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FX

The euro rose against the dollar last week after the €/£ The change in €/£/$ €/$
European Central Bank (ECB) kept interest rates unchanged,
while a source revealed that policymakers are ready to 0.8655 1.1580
consider rate hikes as early as April. In the United States, 1.1560
the Federal Reserve (Fed) also held rates steady, while its 0.8650 1.1540
Chair Jerome Powell adopted a neutral to slightly hawkish
tone during his press conference. The EUR/USD pair gained 0.8645 1.1520
0.7% to close at 1.1555 on Friday. 1.1500
0.8640 1.1480
The EUR/GBP rate ended rather flat at 0.8644. A lack of
new economic data kept Sterling subdued throughout 1.1460
0.8635
much of the week, as investors stayed cautious and avoided 1.1440
taking positions ahead of the Bank of England’s policy
0.8630 1.1420
decision. The euro remained stable despite a sharp drop in
13.03.26 16.03.26 17.03.26 18.03.26 19.03.26 20.03.26
Germany’s ZEW economic sentiment index, but it lagged
behind Sterling after the Bank of England delivered a more €/£ €/$
hawkish signal.

CARBON

European carbon prices fell last week as EU leaders The change in Carbon Prices
convened for a key summit to discuss measures aimed 80
at reducing electricity prices and enhancing the
European Union’s competitiveness, including potential 75
revisions to the EU ETS. Elevated volatility is likely to
persist amid ongoing policy uncertainty. €/tonne 70

Strong fund selling, subdued auction demand, and thin 65
liquidity amplified the decline, with Dec-26 and Dec-27
EUAs both dropping by 2% to 67.66 EUR/tonne and 60
70.10 EUR/tonne, respectively. Dec26 Dec27 Dec28 Dec29
13.03.26 20.03.26

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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