5,332 Deaths, 51,633 Confirmed Cases

The death toll from COVID-19 rose to 5,332 after 155 new cases were reported. The infection account rose to 51,633 confirmed cases, recording 2,414 more cases than yesterday, the Ministry of Health has reported.

During today´s briefing, Deputy Minister of Health Hugo López-Gatell said there are still 13 days before the mandatory social distancing program concludes. “To those who think that it is over, I remind you that provisional suspension continues for work not classified as essential,” he said.

López-Gatell reported that 20 percent of patients have required general hospitalization and 5 percent have required intensive care. Over 177,133 people have been tested so far.

IMSS Economic and Social Benefits head Mauricio Hernández said there has been 2,496 work incapacities related to the virus so far.

As of Monday, May 18

2,414     new cases (from yesterday)

51,633   confirmed cases nationwide

26,933   under investigation

5,332     deaths

Impact on markets (19.30 hrs)

US Dollar              MX$23.73            (-1.16%)

BMV IPC               37,112.46             (3.98%)

Dow Jones          24,597.37             (3.85%)

Technical Health and Safety Guidelines

A new workplace with labor distancing measures, check points accesses, training, hygiene protocols (for staff and facilities) and the use of personal protection gear will be mandatory to resume operations after the COVID-19 contingency, the Ministry of Labor (STPS) has stated. In the 33-page document named Technical Health and Safety Guidelines for the Workplace, released by the federal government today, STPS says all companies must guarantee a safe working space by  following a 7-step action plan. According to the document construction, mining and auto parts manufacturers, expected to reopen as early as next week, will need IMSS’s authorization to resume operations.

Mexico City reactivation plan

Mexico City Head of Government Claudia Sheinbaum announced that next Wednesday she will present the phased reopening plan for some activities in Mexico’s capital city and State of Mexico neighboring municipalities. Sheinbaum explained her administration has been working in coordination State of Mexico authorities, given that the metropolitan area has ​​22 million people and joint strategy was needed. “We will be announcing the conditions and probable starting dates of different activities,” she said.

Oil rises worldwide

Oil prices rose at the start of the week to a two-month high, amid positive results in the development of a COVID-19 vaccine, optimism about the reopening of some economies and production cuts in the main oil producing countries. Brent futures for July gained 7.1 percent ending at US$34.81 per barrel and WTI rose 8.1 percent to US$31.82, both recording the highest prices since March 11. The price of the Mexican crude basket has risen 113.84 percent so far in May, reaching US$26.73 per barrel today according to PEMEX.

Stock markets on a streak

BMV IPC index started the week with a 3.98 percent gain, the highest since March 25, and in line with the US and European stock markets good results. IPC again closed at 37,112.46 units, reducing its yearly accumulated loss to -14.90 percent. In Europe, London's FTSE 100 rose 4.29 percent, while Germany's DAX and France's CAC 40 had increases over 5 percent.

No single date to return to school

Minister of Public Education (SEP) Esteban Moctezuma ruled out one single date to return to face-to-face classes in schools, since it will be each state’s responsibility to make a final decision on the reopening, even if the traffic light is at green. “It will not be possible or convenient for anyone to apply one single central measure  to the whole country,” he said.

Peso starts week at 23.73

The peso ended the first session of the week with gains against the US dollar. The exchange rate closed at MX$23.73 against MX$24.01 recorded last Friday according to Banxico. Global progress to end confinement and expectations of a reopening drove the good result according to analysts.