During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
An important indicator may support the USD
The United States will release the level of preliminary GDP growth on August 29, at 15:30 MT time.
The GDP growth shows the change in the value of all goods and services produced by the economy. Economists pay attention to this indicator as it represents the economic activity of a country. According to the forecasts, the indicator will advance by 2%.
• If the actual level of indicator is higher than the forecast, the USD will rise;
• If the actual level of indicator is lower than the forecast, the USD will fall.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.