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CARBON (€/T) MON TUE VAR D-1 VAR W-1AVG.MAXMIN 15/916/9FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202576.75 77.510.760.6172.4683.9360.94CO2 EUA DEC 202678.75 79.520.770.6274.4486.3562.54CO2 EUA DEC 202781.04 81.800.760.6676.7389.0764.54CO2 EUA DEC 202883.55 84.300.750.5879.3091.9466.86UK ETS DEC 25 EUR 65.72 66.400.680.2655.4866.4037.35UK ETS DEC 26 EUR 68.63 69.280.650.1558.0569.3039.48UK ETS DEC 27 EUR 71.86 72.510.650.2460.7872.5142.14European carbon prices climbed to a seven-month peak on Tuesday, lifted byspeculative flows and supportive macro signals. Last week’s Commitment ofTraders report revealed funds had built up more than 20m tonnes of net lengthin EUA derivatives, strengthening the bullish momentum. Hence, the EUAsexpiring in Dec-2025 rose by 1% to 77.51 EUR/tonne.CO2 EUAEXCHANGE RATES MONTUEVAR D-1 VAR W-1AVG.MAXMIN 15/916/9FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1766 1.18070.00410.00631.11591.18101.0198RATE EUR/GBP0.8641 0.86560.0015-0.00070.84960.87170.8253RATE GBP/EUR1.1573 1.1553-0.0020.0011.17731.21171.1472The euro firmed on Tuesday after Germany’s ZEW survey showed improvinginvestor sentiment and Eurozone industrial output rose, though belowforecasts. The EUR/USD pair edged 0.4% higher at 1.1807, with strong USretail sales (+0.6% vs. +0.2% expected) limiting dollar weakness ahead ofPowell’s remarks.Meanwhile, the EUR/GBP rate gained 0.2% to 0.8656 supported by eurostrength despite solid UK labour data, as employment rose by 232K in August,exceeding forecasts and July’s 239K, while jobless claims came in lower thanexpected.