# Brazilian real likely to strengthen further | Lombard Odier

> Lombard Odier argues the Brazilian real has not yet priced in expected structural reforms despite its recent rally. It expects the pro-reform speaker of the lower House to be re-elected in February's congressional elections, which could bring inflows into Brazilian assets and support further BRL gains.

- Date: 2019-01-29 · published 2019-01-29T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/61297-brazilian-real-likely-to-strengthen-further-lombard-odier
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A stronger real makes Brazilian commodity exports pricier in dollar terms, which can firm offshore soybean and meal prices if Brazilian sellers hold back, while a weaker real has the opposite effect.

## Read by commodity

- SBM: neutral
- USDBRL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2025-09-18 | [Brazilian Real Strengthens to Over 1-Year High](https://feedsoft.ai/events/23089-brazilian-real-strengthens-to-over-1-year-high.md) | +0.2% | +2.4% |
| USDBRL | 2025-12-03 | [Brazilian Real Strengthens for 2nd Session](https://feedsoft.ai/events/8058-brazilian-real-strengthens-for-2nd-session.md) | +1.8% | +2.5% |
| USDBRL | 2021-06-23 | [Brazil real to strengthen 'much more', says economy minister \| Reuters](https://feedsoft.ai/events/46793-brazil-real-to-strengthen-much-more-says-economy-minister-reuters.md) | -1.2% | +4.6% |
| USDBRL | 2026-09-25 | [Brazilian Real Strengthens Following Inflation Data — TradingView News](https://feedsoft.ai/events/17668-brazilian-real-strengthens-following-inflation-data-tradingview-news.md) | +0.7% | -3.0% |
| USDBRL | 2020-06-29 | [Brazilian Real Strengthens on EM Risk Appetite, Falling COVID-19 Cases](https://feedsoft.ai/events/52813-brazilian-real-strengthens-on-em-risk-appetite-falling-covid-19-cases.md) | -2.8% | -5.2% |
| SBM | 2025-12-03 | [Brazilian Real Strengthens for 2nd Session](https://feedsoft.ai/events/8058-brazilian-real-strengthens-for-2nd-session.md) | -3.2% | -4.0% |
| SBM | 2016-11-10 | [USD/BRL: Brazilian real tumbles to lowest since June — Octa](https://feedsoft.ai/events/5468-usd-brl-brazilian-real-tumbles-to-lowest-since-june-octa.md) | +0.0% | +1.9% |
| SBM | 2024-08-09 | [Brazil: Real Trouble?](https://feedsoft.ai/events/11943-brazil-real-trouble.md) | -7.2% | -3.9% |

## Sources

- lombardodier.com: https://www.lombardodier.com/contents/corporate-news/investment-insights/2019/january/brazilian-real-likely-to-strengt.html

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