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Finance Minister Rules Out Another Shutdown Despite Rising Cases

MEXICO
  • The Mexican Peso held in fairly well yesterday, despite the volatility seen in G10FX. Quick bouts of dollar demand have been well sold above 20.10 in USDMXN with the local currency gaining this morning and the pair edging closer to 19.90.
  • Today, Mexico to release nominal wages for June. The Labour Ministry registered a 4.4% rise the previous month. Separately, Finance Minister Arturo Herrera to meet with finance ministers and central bankers at G20 summit in Venice.
  • Mexico Covid-19 cases rose by 9,452, the highest daily increase since Feb. 13, according to data updated by the government Thursday. That marks the third day in a row cases have risen by the highest amount since February. Deaths rose 266.
  • Mexico Finance Minister Arturo Herrera ruled out another economic shutdown even with the rising cases, saying hospitalizations and deaths haven't been increasing at the same rate, El Financiero reported Wednesday.
    • General hospital bed occupancy rose 1ppt to 22%; ventilator bed occupancy rose 1ppt to 19%
    • Mexico has administered 49,202,252 doses of vaccine against coronavirus; 20,355,222 people fully vaccinated; 34,155,903 people have received at least one dose. (BBG)
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