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FX

The euro weakened against the dollar last week as rising €/£ The change in €/£/$ €/$
tensions between the United States and Iran boosted 0.8680 1.1700
demand for the dollar’s safe-haven status. Stronger-than-
0.8670 1.1650
expected US employment and construction data also
supported the currency. Thus, the EUR/USD exchange rate 0.8660 1.1600
fell by 0.7% to 1.1476 on Friday. 0.8650
1.1550
0.8640
Sterling rose slightly against the Euro as markets scaled 1.1500
back expectations of Bank of England rate cuts, though 0.8630
1.1450
higher UK energy costs limited gains. Weak German 0.8620
economic data and escalating Middle East tensions weighed 0.8610 1.1400
on the Euro, pushing EUR/GBP pair 0.2% down at 0.8650.
0.8600 1.1350
06.03.26 09.03.26 10.03.26 11.03.26 12.03.26 13.03.26

€/£ €/$

CARBON

European carbon prices fell over the week, shrugging The change in Carbon Prices
off steep price surges seen in gas and electricity 80
markets. The decline was mainly attributed to weak
industrial demand and mild weather. Although prices 75
rose last Friday, profit-taking and speculation about
additional free allocations limited gains. €/tonne 70

Hence, EUAs expiring in Dec-26 dropped by 2% to 69.16 65
EUR/tonne, their lowest level since almost a year.
60
Dec26 Dec27 Dec28 Dec29
06.03.26 13.03.26

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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