Það er skýjað núna, en við förum samt út.

Yes, það literally means it, but in weather expressions it often works like the English dummy subject in it is raining or it is cold. It does not refer to a specific thing.

So:

• Það er skýjað = It is cloudy
• Það er kalt = It is cold
• Það er rigning = It is raining / there is rain

In this sentence, það is there because Icelandic, like English, usually wants a subject in a full clause.

Skýjað means cloudy, and in sentences like this it behaves like a neuter singular predicate form.

It is related to ský meaning cloud. In weather expressions, Icelandic often uses this neuter form:

• Það er skýjað = It is cloudy
• Það er bjart = It is bright
• Það er dimmt = It is dark

So even though you may think of it as similar to an adjective in English, it is best to learn Það er skýjað as a whole weather pattern.

That ending is the neuter singular form, which is common after impersonal það er weather expressions.

A useful pattern is:

• Það er + neuter singular form

Because það is grammatically neuter, the describing word often appears in neuter singular too. So skýjað matches that pattern.

Both can mean now.

• nú = now
• núna = now, often a bit more conversational or emphatic

In many situations they are interchangeable. Here, núna simply means now / at the moment.

So these are both possible:

• Það er skýjað núna
• Það er skýjað nú

The version with núna can sound a little more natural in everyday speech.

Because the verb is fara (to go / travel), and it is an irregular verb.

Its present-tense forms are:

• ég fer = I go
• þú ferð = you go
• hann/hún/það fer = he/she/it goes
• við förum = we go
• þið farið = you go
• þeir/þær/þau fara = they go

So við förum is simply the correct we form of fara.

Because Icelandic often uses the present tense for a future action when the context makes it clear, just like English sometimes does.

So:

• við förum samt út literally = we go out anyway
• natural English meaning = we’re going out anyway or we’ll go out anyway

This is very normal. Icelandic does not always need a separate future form.

Samt means still, anyway, all the same, or nevertheless, depending on context.

In this sentence:

• en við förum samt út = but we’re going out anyway

It shows contrast:

• it is cloudy
• despite that, we are still going out

So samt is an important little word for in spite of that.

Yes, its position can vary somewhat, but the placement here is very natural.

In:

• en við förum samt út

samt comes after the verb förum. That is a common position for sentence adverbs and similar short words.

You may see samt in other places too, depending on emphasis and style, but for a learner, this sentence is a good model to remember:

• Subject + verb + samt + rest

Yes, út means out, and here it means out / outside.

So:

• fara út = to go out
• við förum út = we go out / we go outside

This is a very common verb + adverb combination, much like English phrasal-style expressions.

Because en means but, while og means and.

The sentence has a contrast:

• It is cloudy now
• but we are going out anyway

So en is the correct conjunction because the second clause contrasts with the first.

Yes. After en (but), Icelandic often keeps ordinary main-clause word order.

So:

• en við förum samt út

has:

• við = subject
• förum = verb

This is straightforward main-clause order.

A learner may notice that Icelandic often has verb-second word order, but after a simple conjunction like en, starting the new clause with the subject is completely normal.

A rough learner-friendly guide would be:

• Það er skýjað núna, en við förum samt út
• approximately: THAH-th er SKEE-yath NOO-na, en vith FUR-um sahmt oot

A few important sounds:

• þ is like th in thing
• ð is like th in this, though in some positions it is very soft
• ý sounds like a long ee
• ö in förum is not an English o; it is closer to the vowel in French peur or German schön
• ú is like oo

Exact Icelandic pronunciation takes practice, but that rough version can help you get started.

Yes.

• Það er skýjað, en við förum samt út
  is also correct.

Adding núna just makes the time reference explicit:

• right now
• at the moment

So núna adds a little context, but it is not required for the grammar of the sentence.