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CARBON (€/T) FRIMON VAR D-1 VAR W-1AVG.MAXMIN 14/11 17/11FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202580.93 79.92-1.01-0.0473.6683.9360.94CO2 EUA DEC 202683.11 82.09-1.020.0375.6686.3562.54CO2 EUA DEC 202785.49 84.47-1.020.177.9589.0764.54CO2 EUA DEC 202888.15 87.12-1.030.1580.5291.9466.86UK ETS DEC 25 EUR 64.44 64.30-0.14-0.1957.1767.0437.35UK ETS DEC 26 EUR 67.37 67.32-0.05-0.0559.8170.0439.48UK ETS DEC 27 EUR 70.44 70.39-0.05062.6073.1442.14European carbon prices retreated on Monday after traders reacted to ananalyst report indicating that the European Commission may ease emissions-intensity benchmarks for industrial sites, allowing more free allowances from2026 to 2030 and potentially lowering EUA prices by up to one-third next year.Consequently, the EUAs expiring in Dec-2025 fell by 1.3% to 79.92 EUR/tonne.CO2 EUAEXCHANGE RATES FRIMONVAR D-1 VAR W-1AVG.MAXMIN 14/1117/11FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1648 1.1593-0.00550.00221.12531.18371.0198RATE EUR/GBP0.8846 0.8795-0.00510.00170.85440.88460.8253RATE GBP/EUR1.1305 1.13700.0065-0.00221.17081.21171.1305The EUR/USD pair edged 0.5% lower at 1.1593 on Monday, as the US Dollarstrengthened on expectations that the Federal Reserve may pause rate hikes.Risk aversion also supported the Dollar ahead of key US data, includingThursday’s Nonfarm Payrolls and Friday’s Real Earnings, while concerns overa potential AI bubble boosted demand, with NVIDIA’s earnings on Wednesdaylikely to influence sentiment.The EUR/GBP rate decreased by 0.6%, settling at 0.8795, as Sterling gainedon profit-taking and a modest boost from hawkish remarks by BoE’s CatherineMann, who noted the UK faces a “more shock-ridden environment” keepingupward pressure on inflation.