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CARBON (€/T) FRIMON VAR D-1 VAR W-1AVG.MAXMIN 28/11 1/12FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202583.26 82.64-0.622.0374.0083.9360.94CO2 EUA DEC 202685.44 84.86-0.582.1176.0086.3562.54CO2 EUA DEC 202787.88 87.32-0.562.1778.3089.0764.54CO2 EUA DEC 202890.61 90.05-0.562.1780.8791.9466.86UK ETS DEC 25 EUR 66.59 64.32-2.27-1.3957.5267.0437.35UK ETS DEC 26 EUR 69.57 67.27-2.3-1.4160.1870.0439.48UK ETS DEC 27 EUR 72.73 70.39-2.34-1.4762.9873.1442.14With the wider energy market on the back foot, sustained selling pulledEuropean carbon prices lower on Monday. Consequently, the EUAs expiring inDec-2025 declined by 0.7% to 82.64 EUR/tonne.CO2 EUAEXCHANGE RATES FRIMONVAR D-1 VAR W-1AVG.MAXMIN 28/111/12FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1566 1.16460.0080.01021.12661.18371.0198RATE EUR/GBP0.8752 0.87780.0026-0.00260.85540.88460.8253RATE GBP/EUR1.1426 1.1392-0.00340.00341.16941.21171.1305The EUR/USD pair increased by 0.7%, closing at 1.1646, as the US dollarweakened following hawkish remarks from Bank of Japan Governor KazuoUeda and soft economic data. US November PMIs showed slowermanufacturing growth, while the Institute for Supply Management (ISM) linkedtransport layoffs to Trump’s tariffs. Speculation that White House EconomicAdvisor Kevin Hassett could succeed Fed Chair Powell also weighed on thedollar.Meanwhile, the EUR/GBP rate edged 0.3% higher at 0.8778, as the Pound’spost-budget rally faded. European HCOB Manufacturing PMIs were mixed, withFrance in line, Spain and Italy above forecasts, and Germany and theEurozone data missing.