This week's forex forecasts for the Pound Sterling (GBP) vs Rand (ZAR), Swedish Krona (SEK), Norwegian Krone (NOK) & Danish Krone (DKK) exchange rates today.
Before we delve into the reports, here are the latest conversion rates: (revised 18/10/2014)
The Pound to Swedish Krona exchange rate today is converting at 11.55866 GBP/SEK.
The Pound to Singapore Dollar conversion rate is 2.05272 GBP/SGD.
The Pound to Lira conversion rate is 3.61295 GBP/TRY.
The Pound to Norwegian Krone exchange rate converts at 1 GBP is 10.53422 NOK.
The Pound to Rand exchange rate converts at 1 GBP is 17.83313 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
After Bank of England policy maker Martin Weale expressed the opinion that UK interest rates should be increased now, the Pound strengthened against the majority of its currency rivals.
The GBP/NOK exchange rate climbed by 1.62% during the European session, achieving a high of 10.6727.
Norwegian data may be lacking for the rest of the week but there is one event taking place next Thursday which may have the potential to provoke notable Norwegian Krone movement - Norges Bank's announcement of its interest rate decision.
The central bank is expected to leave rates at 1.5%.
Pound to Swedish Krona Today: GBP/SEK
Tuesday’s UK inflation data may have caused concern among economists and investors, but Wednesday’s more positive employment report helped the Pound recoup some of its initial losses.
The Pound to Swedish Krona exchange rate was able to register a 0.6% gain on Thursday thanks to some hawkish remarks from a prominent ECB policymaker.
Next week the main Swedish stat to be aware of is the nation’s Unemployment Rate figure. The jobless rate in Sweden is expected to have risen from 7.4% to 7.5% in September.
The following week is much fuller in terms of domestic data, so notable SEK movement could occur.
Pound to Rand Exchange Rate Today: GBP/ZAR
The GBP/ZAR edged up by 0.8% on Thursday following a mixed performance from the South African Rand on Wednesday.
Although domestic retail sales figures came in above forecast, registering annual growth of 2.1% in August, sales growth had still slowed from 2.4% the previous month.
The Rand later advanced as US retail figures fell short, lowering the odds of a Federal Reserve rate hike and boosting higher-risk assets.
The South African reports to be aware of next week include annual and monthly inflation stats.
Pound to Danish Krone Rate Outlook: GBP/DKK
With the Pound broadly strengthening in response BoE policymaker Martin Weale’s assertion that the UK needs interest rates to increase sooner rather than later, the Pound to Danish Krone pairing climbed by over 0.5% - jumping away from a low of 9.2720.
Movement in the GBP/DKK might be primarily driven by UK news and global developments for the rest of this week, but next week the Denmark is scheduled to release retail sales and consumer confidence figures.
Both reports could have an impact on the Danish Krone (DKK).