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FX

The EUR/USD rate rose sharply last week, supported by a €/£ The change in €/£/$ €/$
weaker dollar despite the partial reopening of the U.S.
government and high Treasury yields. Markets reduced 0.8860 1.1660
their expectations of a Fed rate cut in December, while signs 1.1640
0.8840
of resilience in the eurozone, such as higher industrial 1.1620
production, supported the euro. As such, the EUR/USD 0.8820
increased by 0.8% to reach 1.1648 on Friday. 1.1600
0.8800 1.1580
The British pound declined against the Euro last week,
weighed down by weaker-than-expected UK economic data 0.8780 1.1560
and a reduced likelihood of further Bank of England rate 1.1540
hikes. At the same time, the Euro gained support from signs 0.8760 1.1520
of economic resilience in the eurozone, including rising
0.8740 1.1500
industrial production, which strengthened investor 07.11.25 10.11.25 11.11.25 12.11.25 13.11.25 14.11.25
confidence in the single currency. Finally, the EUR/GBP pair
added 0.4% for the week, ending at 0.8846. €/£ €/$

CARBON

European carbon prices upwards week-on-week, The change in Carbon Prices
supported by technical buying, expanding fund net-long 90
positions, and expectations of tighter supply, while
colder weather forecasts in Central Western Europe
boosted short-term demand. Despite early weakness 85
from soft heating demand and lower energy prices, €/tonne
EUAs reached a nine-month high in the midweek trading
session. 80
Consequently, EUAs expiring in Dec-25 increased by
about 2% for the week, ending at 80.93 EUR/tonne. 75
Dec25 Dec26 Dec27 Dec28
07.11.2025 14.11.25

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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