Clé France

GBP: Any more reasons to rally?

Sterling recorded its best quarterly performance in nearly three years during Q1 of this year. It’s a well-deserved rally when you consider the progress on Brexit and talk of imminent rate hikes. 

However, this morning’s UK manufacturing PMIs is a reminder that the economy is not exactly booming. In fact, the construction sector is in recession and large swathes of retailers and restaurants are struggling to stay afloat. 

Tomorrow we get the all-important Services PMI. Services represent two-thirds of the economy, so it will be a good test for Sterling’s strength.

EUR: Reassuringly dull

The EU has done well so far to stay out of Trump’s ‘trade wars’. It’s giving the Euro a newfound safe-haven status. 

The gains from geopolitical rotation helped offset a poor showing yesterday from German retail sales which came in quite a bit lower than expected. It’s the latest in a series of surprisingly soft German data. 

This morning we’ve also seen the EU’s latest inflation reading (Consumer Price Index) come in less than forecast. Yet more evidence that the European Central Bank can sit back and do nothing.

USD: Tit for tat

Trade tensions between the US and China continue to be the main event in global financial markets. 

Yesterday a rebound in the Dow Jones helped bring some confidence back but it looks to be short lived. 

Today China has announced a raft of retaliatory tariffs with plans to impose up to 25% tariffs on 106 American products. 

And you can probably guess what’s going to happen next…Trump will come back even harder. For now this escalating battle between the world’s two biggest economies will overshadow any near-term economic news. In terms of currency markets, this will weigh on the Dollar and lead to greater risk aversion with emerging market currencies also set to be hit. 

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500. 

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Key Currency.

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

GBP – Break to the upside… finally

It’s been a long time coming but GBP/EUR finally broke out of its narrow trading range.

For the last 6 months GBP/EUR has been trapped between 1.11 to 1.14, but yesterday Sterling managed to bust through the ceiling.

It’s a result of a combination of things. Firstly, there’s been progress on Brexit with the EU and UK agreeing a transition deal on Monday. Secondly, the Bank of England (BoE) meeting yesterday saw two members vote to increase rates immediately. 

However, after an initial burst Sterling gave up some of its gains as the BoE reiterated that rate hikes would be “gradual”.

For those that have been frustrated by the level of GBP/EUR, make sure you are registered and ready to take advantage of the improved exchange rate. We are watching rates continuously throughout the day and can target levels for you. 

EUR – Behind the curve

There’s no doubt the Eurozone is doing well economically. The numbers have been buoyant for some time. This was reinforced yesterday by the the latest Economic Bulletin from the European Central Bank (ECB), which was upbeat.

But after many years of poor economic growth and high unemployment, the European Central Bank (ECB) is showing no signs of increasing rates.

As we know, currencies are a relative measure. So when the UK, US and China have all begun to increase interest rates, it weakens investor appetite for the Euro.

As the saying goes: in a world that’s moving forward, standing still is moving backwards.

USD – Trading blows

Yesterday the Federal Reserve (Fed) raise rates as expected for the first time this year. More importantly, the Fed forecast a steeper path of hikes in 2019 and 2020 due to an improving economic outlook.

President Trump also announced tariffs on $50 billion of Chinese imports. The Chinese are not impressed and are now expected to retaliate with a little 'plan' of their own.

The greater risk is whether this kick offs a trade war begins between the world’s two largest economies. Wide-ranging tariffs will lead to higher US inflation and lower Chinese growth, so neither country or currency would benefit.

Overall, the Dollar was weakened as investors reacted more to the tariff news than the Fed meeting.

It’s been an eventful week with some major moves in exchange rates.

We can look to take advantage of these upside moves or structure a plan to help mitigate your risk.

Current rates: 

Friday 23rd March 2018 at 10:40

£1.00 GBP = 1.1431 EURO

£1.00 GBP = 1.4093 USD

£1.00 GBP = 1.8276 AUD

£1.00 GBP = 1.9469 NZD

£1.00 GBP = 1.8220 CAD

£1.00 GBP = 16.6491 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.

All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

Download our "Buying A Property in France" Guide PDF document now.

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

American Stereotypes and Traditional Cuisine

Living in France as a Brit but especially as un américain (an American) sometimes means hearing the same jokes over and over again. Most of the time it’s all meant in good fun so it never bothers me and sometimes I even learn about les stéréotypes américains (American stereotypes) that I never knew existed!

The most common stéréotype américain that is the end of many jokes for me here en France is that all Americans love les hamburgers (hamburgers).

Like with French fries not being from la France, there’s an irony in the stereotypically American food originally being from l’Allemagne (Germany) and not les États-Unis (the United States). Cependant (however), that doesn’t stop the hamburger punch line from being repeated, especially if the subject of traditional cuisine comes up.

Et toi John, tu veux manger un hamburger !

And you John, you want to eat a hamburger!

While it can get old hearing the same joke over and over, it also inspired me to learn des nouveaux mots (new words), because I quickly realised I had no idea to talk about what goes into making un bon hamburger or how to properly explain the difference between le fast-food and a backyard barbecue!

Instead of seeing it as an annoying situation, I prefer to look at it as a way to open up conversations and gain insight into la culture française. It may be awkward, but I understand that mes amis français (my French friends) are looking for a way to include me and I appreciate the effort, even if I don’t laugh at the hamburger jokes.

So I decided to learn how to discuss les ingrédients et les condiments (toppings and condiments) and how exactly I like le steak haché (the patty) cooked! Après tout (after all), even if les hamburgers are not my favourite food, I do enjoy eating them!

Voici un vocabulaire de hamburger

Hamburger – Le hamburger

Fast Food – Le fast-food

Barbecue – Le barbecue

Spatula – La spatule

Bun – Le petit pain

Patty – Le steak haché

Very Rare – Bleu

Rare – Saignant

Medium Rare – À point

Well Done – Bien cuit

Sauce – La sauce

Ketchup – Le ketchup

Mayonnaise – La mayonnaise

Mustard – La moutarde

Relish – Le condiment

Tomato – Le tomate

Lettuce – Le salade

Onion – L’oignon

Pickle – Le cornichon au vinaigre

Grease – La graisse

Fries / Chips – Les frites!

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

This blog was originally posted on The French Language Blog pages.

GBP – Will the Bank of England backtrack?

What a week so far and there’s more major news to come.

Brexit has taken another big leap forward. With a transition deal (loosely) agreed, it means negotiations can finally move on to the juicy bit - trade.

However, Sterling’s upward momentum took a knock yesterday after the latest UK inflation figures came in lower than expected. It seems the Bank of England might have called it right; inflation peaked at 3% a few months ago and is starting to subside.

Today we have jobs data out and then the Bank of England (BoE) meets tomorrow for a rate decision. A May rate hike still looks firmly on the cards, unless the BoE begin to backtrack.

EUR – Awaiting Euro Summit

As we expected, the latest ZEW economic sentiment surveys indicated that German confidence has begun to wane.

The Euro remained pretty stoic in response which suggests investors are instead focused on the upcoming Euro Summit. EU leaders set to meet for a chinwag in Brussels on Thursday and Friday.

USD  - Rate rise expected

The new Chairman, Jerome Powell, will be in the spotlight later today as the Fed is expected to raise interest rates for the first time in 2018.

Investors will be listening closely for any indication of how many more hikes are likely this year. 

While higher rates are positive for the Dollar, the growing threat of trade wars is weighing on USD.

Sterling to Euro rate currently sits at £1.00 = 1.1450 Euros, see below for more comparisons.

Current rates: 

Wednesday 21st March 2018 at 14:00

£1.00 GBP = 1.1450 EURO

£1.00 GBP = 1.4070 USD

£1.00 GBP = 1.8278 AUD

£1.00 GBP = 1.9621 NZD

£1.00 GBP = 1.8250 CAD

£1.00 GBP = 16.8305 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.

All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

Download our FREE "Buying A Property in France" Guide PDF document now.

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

France - it’s the country that has it all...

A great climate, glamourous cities, iconic landmarks, ancient villages, unspoilt countryside, wonderful food and wine, beautiful beaches, world-class ski resorts and an abundance of art, history and culture.

It’s no wonder that around 85 million people visit France every year – making it the most visited country in the world.

Of course, France also remains a popular place for Brits looking to buy property. It’s less crowded than the UK, has more reliable weather and is conveniently just a hop, skip and a jump across the Channel. Perhaps best of all, property prices are generally a lot cheaper than the UK.

In this guide, we take a look at what France has to offer, how to find your dream property and some of the things you need to consider before buying.

Download our FREE "Buying A Property in France" Guide PDF document now, just click on the image below

When moving money abroad, Key Currency provides the best exchange rates possible and charges you no fees.

This can result in significant savings compared to using your bank.

In addition, their specialist currency service can help you to avoid losing money on an overseas property purchase by enabling you to fix the price in Pounds, giving you greater peace of mind and protecting your budget.

Whether you’re buying or selling a property abroad, transferring your savings or paying international bills, we suggest getting a free quote from Key Currency.

Click here for a free quote

Kind regards, Sharon Evans

Founder of Clé France.

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