Euro Markets: EUAs post 3.3% weekly drop despite two days of marginal gains as market locks onto technical level

European carbon allowances posted a 3.35 weekly drop despite ending Friday with a marginal gain, as EUAs gave up gains from a sharp burst of aggressive buying that took prices up by €1 in just 10 minutes, while traders reported a market that appeared largely content to trade around a technical level while waiting for more geopolitical and regulatory news inputs.