Buying a home abroad

Invest in Oveseas Property believe in making the whole foreign money exchange process easy to understand and simple to do. Whether you’re buying a home or property overseas for investment, retirement or holidays, make sure that you don’t forget about the importance of foreign exchange.

See how Currencies Direct can help you get the best foreign money exchange rates when you buy property overseas

Increasing your spending power. Because we deal directly with the currency markets we can offer the best foreign money exchange rates that the banks find hard to beat. These great foreign currency exchange rates mean that you get more for your money, increasing your spending power overseas.

Saving you money. We want to make sure that you get the best forex deals you can so that’s why we offer all our clients free transfers (over £5,000) and charge no commission. Plus, Currencies Direct does not charge lifting/receiving fees on forex transfers.

Tailored to your circumstances. As specialist foreign exchange brokers we are able to offer a number of product choices for foreign exchange including spot deals, forward contracts and limit orders. Which one is right for you will depend on your circumstances, foreign currency needs and timing. To find out more when you open a free acount.

Selling is as important as buying. Many people focus on buying their property and don’t realize that we can offer them great benefits should they choose to sell. We can often get your money to you quicker and with all the great money exchange rate benefits that you would expect from Currencies Direct.

Easy to deal with. You can trade in forex with us by phone, talking directly to a currency specialist, electronically or by fax. The first step is to become a registered customer. Our registration process is second to none. You can register with us online and be ready to trade in minutes.

Make regular payments overseas. Mortgage, maintenance, insurance – whatever your reason for making regular money transfers Currencies Direct’s Overseas Regular Money Transfer Plan can save you money. With free forex transfers, great foreign exchange rates and low minimum amounts we really make is easy to keep benefiting from our great service. Click here for more information.

Inflation Data indicates significant Global Fall in Prices…
The UK Office for National Statistics yesterday reported that the headline inflation rate had its biggest 1-month decline in the past 10 years. The CPI year-on-year rate was reported at 4.5% higher in October compared to a 5.2% annual rise in the year to September. The core CPI number (which does not include price moves in energy, food, alcohol and tobacco) also fell, from 2.2% in September to 1.9% in the year to October. Even though the headline figure is still well above the BoE target rate of 2%, the expectation is for similar falls to occur over the next few months. This will enable CPI to hit the 2% by spring next year. The problem then, as flagged and acknowledged by the BoE in its Inflation Report, is that the fall will not stop there and we are quite likely to see the headline rate fall to zero during 2009. This will create a whole new raft of problems for the MPC and Treasury.
This trend in prices data will be mirrored in all the major economies as lower rates and easier commodity prices filter into the respective economies. Therefore expect to see similar falls in inflation in the Eurozone, US and Canada over the coming weeks. Officials around the globe are already beginning to douse expectations for continued large cuts in interest rates with both Trichet and the Fed’s Stern questioning the wisdom and long-term benefits of further large cuts in their respective currencies.
Today we have a fun-packed day in prospect with minutes from both the last meetings of the MPC and Federal Reserve scheduled as well as an anticipated gloomy survey on Industrial Trends from the CBI. This afternoon, prior to the Fed minutes release, we get US CPI and Housing Starts.
The CBI report is likely to make grim reading especially given the recent proliferation of downbeat Corporate trading statements. The survey number itself will undoubtedly hit a new low for this cycle (expected -41 from last month’s -31) but will remain well above the all time low for the survey of -61 recorded back in October 1991. Trouble is that the figure is still heading the wrong way and so the question is now being asked, “Is this recession worse for British Business than the downturn in the early 90s?” This indicator MUST be watched for the answer…..
The MPC minutes are expected to reveal the arguments for the unexpectedly large cut in rates in October – the biggest for 27 years, but more importantly, might reveal the Committee’s inclinations for the upcoming December meeting. The Market view these 2 releases with trepidation and as such have moved Sterling away from its yesterday’s highs. Numbers in line with expectation ought to allow a further move back through 1.50 and a test of 1.20 some time this week. UK LIBOR interest rates continue to edge lower ahead of the minutes.

The contents of this report are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. Currencies Direct cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

If you would like to receive daily currency rate updates and market commentries direct to your e-mail sign up for a FREE Currencies Direct Account