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Still Awaiting Confirmation of New President, USDPEN Steady

PERU
  • Peruvians were still waiting on Monday for their next president to be confirmed, more than a week after a polarizing run-off vote, with socialist Pedro Castillo clinging to a narrow lead that would tilt the country firmly to the left.
  • The election count, which has increased by less than 0.02% since Saturday and stands at 99.953% tallied, showed the former teacher with 50.14% of the vote, fewer than 50,000 votes ahead of right-wing rival Keiko Fujimori.
  • USDPEN continues to consolidate around 3.90 having rejected 4.00 in the direct aftermath of the runoff.
    • April Economic Activity YoY, est. 60.0%, prior 18.2%
    • Lima Unemployment rate also expected at 1600BST/1100ET (Prior reading 15.1%)
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