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FX

The Euro strengthened against the U.S. dollar after the €/£ The change in €/£/$ €/$
release of the Nonfarm Payrolls (NFP) report, which showed
that the U.S. economy created fewer jobs than expected. 0.8710 1.1740
Across the Atlantic, Gross Domestic Product (GDP) figures 0.8700 1.1720
for the second quarter of 2025 were revised upward on an
annual basis. The EUR/USD rate rose by 0.3% to reach 0.8690 1.1700
1.1697 on Friday. 0.8680 1.1680
The EUR/GBP pair ended rather flat at 1.1697 as traders 0.8670 1.1660
exercised caution ahead of French Prime Minister François
0.8660 1.1640
Bayrou’s confidence vote.
0.8650 1.1620

0.8640 1.1600
29.08.25 01.09.25 02.09.25 03.09.25 04.09.25 05.09.25
€/£ €/$

CARBON

European carbon prices surged over the past week, The change in Carbon Prices
hovering at around their highest levels in over 11 weeks. 85

Robust compliance demand and solid German auction 80
results lent support. Investment funds expanded their
net long holdings, reinforcing the market’s bullish tone. €/tonne 75

Consequently, EUAs expiring in Dec-25 rallied over 4% 70
for the week, slightly exceeding 76 EUR/tonne.
65
Dec25 Dec26 Dec27 Dec28
29.08.25 05.09.25

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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