0845 389 3000
The Harrogate show hosted with French Property News traditionally brings a varied selection of period and new build properties under one roof and affords both buyers and sellers the chance to meet experts in the fields of relocation, currency, taxation and property…this year did not disappoint. Read the rest of this entry »
Yesterday was a day of consolidation in the currency markets and trading remained tight. PPI and jobless claims data from the US were slightly weaker than expected but not significant to swing the markets into dollar buying. In fact the Dow Jones improved yesterday following Wednesdays sell off. A consolidation period for the markets will not be a bad thing in the light of the recent heightened volatility and market swings on future sentiment. Sterling performed well after dipping to test the 1.5050 level against the USD- this is a crucial support level for sterling to consolidate above the 1.50 level.
Last year alone, a record number of Brits left the UK for a new life abroad, and of the 380,000 people who upped and left their British homes, around 85,000 of them moved to Spain, a figure which is expected to rise to 100,000 a year by 2010. It is also forecast that by the end of this year there will be over a million Brits living in Spain with over 750,000 properties owned by the British.
There are obvious reasons why people become disillusioned with life in the UK. The weather, politics, long hours at work, endless commutes, the cost of living (now one of the highest in the world), and dissatisfaction with the quality of life, and of course the increasing threat of terrorism, are all factors which feature heavily in a decision to move abroad.
For many, Spain is the perfect choice with year round sunshine and a better quality of life overall. But the biggest dilemma facing most potential émigrés is finding work abroad and the one dream many of them share is to own and run a bar, café or restaurant in the sun.
Buying your own bar is one of the most popular and low cost options for those wishing to move abroad and “do their own thing”. This dream has become such a huge reality in recent years that there are now tens of thousands of pubs, bars and cafes within the Costa del Sol alone.
Read the rest of this entry »
although the euro seems pretty comfortable in the ranges of 1.1080 and 1.1170, we could start to see it break higher, touching to 1.1250, and perhaps 1.13 again in the near term. Euro zone GDP (gross domestic product) is due out tomorrow at 9am GMT, this data could send the stock markets tumbling as well as the euro, as we see the European economy shrink yet again. the figures are expected to show a decline of - 2 % quarter on quarter and -4.1% year on year, compared to last years -1.5%. From this we can see the massive difference in the state of the economy over one year, and things could continue to get worse before they get better. We saw the euro touch on 1.13 at the end of last week but soon fell back to 1.10/1.11 after the ECB cut their rates down to 1%. Going from a wait and see aproach to actively trying to ease inflationary pressures gave the euro immense strength, and becuase of this it is unclear what they will do at their next meeting. Weber does not want to go below their floor rate of 1% however some other members are arguing to cut futher. we shall have to wait and see!
Yesterday we were again joined by our friend “risk aversion” as the equity markets digested a gloomier than expected outlook from Mervyn King in the quarterly inflation report and weaker retail sales from the US. The fall out in the currency markets was a snap back into USD and Yen strength- cable (GBP/USD) dropped from 1.53 to 1.51 and the Yen gained across the board including against the USD. The main losers in the currency markets were sterling and the higher yielding currencies such as the AUD, NZD and ZAR. The markets are still driven by movements in the equity markets and a continuing battle between risk appetite and risk aversion is still creating see-saw trading ranges. The uncertainty in the currency markets echoes the uncertainty in the global economy- a theme stressed by Mervyn King yesterday. Kings projections were underlined with the ideology that we are not dealing with a normal business cycle so it very difficult to pinpoint when a recovery will materialize. He noted that “There are real risks from the nature of the downturn and the role of the financial sector, that mean this could be a slower return to normal growth paths than we might have expected had this just been a normal business cycle”
Last Friday as well as having our standard Dress Down Friday where everyone pays to wear their civvies, we decided to spice things up and have a ‘blogathon’ on the new Currencies Direct Forum site http://forum.currenciesdirect.net/
| Contact us |  |
0845 389 3000 |
