Page 100 - Demo

CARBON (€/T) TUE WED VAR D-1 VAR W-1AVG.MAXMIN 17/318/3FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202666.65 65.87-0.78-5.9978.9192.2465.87CO2 EUA DEC 202768.88 68.14-0.74-6.0581.1994.8068.14CO2 EUA DEC 202871.26 70.46-0.8-6.1683.7397.7370.46CO2 EUA DEC 202973.92 73.02-0.9-6.386.65101.0473.02UK ETS DEC 26 EUR 42.94 42.58-0.36-3.8263.4684.0242.58UK ETS DEC 27 EUR 45.15 44.78-0.37-3.7966.2487.6144.78UK ETS DEC 28 EUR 47.61 47.25-0.36-3.8169.3891.4647.25European carbon prices fell further on Wednesday, pressured by softpositioning data and the expiry of March options. Funds trimmed net longpositions to a multi-month low of 39m tonnes, reflecting cautious sentimentamid policy and Market Stability Reserve (MSR) uncertainty. Consequently, theEUAs expiring in Dec-2026 declined by 1% to 65.87 EUR/tonne.CO2 EUAEXCHANGE RATES TUEWEDVAR D-1 VAR W-1AVG.MAXMIN 17/318/3FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1531 1.1500-0.0031-0.00811.17271.19741.1476RATE EUR/GBP0.8643 0.8639-0.00040.00030.86890.87630.8616RATE GBP/EUR1.1570 1.15750.0005-0.00041.15101.16061.1412The EUR/USD pair edged 0.3% lower at 1.1500 after the Federal Reserve heldrates steady and signalled only limited easing of 25bps later this year. The Fednoted solid economic growth, a stagnant labour market, and still-elevatedinflation, while highlighting uncertainty around the economic outlook and MiddleEast developments.The EUR/GBP rate held at 0.8639 ahead of BoE and ECB decisions. Eurozoneinflation data met expectations, with core HICP at 2.4% y/y and headlineinflation at 1.9%.