# Rate differential drives bullish bets on the real

> Local institutional investors' bets in favor of the real surpassed $10 billion on September 18, 2024, the first time above that level since April. Foreign investors remained positioned for a stronger dollar at about $70 billion.

- Date: 2024-09-20 · published 2024-09-20T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/28518-rate-differential-drives-bullish-bets-on-the-real
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Positioning shows currency sentiment shifting toward the real on a wider Brazil-US rate gap, which tends to make Brazilian commodity exports less competitive at the margin.

## Read by commodity

- USDBRL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-07-23 | [Brazil's real gains on rate-hike bets, but loses for the week \| Financial Post](https://feedsoft.ai/events/46261-brazil-s-real-gains-on-rate-hike-bets-but-loses-for-the-week-financial-post.md) | -3.0% | +3.8% |
| USDBRL | 2026-06-16 | [Goldman Sachs stays bullish on Brazil’s real despite election risks](https://feedsoft.ai/events/10643-goldman-sachs-stays-bullish-on-brazil-s-real-despite-election-risks.md) | +2.5% | +0.5% |
| USDBRL | 2026-01-30 | [Real strengthens as easing bets rise; Ibovespa slips on tech sell-off](https://feedsoft.ai/events/21251-real-strengthens-as-easing-bets-rise-ibovespa-slips-on-tech-sell-off.md) | +0.9% | -1.5% |
| USDBRL | 2025-01-29 | [Foreign investors cut bets against the real by $19.3bn](https://feedsoft.ai/events/26710-foreign-investors-cut-bets-against-the-real-by-19-3bn.md) | -1.7% | -1.4% |
| USDBRL | 2021-12-08 | [Brazil's real rallies over 1% ahead of interest rate decision \| Financial Post](https://feedsoft.ai/events/43829-brazil-s-real-rallies-over-1-ahead-of-interest-rate-decision-financial-post.md) | +0.7% | +1.3% |

## Sources

- valorinternational.globo.com: https://valorinternational.globo.com/markets/news/2024/09/20/rate-differential-drives-bullish-bets-on-the-real.ghtml

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.