# Foreign capital inflows unlikely to make real much stronger, Citi says

> Citi's head of global markets for Brazil, Eduardo Miszputen, said foreign capital inflows are unlikely to push the real much stronger in 2024. He expects external factors such as US interest rates, two ongoing wars and the US election to drive volatility, while commodity prices and the trade balance give less support than in 2023.

- Date: 2024-01-30 · published 2024-01-30T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/32324-foreign-capital-inflows-unlikely-to-make-real-much-stronger-citi-says
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker-than-last-year commodity and trade balance support for the real keeps Brazil's currency relatively cheap, which favors Brazilian export volumes of soy and corn into world markets.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2020-06-01 | [Brazil cannot rely on foreign funding in short term, says central bank chief](https://feedsoft.ai/events/7614-brazil-cannot-rely-on-foreign-funding-in-short-term-says-central-bank-chief.md) | -8.7% | +0.8% |
| USDBRL | 2022-06-14 | [Analysis: Exchange rate unlikely to mean trouble for Brazil’s Central Bank](https://feedsoft.ai/events/11313-analysis-exchange-rate-unlikely-to-mean-trouble-for-brazil-s-central-bank.md) | +0.7% | +5.4% |
| USDBRL | 2024-05-09 | [Slower easing cycle may not provide relief for the real \| Capital Economics](https://feedsoft.ai/events/30476-slower-easing-cycle-may-not-provide-relief-for-the-real-capital-economics.md) | +1.3% | +3.8% |
| USDBRL | 2025-11-03 | [Foreign investors go bearish on Brazilian real](https://feedsoft.ai/events/22162-foreign-investors-go-bearish-on-brazilian-real.md) | -0.8% | -0.8% |
| USDBRL | 2020-03-12 | [Is coronavirus the only one to blame for Brazilian Real’s rout?](https://feedsoft.ai/events/6395-is-coronavirus-the-only-one-to-blame-for-brazilian-real-s-rout.md) | +9.2% | +10.4% |

## Sources

- valorinternational.globo.com: https://valorinternational.globo.com/markets/news/2024/01/30/foreign-capital-inflows-unlikely-to-make-real-much-stronger-citi-says.ghtml

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