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FX

The Euro fell against the U.S. dollar due to concerns over €/£ The change in €/£/$ €/$
U.S. territorial ambitions in Greenland, raising worries
0.8730 1.1740
about European security and NATO cohesion, which 0.8720
weighed on investor sentiment. The EUR/USD rate 1.1720
0.8710
declined by 0.7% to 1.1642 on Friday.
0.8700 1.1700
Sterling firmed versus the European single currency last 0.8690 1.1680
week, boosted by UK Prime Minister Keir Starmer’s 0.8680
comments suggesting closer ties with the EU single market, 0.8670 1.1660
raising hopes that eased Brexit friction could support 0.8660 1.1640
investment and growth. Meanwhile, the Euro came under 0.8650
pressure due to renewed concerns over U.S. territorial 0.8640 1.1620
ambitions in Greenland. Consequently, the EUR/GBP pair 0.8630 1.1600
dropped by 0.5% to 0.8677. 02.01.26 05.01.26 06.01.26 07.01.26 08.01.26 09.01.26
€/£ €/$

CARBON

European carbon prices soared last week, supported by The change in Carbon Prices
cooler weather, higher residential demand, and strong 100
energy fundamentals.
95
Despite intermittent pressure from milder
temperatures, renewable output, and auction activity, €/tonne 90
EUAs expiring in Dec-26 climbed by 3.5% for the week,
ending at 83.26 EUR/tonne. 85
80
Dec26 Dec27 Dec28 Dec29
02.01.26 09.01.26

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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