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CARBON (€/T) TUE WED VAR D-1 VAR W-1AVG.MAXMIN 14/415/4FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202674.87 74.15-0.722.4877.0092.2463.65CO2 EUA DEC 202777.41 76.67-0.742.5879.3594.8065.92CO2 EUA DEC 202880.10 79.32-0.782.6881.9097.7368.21UK ETS DEC 26 EUR 53.87 53.960.095.4458.9984.0240.13UK ETS DEC 27 EUR 56.51 56.610.15.5361.6987.6142.32UK ETS DEC 28 EUR 59.28 59.600.325.7764.6991.4644.79European carbon prices decreased on Wednesday, driven by profit-taking andpricing uncertainty, as mixed signals from energy markets, ranging from peacetalk optimism to tighter Strait of Hormuz risks, shaped sentiment. In thiscontext, the EUAs expiring in Dec-2026 declined by 1% to 74.15 EUR/tonne.CO2 EUAEXCHANGE RATES TUEWEDVAR D-1 VAR W-1AVG.MAXMIN 14/415/4FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1793 1.1780-0.00130.00741.16911.19741.1476RATE EUR/GBP0.8691 0.86930.00020.00040.86880.87630.8616RATE GBP/EUR1.1506 1.1503-0.0003-0.00051.15101.16061.1412The EUR/USD pair slipped to 1.1780 amid subdued geopolitical headlines,while oil-driven inflation continued to shape the policy outlook. Although oilprices have eased, they remain above pre-conflict levels, keeping inflationconcerns elevated.Focus now shifts to upcoming Eurozone inflation data, while the EUR/GBP rateheld at 0.8693 as traders weighed tightening prospects for both the ECB andBoE, with the Eurozone seen in a slightly stronger position.