AGR lowers its forecasts for the USD/MAD pair

Attijari Global Research (AGR) has its 1-, 2- and 3-month forecasts for the USD/MAD pair in its Weekly Mad Insights – Currencies note covering the period from December 30, 2024 to January 3, 2025 corrected downwards. .

“These forecasts take into account the EUR/USD parity and liquidity conditions in the foreign exchange market,” states AGR. In fact, brokers’ EUR/USD forecasts suggest a very slight appreciation of the euro against the dollar over the next three months compared to spot levels.

Dirham liquidity spreads, in turn, should relax relative to spot levels over one month and two months and then narrow slightly over three months in line with current levels.

Under these conditions, the target USD/MAD parity levels are 10.02, 10.02 and 10.07 over 1, 2 and 3 month time horizons versus a spot price of 10.10. EUR/MAD parity target levels are 10.34, 10.34 and 10.39 over 1, 2 and 3 month time horizons, compared to a spot price of 10.39.