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?
The USD may be supported by the releases
The United States anticipates the release of headline and core durable goods orders on May 24, at 15:30 MT time. The indicator represents the change in the total value of new purchase orders for durable goods. Its core level excludes transportation orders due to their high volatility. Rising purchase orders signal that manufacturers will increase their activity. This fact demonstrates the importance of the indicator. Last time the actual level of the headline indicator came out significantly higher than the forecasts (2.7% vs. 0.7%). The core indicator also advanced by 0.4% If the situation repeats itself, the USD will get positive momentum.
• If the actual levels of indicators are higher than the forecasts, the USD will rise;
• If the actual levels of indicators are lower than the forecasts, 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.