Dear Sir or Madam,
For us Europeans, the seemingly endless wrangling over a final and official result of the US presidential election is difficult to understand. And while many would now like to get back to business as usual, it is to be feared that this issue will remain open for some time to come – at least that is what the statements of the current president suggest.
In his first public statements, President-elect Joe Biden (46th President) pointed out that, in addition to the overriding goal of reconciling a divided society, there are other issues that should be the focus of his administration from the first day of his presidency, which begins in January. These include the organised fight against the Corona crisis on the basis of scientific recommendations and the return to the United Nations Paris Climate Change agreement. Donald Trump had just identified these issues as particularly damaging to the US economy.
The European emissions trading scheme has acknowledged the probable end of uncertainty and the expected change in policy on the other side of the Atlantic with obvious goodwill. The price of EEA, which has recently been severely hit, has risen significantly. Even at the start of the new trading week, the principle “buy the rumour, sell the fact” does not seem to work, as the CO2 market is currently continuing its upward trend.
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(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)
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With kind regards,
Advantag Services GmbH