Attijari Global Research (AGR) has raised its forecast for the USD/MAD currency pair in its “Weekly Mad Insights – Currencies” note for the period from June 24 to 28.
“Considering the EUR/USD parity forecasts and liquidity conditions in the foreign exchange market, we have revised our USD/MAD projections upward for the next two months,” AGR stated.
According to AGR, broker forecasts for the EUR/USD pair indicate a dollar appreciation over the next three months compared to current spot levels.
AGR anticipates that MAD liquidity spreads will ease over the next one to two months during the summer period, before tightening again in three months relative to the current spot rate.
Under these conditions, AGR has set target levels for the USD/MAD pair at 10.00, 10.05, and 10.10 for the one, two, and three-month horizons, respectively, compared to the current spot rate of 9.97.
For the EUR/MAD pair, the target levels are 10.53, 10.59, and 10.64 for the one, two, and three-month horizons, respectively, compared to the current spot rate of 10.67.
