USD/MAD: AGR revises its forecasts downwards

Attijari Global Research (AGR) has revised down its 1-, 2- and 3-month forecasts for the USD/MAD pair.

“Given the forecasts for the EUR/USD pair and the liquidity conditions in the FX market, we have revised down our forecasts for the USD/MAD pair over a 1-month, 2-month and 3-month horizon in favor of one Euro appreciation against the dollar up to 3 months compared to spot levels, MAD liquidity spreads over 1 month and 2 months compared to the Spot levels will relax then tighten slightly over a three-month period to return to current levels.say analysts in the latest MAD Insights.

Under these conditions, the target USD/MAD parity levels are 9.97, 10.00 and 10.05 over 1, 2 and 3 month time horizons versus a spot price of 10.07. The EUR/MAD parity target is 10.29; 10.32 and 10.37 over a time horizon of 1, 2 and 3 months versus a spot price of 10.35