Carbon prices were very choppy yesterday, sliding from the heights above 13.20 down to around 12.85, back to 13.10 back down to 12.85 - as you can see on a small time frame chart.
We couldn't really identify where it was heading as clearly no trend was visible, therefore we refrained from entering into any new positions.
This morning the jumps continue. We would rather wait for some clarification.
All markets today are waiting to hear the Federal Reserve Chairman Ben Bernanke speech at the Kansas City Fed conference in Jackson Hole and speculate about certain aid to be provided to the markets in a form of bond-buying program by the Federal Reserve — commonly referred to as quantitative easing.