UK | Sterling

Tuesday 26th April at 10:00 - £1.00 GBP = 1.2896 EUR

Yesterday was a very quiet day with little fundamental data being released. CBI industrial trends released higher than expected at -11, compared with its forecast of -15, however, this did little to move the markets as it is considered lower tier data.

The ‘Obama-effect’ appears to have taken hold as sterling continued its bull run, testing one-week highs of 1.45 (Interbank) against the US dollar. Gains have cooled slightly and we start the day just below 1.45 (IB) as we enter the European session this morning. Analysts believe that the range of $1.40-$1.45 for the currency pair is fairly sticky though we could break out of this range if positive sentiment continues.

The Obama Effect

GBP/EUR also strengthened and continues to trade in the higher levels of the 1.28s (IB) after the currency appreciated over 1% last Friday, following comments from Obama regarding his stance on Brexit. Whilst writing the report, we have seen the psychological level of 1.29 broken.

Again, it is a quiet day for sterling, with little market-moving economic data coming out, so the currency will be at the mercy of the markets and any more news regarding Brexit.

Europe | Euro

Is the German machine running low on fuel?

Yesterday’s data from the European bloc kicked the week off with the German IFO business climate numbers and expectations. This release showed that German business confidence has marginally slowed. Figures from the German IFO, which surveys over 7,000 business, indicated that Europe’s largest economy is losing some pace, with the index falling to 106.6 in April from 106.7 the previous month. However, the mood in the German economy still remains resilient with little movement in the early morning session following the release.

In other news, Greece has come back on to the agenda leading to further uncertainty on the horizon. Meetings amongst the euro-group members have been unsuccessful in the plight to stop a default on the next payment in July, thus casting a shadow over the European bloc over the short to medium term. This could mean a potential weakness for the single currency if the situation continues to be unresolved.

Economic data is thin on the ground today, the next batch of significant data of note from the eurozone is on Thursday, when the unemployment change and unemployment rate figures are released, along with consumer confidence and business climate numbers. With the euro shrugging off yesterday’s German IFO figures, the markets will be watching the coming releases closely.  

USA | US Dollar

Housing markets continue the trend

New home sales data came out once again at a disappointing 511k from a previous figure of 519k. Although the figures seem to be showing slumped demand, cheap borrowing costs and solid hiring figures should help ensure that real estate in the US continues to expand.

GBP/USD finished the London session with a 0.5% gain, with the day’s data release causing negligible volatility in the pair. The EUR/USD pair also finished off with a 0.46% gain.

As for today, we have some mid-tier economic data scheduled, including durable goods orders and conference board consumer confidence. Some volatility for the dollar could be a possibility throughout the day with the figures due at 1.30pm and 3.00pm respectively. Although the data releases today may have an effect on the currency, investor’s eyes will be on the all-important crude oil inventories and federal statements due out on Wednesday.

Elsewhere

Uncertainty in Japan

The Japanese yen shot up on Monday, pulling away from multi-week lows against the euro and the US dollar, as the market anticipates Thursday’s Bank of Japan monetary policy meeting. Rumours from Japanese experts that we are likely to see fresh stimulus delivered on Thursday led the market to start the week in a hectic manner. It will be interesting to see how this develops as we get closer to Thursday.

In terms of data releases, today is another quiet day. The only point of note will be Bank of Canada Governor Poloz speaking this afternoon at the Canada-US Securities Summit in New York. Markets will be looking to a packed day tomorrow as we have data due out from Australia, New Zealand and Japan.

Data Releases Today

13:30:  USD, Core Durable Goods Orders m/m

13:30:  USD, Durable Goods Orders m/m

13:55:  CAD, BOC Gov Poloz Speaks

15:00:  USD, CB Consumer Confidence

18:00:  GBP, MPC Member Cunliffe Speaks

23:45:  NZD, Trade Balance

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.

Blog submitted by: Ben Amrany for The French Property Network - Cle France.

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

Brits Can't get Enough

Despite doubts over UK citizens about whether to stay in Europe, when it comes to European real estate, the Brits can’t get enough.

That’s the conclusion from the latest Top of the Props report from leading consumer property website 'The Move Channel', which saw Europe take five out of March’s Top 10 destination places.

The survey showed that demand for European real estate rose, led by France with Spanish property in second place and Portugal in third, even though the pound has recently declined against the Euro due to the uncertainly over the Brexit vote in June.

At Cle France viewing trips are up by 37% year on year even with April showers!

Despite Brexit doubts, Brits still love European Property.

Spanish property drew 5.63% of total activity on the website, up from 3.48% in February 2016, while Portugal accounted for 2.86%. Turkey is in fourth on 2.86%, re-entering the Top Five for the second time in the first three months of 2016.

North America property also made a strong showing, with USA remaining the top destination, accounting for 13.45% of all enquiries and Canada also holding steady in fifth place on 2.61%.

The Move Channel Director Dan Johnson says, “Britain may be debating a Brexit, but buyers are still in love with European property"

“Despite the pound weakening against the euro in recent months, demand remains strong for the continent’s familiar holiday home hotspots, with Spain, Portugal, Italy and France all still in the Top Ten destinations"

Ask Cle France a Question.

Cle France have Property for sale in France through a large network of around 150 Cle France Agents who are French Registered Estate Agents.

Cle France add hundreds of new French property for sale added everyday! SIGN UP to our mailing list to keep up to date.

We have over 8000 houses for sale in France ranging from cheap houses to renovate right up to Luxury Dream Homes and perfectly charming Holiday Homes for sale. Countryside, town, village and coastal property for sale.

Create an account so that you can Save individual Properties and Searches on the website. Any updates to those properties and searches will be emailed to you on a regular basis.

Blog submitted by: Alex at The French Property Network - Cle France.

Change in GBP sentiment

Sentiment regarding GBP has shifted since last week and heading into this week.

In light of recent polls and American President Barack Obama supporting the ‘Remain’ campaign, the Pound has rallied since its recent lows.

How long this change in sentiment lasts remains to be seen, however, if you have a requirement to buy EUROS, now is a good opportunity to take advantage of the recent strength in the Pound.

If you have a requirement before the June referendum [23rd June] if you contact us you are able to fix the rate today for a date in the future to protect against any further downside.

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.

Blog submitted by: Ben Amrany for The French Property Network - Cle France.

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

Changes to Notaires’ fees makes buying a French Property cheaper.

Recent reforms to Notaires’ fees will be coming into effect on 1st May 2016 and they will allow Notaires to be able to offer discounts to French Property Buyers, making your French property purchase even cheaper, yes that means you!

More Good News.

The reforms are part of the "Loi Macron" which has the aim of making French Property more commercially competitive and this is always welcome news for British buyers of French property especially as compared to the UK, French property is amazing value already.

Maximum Fees in place for the first time.

From 1st May 2016 the maximum fee a Notaire will be able to charge is 10% of the sale price with a minimum fee of 90 euros. This could result in substantial savings of up to 70% on low value property purchases.

As an Example - Buying a plot of land for €3,000 will now only incur a Notaire’s fee of 300 euros instead of the previous 900 euros.

For sales of 150,000 euros or more Notaires will be able to offer a discretionary discount of up to 10% of their fees. A key point however is that they are 'not required to tell the buyer' that this discretionary discount is available and so buyers should establish if this discount is to be applied at the outset and obtain written confirmation of any discount given.

However don't get too excited as these discounts only apply to the actual "Notaire’s fee" part of the Notaire's fee, let me explain...

The discretionary discount is available only on the part of the Notaire's fee that the Notaire earns, not to the taxes and charges which the Notaire collects for the government on completion. The term ‘Frais de Notaire’ (Notaire’s Fees) includes these taxes and charges and so the discount doesn’t apply to the whole amount.

So good news, we all like a discount and a saving after all and as a general point this change will only make the cost of buying a property in France cheaper than before so that is a welcome step.

Ask Cle France a Question.

Cle France have Property for sale in France through a large network of around 150 Cle France Agents who are French Registered Estate Agents.

Cle France add hundreds of new French property for sale added everyday! SIGN UP to our mailing list to keep up to date.

We have over 8000 houses for sale in France ranging from cheap houses to renovate right up to Luxury Dream Homes and perfectly charming Holiday Homes for sale. Countryside, town, village and coastal property for sale.

Create an account so that you can Save individual Properties and Searches on the website. Any updates to those properties and searches will be emailed to you on a regular basis.

Blog submitted by: Alex at The French Property Network - Cle France.

With Easter being early this year we would expect our property sale numbers to be higher in March this year versus 2015 but we had a better than expected 70% increase in March building on a 55% increase in property sales year on year in February. April is shaping up to be another bumper month as well.

So the UK’s EU Referendum does not seem to be deterring Brits from buying homes in France.

The one thing that the EU Referendum is doing however is causing some financial uncertainty but there is a solution for that. Once you have found your dream home with Cle France you can secure the right price now, regardless of the outcome of the EU referendum, how?

By using FC Exchange specialist currency services to protect against any impact on exchange rates.

Read more here.

- Brits still want a holiday home in the sun...

This is still the main reason for British buyers buying a property in France i.e. to use it as a Holiday Home, France remains the top destination country for Brits wanting a regular place that they can enjoy year after year and for it to be a sound investment as well.

- Brits still want to move to France...

Most buyers want a property in Europe for lifestyle reasons, enjoying a better way of life is what we all want isn't it? and  a warmer climate is a bonus too. That is not going to change anytime soon whatever the EU referendum result.

- Will Brits still be able to buy property in France?

France along with most European countries rely on the stream of income from British property buyers and expats to boost their national and local economies, it is therefore unlikely there will be any changes that would affect the ability of international buyers and especially the British from purchasing property as second homes or for full time living, regardless of the outcome of the EU referendum vote.

- The financial implications of the referendum...

Ben Amrany at FC Exchange suggests securing the price of your property to avoid the risk of losing money on your purchase, regardless of the EU referendum outcome, there is still no better solution than being prepared and staying 'ahead of the game'.

- Our top tip for you...

You can actually 'protect' the price of the property you want to buy from going up due to exchange rate fluctuations, regardless of the outcome of the EU referendum.

Secure your property at the price you expect by using a Forward Contract.

This allows you to set a rate now for future transfers, protecting you from any adverse exchange rate movements and ensuring you know exactly how much you have to budget.

We say "It’ has to be a sensible option at a time when the sterling exchange rate is uncertain".

Fixing your exchange rate in advance

Exchange rates can fluctuate dramatically so it can be risky to leave yourself open to market movements when converting money from one currency to another. Of course the rate could move in your favour, however, it could also move enough against you to completely ruin your budget and your plans.

A Forward contract with FC Exchange means you can fix your exchange rate for up to two years in advance, so you’ll know exactly how much you’ll get when you make your international money transfer. This makes budgeting a great deal easier and a lot of stress is removed.

How does a Forward contract work?

Call us to discuss things like the amount of money you are looking to exchange and the time frames you have to work within. We can look into rates for you which can be used to calculate the exact sums of both currencies involved – you’ll know exactly what you’re getting.

If you want to go ahead, we will agree the exchange rate at which your money will be transferred in the future. You will send us a deposit (this is not an extra cost; it’s deducted from the balance you pay in the future). Then, when the transaction reaches the ‘settlement date’, you pay us the balance at the pre-agreed rate. All you need to do then is tell us where to send your money.

Forward contracts can be ideal if you don’t need to make a payment immediately but you can’t afford for the exchange rate to be moving wildly. If, for example, you’ve agreed to buy or sell a house overseas, but the completion date is a few weeks or months away, a Forward contract lets you guarantee the exchange rate, so you know exactly what the house will cost on completion day.

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.   

Blog submitted by: Alex at The French Property Network - Cle France.