# Latam FX Talking: The beneficiary of emerging market portfolio flows | articles | ING THINK

> ING expects the Brazilian real to outperform as the Selic rate, at 13.75%, starts an easing cycle with roughly 400bp of cuts over the next year. The outlook also cites improving reform prospects and lower inflation, and a Mexican peso section is included.

- Date: 2023-07-14 · published 2023-07-14T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/35242-latam-fx-talking-the-beneficiary-of-emerging-market-portfolio-flows-articles
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Expected easing and a firmer real can shift Brazilian export competitiveness and origin pricing for soy and corn, a factor for feed buyers tracking Brazilian supply.

## Read by commodity

- USDBRL: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-07-10 | [Latam FX Talking: Making the most of a short-lived rebound \| articles \| ING THINK](https://feedsoft.ai/events/9456-latam-fx-talking-making-the-most-of-a-short-lived-rebound-articles-ing-think.md) | +0.5% | +3.9% |
| USDBRL | 2023-04-11 | [Latam FX Talking: Temporary setback for the Mexican peso \| articles \| ING THINK](https://feedsoft.ai/events/36612-latam-fx-talking-temporary-setback-for-the-mexican-peso-articles-ing-think.md) | -2.7% | -1.8% |
| USDBRL | 2025-09-15 | [Latam FX Talking: Carry trade remains the dominant theme \| articles \| ING THINK](https://feedsoft.ai/events/23090-latam-fx-talking-carry-trade-remains-the-dominant-theme-articles-ing-think.md) | -0.5% | +2.4% |
| USDBRL | 2023-09-11 | [Latam FX Talking: Large easing cycles in Brazil and Chile \| articles \| ING THINK](https://feedsoft.ai/events/34324-latam-fx-talking-large-easing-cycles-in-brazil-and-chile-articles-ing-think.md) | -2.2% | +3.6% |
| USDBRL | 2021-11-17 | [LATAM FX Outlook 2022: Return of the Pink Tide? \| articles \| ING THINK](https://feedsoft.ai/events/44256-latam-fx-outlook-2022-return-of-the-pink-tide-articles-ing-think.md) | +2.7% | +3.9% |

## Sources

- think.ing.com: https://think.ing.com/articles/latam-fx-talking-em-portfolio-flows/

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