This week's forex exchange rate forecasts for the British Pound Sterling vs Rand (ZAR), Swedish Krona (SEK), Norwegian Krone (NOK) & Danish Krone (DKK) today.
Before we delve into the reports, here are the latest conversion rates: (revised 15/10/2014)
The Pound to Norwegian Krone conversion rate is +0.75 pct higher at 10.53762 GBP/NOK.
The Pound to Polish Zloty conversion rate is +0.17 pct higher at 5.29331 GBP/PLN.
The Pound to Swedish Krona exchange rate today is converting +0.28 per cent higher at 11.56386 GBP/SEK.
The Pound to Lira exchange rate today is converting +0.26 per cent higher at 3.62113 GBP/TRY.
The Pound to Rand exchange rate is +0.12 pct higher with a conversion rate of 1 GBP equals 17.61955 ZAR.
Please Note: these are inter-bank forex rates to which margins are applied with international payments abroad - speak to a recommended FX provider to fix the best exchange rates.
Pound to Norwegian Krone Today: GBP/NOK
With risk aversion rife and influential UK reports lacking, the Pound to Norwegian Krone exchange rate began the week trading in the region of 10.4415.
As the European session progressed the GBP/NOK softened over 0.2% from the day’s opening levels.
This week the only Norwegian report to be aware of is the nation’s trade balance stats.
The surplus is expected to have narrowed from 22.7 billion to 20.7 billion in September. If that proves to be the case it could undermine demand for the Norwegian Krone.
The UK’s Consumer Price Index and Employment figures will also be of interest. Slowing inflation or disappointing wage growth figures could cause the Pound soften.
Pound to Swedish Krona Today: GBP/SEK
Early into local trading the GBP/SEK exchange rate lost 0.55%.
While concerns that this week’s UK employment figures will show stagnant wage growth wore on the Pound, the Swedish Krona was able to advance amid a dearth of Swedish reports.
Tomorrow both Sweden and the UK are scheduled to publish inflation stats for September.
The pace of consumer price gains in Sweden is expected to decline by -0.1% on a month-on-month basis, taking the annual rate of inflation to -0.2%.
Other Swedish reports to look out for include the nation’s unemployment rate figure.
The level of joblessness is expected to rise from 7.4% to 7.5%.
Pound to Rand Exchange Rate Today: GBP/ZAR
With the UK’s only report of the day (the Lloyds Employment Confidence gauge) having little bearing on the Pound’s appeal, the GBP/ZAR exchange rate fell by 0.55% on Monday.
Although investors were exerting caution following last week’s stark warnings on global growth from the International Monetary Fund, the rising price of gold bolstered the commodity-driven Rand.
South African reports are lacking until Wednesday, when the nation will publish retail sales numbers for August.
Sales are expected to have increased 0.6% on the month, half the pace of growth recorded in July.
Pound to Danish Krone Rate Outlook: GBP/DKK
The Pound to Danish Krone exchange rate fell by over 0.2% on Monday as investors ditched Sterling ahead of the publication of the UK’s inflation and employment figures.
Lacklustre wage growth could trigger widespread Pound depreciations on Wednesday.
The direction taken by the GBP/DKK exchange rate in the middle of the week could also be dictated by Denmark’s retail sales figures.
Sales are forecast to have increased by 0.3% on the month in September following a 0.6% monthly advance in August.
A surprisingly strong result could boost the Danish Krone.