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CARBON (€/T) WED THU VAR D-1 VAR W-1AVG.MAXMIN 1/102/10FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202576.33 77.431.11.6772.7183.9360.94CO2 EUA DEC 202678.34 79.481.141.774.6986.3562.54CO2 EUA DEC 202780.61 81.751.141.776.9989.0764.54CO2 EUA DEC 202883.17 84.351.181.7279.5691.9466.86UK ETS DEC 25 EUR 62.52 64.562.040.4556.0367.0437.35UK ETS DEC 26 EUR 65.45 67.552.10.4258.6270.0439.48UK ETS DEC 27 EUR 68.41 70.502.090.4361.3773.1442.14European carbon prices rose to a two-week peak on Thursday, extending gainsbeyond the compliance deadline as market participants positioned for a tightersupply outlook in 2026. Consequently, the EUAs expiring in Dec-2025advanced by 1.4% to 77.43 EUR/tonne.CO2 EUAEXCHANGE RATES WEDTHUVAR D-1 VAR W-1AVG.MAXMIN 1/102/10FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1724 1.17540.0030.00151.11931.18371.0198RATE EUR/GBP0.8704 0.87210.0017-0.00270.85090.87480.8253RATE GBP/EUR1.1489 1.1467-0.00220.00361.17551.21171.1431The EUR/USD pair edged 0.3% higher at 1.1754 on Thursday, supported bygrowing expectations of consecutive Fed rate cuts, which outweighed asurprise uptick in Eurozone unemployment to 6.3% in August. The euro’s gainswere underpinned by dollar weakness after US ADP data showed a Septemberjobs decline, adding pressure on the Fed to ease policy further.The EUR/GBP rate added 0.2% to settle at 0.8721 but could face downside assterling remains underpinned by the BoE’s cautious stance on inflation,reinforced by policymaker Catherine Mann’s warning of persistent “higher-for-longer” price pressures.