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Currency Update 17.10.2017

GBP/EUR Higher as UK Inflation Hits Five-Year High

The pound sterling exchange rate was trending higher against the US dollar (GBP/USD) and euro (GBP/EUR) this morning after the highly-anticipated UK inflation reading rose to 3.0% in September, a five-and-a-half-year high.

The September inflation data is the last consumer price index (CPI) to be released ahead of the November Monetary Policy Committee (MPC) meeting and investors are hoping that policymakers will choose to hike rates for the first time since the Global Financial Crisis (GFC). If the Bank of England (BoE) does decide to increase interest rates this year, the pound could experience another marginal uplift.

While inflation may be at a five-and-a-half-year high, real wages continue to feel the squeeze. Real wages had risen by only 2.1% in July on the year, meaning households are feeling the pinch of higher costs.

Bank of England Governor Mark Carney is also due to speak in Tuesday’s trading and his comments could be of significant influence for the pound. Any hawkish tones could help buoy the British currency, whereas any dovish statements with regards to rates could see GBP soften. If the BoE fails to hike rates by the end of the year, it’s likely that sterling will experience some significant weakness.

The GBP/EUR exchange rate is currently trending in the region of 1.1269

FC Exchange

Current rates:

Tuesday 17th October 2017 at 11:00

£1.00 GBP = 1.1269 EURO

£1.00 GBP = 1.3250 USD

£1.00 GBP = 1.6873 AUD

£1.00 GBP = 1.8455 NZD

£1.00 GBP = 1.6605 CAD

£1.00 GBP = 17.7262 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a good start and knowing the events coming up that may influence the exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets will always fluctuate, but last year saw unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen and look ahead to the issues that could affect currency markets in the next quarter and throughout 2017.

Grab your Free Report here... 

FC Exchange Market Report

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

For everything you need to know about French property visit www.clefrance.co.uk

Add Comment | Views: 137

Thank You to Your Agent

Hi Sharon,

Can you thank your local agent for his great visit yesterday, he was lovely, not pushy and seemed very honest and gave us plenty of time. We're interested in the property in Lower Normandy but need to have some idea of running costs, taxe foncière etc, which obviously the owner would know.

Many thanks, Mandy.

Buying a House in France is easy with Cle France, You can do the same, it is easy for you because WE guide YOU through the French Property Buying Process from the very start to completion and beyond!

And as several of our clients say "Follow your heart and make the move"!

Thank You Cle France

Add Comment | Views: 40

Weekly Currency Market Report 17.10.2017

UK | Sterling

GBP – May travels to Brussels to unlock 'deadlock' 

Last week 

-The pound experienced some adverse Brexit movement last week, mainly after Phillip Hammond reiterated the risks of Brexit, and chief EU Brexit negotiator Michel Barnier stated that a ‘deadlock’ had been met over how much the UK will pay when it leaves. 

-The pound managed to retrace its losses towards the end of the week after German newspaper Handelsblatt reported that Barnier could be prepared to offer Britain a two-year transition period. GBP/USD rallied over 100 pips. 

-UK industrial production jumped from 1.1% to 1.6% on the year in August, manufacturing production rose from 2.7% to 2.8%, and construction output climbed from 2.7% to 3.5%, despite forecasts for weaker numbers. 

-The Bank of England (BoE) reported that UK banks would be tightening their lending availability in coming months as Britain’s debt levels reach concerning highs. 

-Additionally, the Royal Institute of Chartered Surveyors (RICS) noted that the UK housing market had experienced a month of weakness in September. 

Week ahead 

There could be a few swings in the GBP exchange rate this week with some important events taking place. Tuesday could be a particularly exciting day with Bank of England Governor Mark Carney appearing before the Treasury and testifying to lawmakers, amid UK inflation data being published. The annual consumer price index figure is expected to climb from 2.9% to 3.0%, with September marking 0.3% growth. If the data prints in line with forecasts, UK inflation will reach a five-year high, adding further pressure to the Bank of England to hike interest rates. Meanwhile, Wednesday will see UK labour market data published, such as unemployment rate and average weekly earnings figures. UK retail sales will follow on Thursday, and public finances figures will be out on Friday. Additionally, any developments in Brexit could create some GBP movement. Theresa May will be meeting with EU negotiators on Monday to try and unblock the current situation in the hope of progressing to trade talks soon. 

Europe | Euro

EUR – Markets eye Catalonia and Austria developments  

Last week 

-The euro reached a two-week high versus the US dollar (EUR/USD) last week after some positive ecostats from the currency bloc emerged supporting speculation that the European Central Bank (ECB) will soon begin tapering its quantitative easing (QE) programme. The euro posted its most impressive weekly rise in over a month. 

-ECB President Mario Draghi poured cold water on hopes from Germany that the central bank would be increasing interest rates, saying they’d remain at their current levels ‘well past’ the end of the QE programme.  

-Catalonia situation continued to cause concerns in the market.

Week ahead

This week could be fuelled by politics as markets wait for the outcome of Catalonia’s bid for independence and investors digest the results of Austria’s election. The German and Eurozone ZEW surveys are out on Tuesday which could create some substantial EUR exchange rate movement. European Central Bank Chief Mario Draghi will also speak in Frankfurt on Wednesday, and his comments could be highly influential on the single currency. The second half of the week is quiet regarding economic data, so the euro is likely to react to events elsewhere. 

USA | US Dollar

USD - US inflation falls short for sixth time in seven months

Last week

-US inflation data disappointed last week; the consumer price index reached 2.2% in September on the year, failing to reach the forecast 2.3%, while the core figure stagnated at 1.7%. This is the sixth time in seven months that US inflation has fallen short of expectations causing speculation to rise over whether the Federal Reserve will hike interest rates once again this year.

-US advance retail sales also came in below forecasts at 1.6% rather than 1.7% in September.

-Consumer sentiment in the US made a surprise surge to a 13-year high in what’s thought to be a reflection of falling petrol prices after recent hurricanes created a jump in costs. 

Week ahead 

Friday could be an interesting day for the US dollar when Federal Reserve Chief Janet Yellen discusses monetary policy since the Global Financial Crisis (GFC). There are a host of medium-tier data releases due out, but none of high importance this week. Any developments in politics or escalation of tensions with North Korea are likely to impact US dollar movement, so investors will be watching broader events while the data calendar is light. 

Other

Japanese yen – All eyes on the election 

The yen is likely to fluctuate on political developments in the next few weeks as investors prepare for the 22nd October snap election. The election will play a critical role in determining the nation’s economic policy, and some recent polls have suggested Prime Minister Shinzo Abe is likely to strengthen his hand by calling the vote. Last week the Japanese yen managed to attain its strongest level in two weeks versus the US dollar (JPY/USD) after polls suggested Abe’s chances of maintaining his dominant position were looking positive. 

Canadian dollar - Inflation forecast to jump  

The Canadian dollar exchange rate may experience some positive movement on Friday if the latest Canadian inflation figure falls in line with expectations. The annual inflation number is expected to jump from 1.4% to 1.7% in September and may cause speculation regarding the Bank of Canada’s (BoC) next interest rate increase to rise. 

Australian dollar – Labour market data in focus

The Aussie dollar was offered some positive news last week following upbeat ecostats from Australia’s largest trading partner, China. Chinese imports managed to rise to 19.5% in September on the year, ignoring forecasts for a smaller increase to 16.5%. Chinese growth numbers are due out on Thursday and may give the Aussie some further opportunity to move. Meanwhile, the Aussie could be in for some interesting movement this week with the release of Australian labour market data on Thursday. The unemployment rate is forecast to remain stable at 5.6% in September, while the employment change figure is expected to come in at 15.0K. 

Swedish Krona - Rate hopes dwindle 

Last week the Swedish Krona fell against the pound after Swedish inflation data showed consumer prices had failed to climb as expected. Investors sold off the SEK as they priced out the possibility of shifts to tighten monetary policy.

FC Exchange

Current rates:

Tuesday 17th October 2017 at 09:15

£1.00 GBP = 1.1280 EURO

£1.00 GBP = 1.3281 USD

£1.00 GBP = 1.6904 AUD

£1.00 GBP = 1.8501 NZD

£1.00 GBP = 1.6643 CAD

£1.00 GBP = 17.6752 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a good start and knowing the events coming up that may influence the exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets will always fluctuate, but last year saw unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen and look ahead to the issues that could affect currency markets in the next quarter and throughout 2017.

Grab your Free Report here... 

FC Exchange Market Report

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

For everything you need to know about French property visit www.clefrance.co.uk

Add Comment | Views: 122

Currency Update 13.10.2017

Pound (GBP) Recovers on Brexit Hopes Following Pessimistic Press Conference

The pound managed to perform a U-turn against other currency majors at the end of the week; after falling substantially in Thursday’s European session, the British currency made a come-back after European markets closed which has continued into Friday morning’s trading. The pound was up by around 0.40% versus the euro (GBP/EUR) on Friday morning after German newspaper Handelsblatt reported that chief Brexit negotiator Michel Barnier may be willing to offer the UK a two-year transition period out of the EU.

Yesterday the pound languished against other currency majors after Barnier held a press conference with David Davis, stating that the UK hadn’t made enough progress to move on to trade talks and that there was a ‘deadlock’ over how much the UK will pay when it leaves the EU. Sterling tumbled rapidly on the pessimistic news, but the prospect of an adjustment period saw sterling rally 100 pips versus the US dollar (GBP/USD) and could prove be very sterling positive if it were to be agreed.

Meanwhile, euro weakness can also be attributed to  comments from European Central Bank (ECB) Chief Mario Draghi, and his dovish outlook on maintaining rock bottom interest rates ‘well past’ the end of the central bank’s quantitative easing programme.  Draghi stated: ‘The “well past” is very, very important in anchoring rate expectations.’

Other Eurozone nations, such as Germany, have been hoping for an interest rate increase for some time as its economy steams ahead. European Central Bank chief economist Peter Praet commented: ‘We are undoubtedly experiencing a solid, broad-based and resilient economic recovery. But there still seems to be a disconnect between growth and inflation.’

The pound to euro (GBP/EUR) exchange rate is currently residing at around 1.1222.

FC Exchange

Current rates:

Friday 13th October 2017 at 14:00

£1.00 GBP = 1.1222 EURO

£1.00 GBP = 1.3307 USD

£1.00 GBP = 1.6895 AUD

£1.00 GBP = 1.8550 NZD

£1.00 GBP = 1.6584 CAD

£1.00 GBP = 17.7022 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a good start and knowing the events coming up that may influence the exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets will always fluctuate, but last year saw unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen and look ahead to the issues that could affect currency markets in the next quarter and throughout 2017.

Grab your Free Report here... 

FC Exchange Market Report

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

For everything you need to know about French property visit www.clefrance.co.uk

Add Comment | Views: 217

Currency Update 10.10.2017

GBP pushes higher as prospects of a cabinet reshuffle emerge...

The pound moved a little higher yesterday as the prospect of a cabinet reshuffle emerged. If the PM decided to move Boris Johnson out of his current role and into a new one with less influence, it would be seen as a bold and strong move, thus increasing the chance of ending speculation over her status as Prime Minister.

The pound edged higher as political concern subsided. This coincided with commencement of the next round of negotiation talks and just as PM May delivered a speech to Parliament yesterday afternoon where she confirmed the government are preparing for the possibility of 'no deal'.

It appears this is a real possibility, after all, if neither player can identify whose side of the court the ball's in, negotiations can't be going as well as some would like to make out.

Today sees some tier 1 data from the UK. Manufacturing and industrial production numbers are scheduled for release at 0930. Trade balance figures will also be announced at the same time. These will display the latest figures between the UK and rest of the EU.

It comes at a time when the UK is very keen to finally unlock the ability to define the potential terms of trade between the two areas once the UK leaves the European Union in March 2019.

There's little else of importance on the calendar today, many participants will also be preparing for tomorrow's Fed minutes.

FC Exchange

Current rates:

Tuesday 10th October 2017 at 10:00

£1.00 GBP = 1.1190 EURO

£1.00 GBP = 1.3179 USD

£1.00 GBP = 1.6944 AUD

£1.00 GBP = 1.8649 NZD

£1.00 GBP = 1.6501 CAD

£1.00 GBP = 18.0915 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a good start and knowing the events coming up that may influence the exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets will always fluctuate, but last year saw unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen and look ahead to the issues that could affect currency markets in the next quarter and throughout 2017.

Grab your Free Report here... 

FC Exchange Market Report

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

For everything you need to know about French property visit www.clefrance.co.uk

Add Comment | Views: 142