Attijari Global Research (AGR) has updated its forecasts for the USD/MAD (US Dollar/Dirham) currency pair over the 1, 2, and 3-month horizons. This revision considers the anticipated EUR/USD (Euro/US Dollar) exchange rate movements and liquidity conditions in the foreign exchange market. According to AGR’s latest “Weekly MAD Insight-Currencies” report, covering the period from July 8 to July 12, broker forecasts suggest a strengthening of the US dollar over the next three months compared to current spot levels.
Analysts at AGR predict that the MAD liquidity spreads will continue to ease over the next month due to the summer period, but will tighten again over the 2 and 3-month horizons compared to current spot levels.
Based on these conditions, AGR’s target levels for the USD/MAD exchange rate are projected to be 9.99, 10.04, and 10.09 for the 1, 2, and 3-month horizons, respectively, against a current spot rate of 9.82.
For the EUR/MAD (Euro/Dirham) exchange rate, AGR forecasts target levels of 10.54, 10.59, and 10.65 over the same horizons, compared to a current spot rate of 10.70.
