 10.05 against 10.03 the previous week, a variation of
+0.17%.
This latter is mainly explained by a positive basket effect which stands at +0.27% following the appreciation of the Dollar this week. The market effect, for its part, comes out negative at -0.10% in favor of the Dirham.
Liquidity spreads thus decrease by -10 BPS, to a level of 03/12 03/13 03/14 1.50%. This is due to lower import flows this week.
Financial markets anticipate a first rate cut in June for the Fed and the ECB but such a scenario remains uncertain
given the rebound in inflation observed in the United States during February.
The main international brokers anticipate an appreciation of the Dollar against the Euro on the ST.
We recommend importers to hedge their operations in Dollars over time horizons of 1 month to 3 months.
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