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CARBON (€/T) MON TUE VAR D-1 VAR W-1AVG.MAXMIN 6/47/4FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202671.69 71.51-0.18-177.3492.2463.65CO2 EUA DEC 202774.27 74.20-0.07-0.9379.6794.8065.92CO2 EUA DEC 202876.84 76.920.08-0.8582.2197.7368.21UK ETS DEC 26 EUR 47.59 47.15-0.44-0.759.7184.0240.13UK ETS DEC 27 EUR 50.15 49.70-0.45-0.7162.4187.6142.32UK ETS DEC 28 EUR 52.80 52.35-0.45-0.5165.4391.4644.79European carbon prices showed limited movement after the Easter break,ending slightly down as traders adopted a wait-and-see approach ahead of theUS deadline linked to Iran and Hormuz developments. Market participants alsolooked toward updates on 2025 emissions and allocation benchmarks.Consequently, the EUAs expiring in Dec-2026 slipped by 0.3% to 71.51EUR/tonne.CO2 EUAEXCHANGE RATES MONTUEVAR D-1 VAR W-1AVG.MAXMIN 6/47/4FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1541 1.15570.00160.00591.16881.19741.1476RATE EUR/GBP0.8720 0.87260.00060.00430.86870.87630.8616RATE GBP/EUR1.1468 1.1460-0.0008-0.00561.15121.16061.1412The EUR/USD pair inched up to 1.1557 as the dollar softened ahead ofTrump’s Iran deadline. The EUR/GBP rate was little changed at 0.8726, despitea slight upward revision in Eurozone services activity. The final HCOB ServicesPMI showed growth at 50.2, up from 50.1, driven mainly by Spain (53.3), whileFrance continued to contract and Germany’s expansion slowed.UK services also lost momentum, with the S&P Global PMI dropping to 50.5.Investors remain cautious as Trump’s threat to strike Iran’s energy andinfrastructure looms.