EUA prices are again consolidating around 5 EUR/unit. Today the quarterly options expire which means that some volatility may be expected. Interestingly, last two quarterly option expiries settled right around 5 EUR/unit as well. Volumes traded on exchange have not increased meaningfully since last week, when there was a 2-day auction break. Auctions are now scheduled every day for the next few weeks, which will be an indicator of how much volume the market can absorb during this period of lower trading activity.

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