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FX

The EUR/USD rate fell by 0.6% to 1.1612, as U.S. President €/£ The change in €/£/$ €/$
Donald Trump weighed on market sentiment by
threatening new restrictions on software exports to China 0.8730 1.1700
on Thursday, ahead of next week’s meeting with Chinese 0.8720 1.1680
President Xi Jinping. However, encouraging economic 0.8710 1.1660
activity figures in Germany and the eurozone helped limit
0.8700 1.1640
the euro’s decline.
0.8690 1.1620
Sterling fell against the Euro after UK inflation data for
September came in softer than expected, with headline CPI 0.8680 1.1600
holding at 3.8% and core inflation easing to 3.5%, 0.8670 1.1580
reinforcing expectations that price pressures have peaked. 0.8660 1.1560
The data prompted a dovish reassessment of Bank of
0.8650 1.1540
England policy, with some analysts now expecting a 17.10.25 20.10.25 21.10.25 22.10.25 23.10.25 24.10.25
potential rate cut as soon as November. As such, the
EUR/GBP rate rose by 0.3% to 0.8726. €/£ €/$

CARBON

European carbon prices lost ground for the week due The change in Carbon Prices
to persistent oversupply and delayed reforms. 88

86
The lack of EU consensus on the Commission’s 90%
84
emissions-reduction target ahead of COP30 reinforced
concerns of a slower decarbonisation path. While the €/tonne 82
German weekly auction and rising energy prices from 80
sanctions on Russian energy could provide some 78
support, the unclear political direction is expected to 76
continue limiting the upside for carbon contracts. 74
Dec25 Dec26 Dec27 Dec28
EUAs expiring in Dec-25 decreased by 1.4% for the
17.10.25 24.10.25
week, ending at 78.32 EUR/tonne.

Power prices in Ireland are strongly linked to gas and Carbon prices by the volume of gas fired power stations in Ireland’s power market. Gas prices are in turn influenced by
oil prices and exchange rates.

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