December began with a risk-on bang as equities across Asia, Europe and the US rallied, and metals prices continued their trek higher. As good as the headlines moves appeared, the price action on the charts was far from convincing.
The Reserve Bank of Australia kept interest rates on hold, as widely expected, but economic data in the US showed clearly that the recent resurgence in Coronavirus is having a significant negative impact on the economy.
Lithium hopeful Piedmont Lithium has taken an important first step towards its goal of supplying US electric vehicle battery manufacturers, including Tesla Inc no less, with spodumene concentrate from its North Carolina operations.
We’ll investigate all of this and more in today’s Australian Market Preview.
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