64,414 Deaths, 599,560 Positive Cases

The Ministry of Health reported 256 deaths from COVID-19 in the last 24 hours, raising the death toll to 64,414. A further 3,719 infections since yesterday were confirmed, increasing the national total to 599,560 cases of which 38,923 are estimated to be active or symptomatic over the last 14 days.

Active cases represent 6 percent of the accumulated total, Director of Epidemiology José Luis Alomía said in today’s briefing at the National Palace. There are 77,730 suspected cases and 668,193 who have tested negative since the pandemic started. Likewise, 416,738 people have recovered from the new virus.

Alomía highlighted that Mexico has maintained a stable downward trend in infections, while other counties are struggling to handle the pandemic. He explained that Peru, the US and Brazil have the highest number of infections in the Americas, based on population size, and that India and France reported a significant increase in cases in recent weeks.

As of Monday, August 31

3,719 new cases (since yesterday)

599,560 confirmed cases nationwide

77,730   under investigation

64,414   deaths

Impact on Markets (19.30 hrs)

US Dollar              MX$21.90            (0.45%)

BMV IPC               36,840.73             (-2.52%)

Dow Jones          28,430.05             (-0.78%)

Peso Ends August With Gains

The peso lost some ground against the US dollar at the end of August but this did not keep the national currency from registering its second month in positive territory, Banxico reported. The weakening of the greenback in international markets favored the Mexican currency during the eight month of the year, which hit a maximum of MX$22.90 on Aug. 4 and a minimum of MX$21.74 early on Sunday, Aug. 30, during the opening of Asian markets. Overall, the peso gained 1.37 percent or 31 cents in August.

Mexico City Reports Stable Hospitalizations

General hospitalization for COVID-19 cases in Mexico City have remained stable over the past 15 days, Head of Government Claudia Sheinbaum said. “This is more or less constant, with ups and downs. Over the past 15 days, the same number of beds has been occupied,” Sheinbaum noted in her daily briefing.

Possible Reinfection Case Investigated

IMSS is still analyzing the first possible case of COVID-19 reinfection in Mexico and the profile of the 27-year-old resident whose chronic case was reported by the Immunochemical Medical Research Unit (UIMIQ).

COPARMEX Warns About Infrastructure Plan

For the national infrastructure plan to be successful, the federal government must invest at least 5 percent of the national GDP to encourage private capital participation, COPARMEX head Gustavo de Hoyos said.

Undersecretariat of Mining Terminated

Under the flag of austerity, the Ministry of Economy announced the termination of the Undersecretariat of Mining as of Sep. 1. “This measure responds to the presidential decree published on April 23, 2020 in the Official Gazette of the Federation (DOF),” the Ministry of Economy said in a statement.

US Has 25 Percent of Global COVID-19 Deaths

The US has exceeded 6 million cases of COVID-19, according to the Johns Hopkins University (JHU) database. The US is also the most affected country in total deaths at 183,000, almost 25 percent of the total deaths recorded worldwide.

Zoom Reports Strong Results

As it moves forward to convert its huge free userbase to paid subscriptions, Zoom Video Communications increased its annual revenue forecast by more than 30 percent after comfortably beating quarterly estimates on Monday. Zoom shares, which have nearly quadrupled this year, climbed 9.3 percent after the end of today’s trading, still boosted by a massive increase in videoconference users.