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Oct 19

Currency Market News - Hopes dashed, Pound smashed

Today's Currency Market Focus Includes:

GBP: Hopes dashed, Pound smashed
EUR: What the XXXX is Italy up to? 
USD: Fear strikes, Dollar spikes

Click for a Quick Quote

GBP: Hopes dashed, Pound smashed

Things really unravelled this week. The moment we’ve all been waiting for came and went. After countless rumours of an imminent Brexit deal it seems we are still at a stalemate with the EU over the Irish border.

So much so that the European leaders have even cancelled next month’s summit due to a lack of progress – there’s nothing to talk about.

On the domestic front, the Pound also retreated following soft readings for UK inflation and retail spending.

Just goes to show how quickly things can change in the foreign exchange markets.

EUR: What the XXXX is Italy up to?

We are used to Italy changing governments and forming complicated coalitions. But it hasn’t tended to cause problems for the rest of the EU…until now.

The current Italian government has proposed a ‘free-spending’ budget that is in serious breach of EU rules. Despite receiving a barrage of criticism, they are showing no signs of backing down.

This is causing disharmony in the EU and undermining the credibility of the Euro.

USD: Fear strikes, Dollar spikes

With stock markets suffering another big fall yesterday, risk aversion saw investors taking cover in the safety of the Dollar.

Exacerbating the move was the fact that the Pound and the Euro were having a bad day at the office for the reasons mentioned above.

Investors are still betting that more rate rises are coming in the US, so the appeal of the Dollar remains intact.

Key Currency

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact our 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,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Friday 19th October 2018 at 09:30

£1.00 GBP = 1.1389 EURO

£1.00 GBP = 1.3034 USD

£1.00 GBP = 1.8334 AUD

£1.00 GBP = 1.9840 NZD

£1.00 GBP = 1.7019 CAD

£1.00 GBP = 18.7656 ZAR

Cle France Properties

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.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Add CommentViews: 13
Oct 15

News Update - A busy week for Sterling

Today's Currency Market Focus Includes:

GBP: Is this the moment we’ve been waiting for?
EUR: Euro drifts down 
USD: Dollar back in favour

Click for a Quick Quote

GBP: Is this the moment we’ve been waiting for?

No one likes going into work on a Sunday. So it’s safe to assume that something important must be happening, because Dominic Raab, UK Brexit secretary, travelled to Brussels yesterday afternoon for a meeting with EU chief negotiator Michel Barnier.

It feels as though we are getting close to something concrete. Given the EU Summit commences on Wednesday, it would seem that both sides want to see if a deal can be reached this week.

But as we’ve been saying, Theresa May could face a bigger enemy at home. David Davis and Boris Johnson are openly critical of the deal as it stands. They will do their best to stage a rebellion.

There’s bound to be more twists and turns in the Brexit saga, which would trigger volatility in Sterling.

EUR: Euro drifts down

With fears over Italy still lingering, the Euro has been struggling of late.

The ECB President, Mario Draghi (who happens to be Italian), has made his feelings clear over the weekend stating that the Italian government needs to “calm down” and stop questioning the Euro as it is damaging companies and consumers.

Whether they will listen is another matter.

USD: Dollar back in favour

Buyers returned to the US Dollar during Asian trading hours this morning as Brexit uncertainty dented the appeal of the Pound and Euro.

After a brief lull in international trade wars, US Treasury Secretary stirred things up on Saturday saying that any future trade deals would encompass currency manipulation. The comment was thought to be aimed at Japan and China who are known to deliberately weaken their currencies to boost exports.

As we’ve pointed out previously, when things get scary, investors return to the Dollar.

Key Currency

Thanks For Reading, What Next?

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,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Monday 15th October 2018 at 10:15

£1.00 GBP = 1.1350 EURO

£1.00 GBP = 1.3139 USD

£1.00 GBP = 1.8410 AUD

£1.00 GBP = 2.0106 NZD

£1.00 GBP = 1.7107 CAD

£1.00 GBP = 18.9959 ZAR

Cle France Properties

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.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Add CommentViews: 87
Oct 15

Celebrating Halloween in France

Ghosts’n’Goblins: The Origins of Halloween

Soon, children in many countries will be donning their déguisements (costumes) and at crépuscule (dusk) will be headed out the door to make the rounds of their neighborhood to celebrate Halloween.

Mais d’où vient cette tradition (But where does this tradition come from)? What exactly is Halloween? And does France even celebrate it?

Halloween in France

 Image by Pedro Ferreira on Flickr

Halloween, also called Hallows’ Eve, has roots in l’histoire ancienne (ancient history). It can trace its lineage back to the Celtic calendar festival of Samhain (literally “end of summer” in Celtic) in Ireland and Britain.

November 1 was set apart as the day to commemorate la fin de l’été (the end of summer) and to celebrate les morts (the dead). The emphasis on the supernatural during Samhain gave the festival an aura of peur (fear) during which people made sacrifices to the Celtic gods who played tricks on them. Fires were lit to ward off spirits and disguises were often worn pour se cacher des fantômes (to hide from ghosts).

The Roman festivals of Feralia merged with the rituals of Samhain when the Romans conquered the Celts in the 1st century A.D., thus adding to the mystique and folklore of Halloween.

Six hundred years later, La Toussaint (literally “All Saints’” Day) was promulgated by Pope Boniface IV and was to be celebrated on May 13. Families would gather to pay respects to loved ones they had lost and to honor the saints. Durant le Moyen-Âge (During the Middle Ages) the Catholic Church was the most powerful institution and in the 8th century, Pope Gregory III changed the date of La Toussaint to November 1, possibly to overshadow the pagan holidays. October 31st of every year became a “hallowed evening” and thus the term “Halloween” came into being. Today, November 1st continues to remain un jour férié (public holiday) in France where schools, restaurants, post offices, banks and other businesses are all closed. A similar tradition to La Toussaint takes place au Mexique (in Mexico) between October 31st and November 2nd called Día de Muertos (Day of the Dead) when those belonging to the Catholic faith visit les tombeaux (the graves) of their relatives to pay their respects.

Britain and Ireland continued celebrating Halloween as a secular holiday beyond the Middle Ages. British and Irish immigrants brought Halloween to the United States beginning in the mid-19th century and since then Halloween, much like Noël et Pâques (Christmas and Easter), has slowly morphed into a commercial “holiday” filled with costumes, trick-or-treating and copious amounts of bonbons (candy).

In France, Halloween has garnered little attention and is mostly a pretext for people to dress up and attend costume parties. Absent are the typical American costumes (superheroes) in favor of more macabre disguises (ghosts, zombies, etc.) typically associated with Halloween. Halloween remains an obscure holiday in France but you might find Jack-o’-lanterns and other decorations behind the windows of businesses and homes.

In honour of the holiday, a short 'scary' vocabulary list:

le déguisement, le costume – costume

se déguiser – to disguise oneself, dress up in a costume

une citrouille – pumpkin

la bougie – candle

les bonbons – candy

la peur – fear

avoir peur – to be scared

faire peur à quelqu’un – to scare someone

le sang – blood

les os – bones

le diable – the devil

le fantôme – ghost

l’épouvantail (m) – scarecrow

le sorcier/la sorcière – the sorcerer/the witch

l’araignée (f) – spider

la chauve-souris – bat

Will Halloween ever become a popular tradition in France?

It is doubtful. But the next time someone asks you about Halloween, you can impress them with your knowledge of its origins. If anything, it makes for good conversation.

Happy Halloween!

Cle France LOGO

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

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

Add CommentViews: 119
Oct 12

Currency Update - The Luck of the Irish?

Today's Currency Market Focus Includes:

GBP: Luck of the Irish?
EUR: Firms up but risks remain 
USD: Dollar dives

Click for a Quick Quote

GBP: Luck of the Irish?

Sterling remains at elevated levels on hopes that a Brexit deal is imminent.

The EU’s chief negotiator has hinted that an announcement could be made as soon as next week.

The stumbling block remains the Irish border. The EU is adamant that checks must take place on goods crossing the border but the Northern Irish party is strongly opposed to this.

The problem is Theresa May’s government needs the support of the Northern Irish to retain a majority in parliament after her disastrous election result last year.

So the tail risk for Sterling is that May agrees a deal with the EU but can’t get it approved on home soil.

EUR: Firms up but risks remain

The Euro has found a bit of support as the week has unfolded.

Fears over Italy’s new freewheeling government have subsided for now. But the risks remain. Italy’s economy is 10 times the size of Greece – it can’t be swept under the carpet.

If the Italian’s begin to break EU fiscal rules it will undermine the Euro’s hard-fought reputation as a stable and sound currency.

USD: Dollar dives

The US Dollar has hit a 1-month low against a basket of its peers. A Wall Street sell-off and lower than expected inflation numbers yesterday triggered the falls in the buck.

The weak inflation numbers coupled with last week’s soft jobs data have lowered the prospects of further interest rate rises in the US. As a result, the Dollar is becoming less attractive to investors.

Key Currency

Thanks For Reading, What Next?

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,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Friday 12th October 2018 at 10:40

£1.00 GBP = 1.1409 EURO

£1.00 GBP = 1.3219 USD

£1.00 GBP = 1.8566 AUD

£1.00 GBP = 2.0278 NZD

£1.00 GBP = 1.7210 CAD

£1.00 GBP = 19.0810 ZAR

Cle France Properties

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.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Add CommentViews: 87
Oct 10

Good News Pound Hits 16 Week High

We wanted to give you a quick heads up!

The Pound has had a strong run lately, spiking up to a 16-week high against the Euro.

This has been largely due to hopes over a Brexit deal.

However, as we all know there are still a lot of unresolved issues and uncertainty that lies ahead.

If negotiations with the EU remain deadlocked, the Pound could suddenly drop back down.

For those with GBP exposure, you may wish to take advantage of recent gains and lock-in an exchange rate today.

Even if your currency requirement is in the future, we can secure an exchange rate now, enabling you to protect your position and avoid the risk of adverse currency movements.

Key Currency

Thanks For Reading, What Next?

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,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Wednesday 10th October 2018 at 09:15

£1.00 GBP = 1.1453 EURO

£1.00 GBP = 1.3164 USD

£1.00 GBP = 1.8515 AUD

£1.00 GBP = 2.0336 NZD

£1.00 GBP = 1.7044 CAD

£1.00 GBP = 19.2187 ZAR

Cle France Properties

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.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Add CommentViews: 35

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