INTERNATIONAL HIGHLIGHTS
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. The market effect, for its part, comes out neutral this week.
The liquidity spreads of the Dirham have thus stabilized at -1.03%. Despite the end of the summer period, the good performance of export flows has made it possible to maintain these spreads in negative territory. However, the latter would gradually readjust upwards over a 3-months horizon.
The election of Trump in the United States and the escalation of tensions between Russia and Ukraine have greatly benefited the Dollar. The EUR/USD has continued a downward trend since the beginning of November, going from 1.08 to 1.04. This significant
movement could continue until parity.
Taking into account the uncertainties and volatility of the foreign exchange market, we recommend traders to hedge their transactions over a 3-months horizon.
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