Let's take a look at 3 ASX shares that could benefit from the US' international sourcing of EV metals. The post 3 ASX shares that could benefit from Biden’s Aussie electric vehicle swing appeared first on The Motley Fool Australia.
Why is Australian Strategic Materials (ASX:ASM) share price higher today?
Kerry Sun | April 29, 2021 10:52am |
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Australian Strategic Materials Ltd(ASX: ASM) share price has nudged 1% higher on Thursday after the company released its March quarterly activities report.
Australian Strategic Materials is an integrated materials business and emerging ‘mine to manufacturer’ producer of critical metals. The company owns the Dubbo project in NSW, a proven long-term resource of rare earths.
Currently, the company is developing its metallisation plant in South Korea to produce a range of high-purity metals and alloys.
At the time of writing, the share price has retreated slightly to $4.82, up 0.84%.
Province Resources and Zip were among the most traded ASX shares last week
James Mickleboro | April 27, 2021 3:34pm |
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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares by volume on its platform from last week.
Here’s the data:
Zip’s shares were the most traded shares among CommSec investors last week for the second week in a row. The buy now pay later provider’s shares accounted for 2.2% of trades over the five days. Approximately 58% of these trades came from buyers, who will have been disappointed to see the Zip share price sink 5% during the week. This may have been due to profit taking after a strong gain a week earlier following its third quarter update.
Forex: Has the dollar topped?
It’s certainly something to consider, with the US dollar index (DXY) falling to a two-week low after finding resistance at its 50-week eMA. Falling -0.91% it was its worst week this year and now sits at a two-week low.
The dollar’s decline has prevented AUD/USD from falling in line with its head and shoulders top pattern. Whilst it technically remains in play whilst prices remain below the neckline / 0.7677, we would usually expect any decline following a H&S breakout to occur quite quickly, so the bearish reversal pattern is now in doubt.