5 things to watch on the ASX 200 on Tuesday

Afterpay Touch Group Ltd (ASX:APT), Newcrest Mining Limited (ASX:NCM), and Santos Ltd (ASX: STO) shares will be on watch on the ASX 200 on Tuesday….

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On Monday the S&P/ASX 200 index started the week with a disappointing 1.2% decline to 6,320.5 points.

Will the market be able to bounce back on Tuesday? Here are five things to watch:

ASX futures pointing higher.

The Australian share market looks set to bounce back on Tuesday despite a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 index is poised to open 13 points or 0.2% higher this morning. Over in the United States the Dow Jones was flat, the S&P 500 was down 0.3%, and the Nasdaq tumbled 1.6% lower.

Reserve Bank meeting.

The Reserve Bank of Australia has a big decision to make this afternoon when it meets to discuss the cash rate. According to the ASX 30 Day Interbank Cash Rate Futures, there is currently a 100% probability of a rate cut being priced in by the market. If the central bank doesn't cut rates then it could cause a spot of volatility in the share market and Australian dollar.

Tech shares on watch.

Afterpay Touch Group Ltd (ASX: APT), Altium Limited (ASX: ALU), and the rest of the Australian tech sector could come under pressure today after their U.S. counterparts sank lower. The Nasdaq index dropped 1.6% into correction territory.

Oil prices lower again.

It looks set to be another disappointing day of trade for Australian energy producers such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO). According to Bloomberg, the WTI crude oil price continued its slide and is down 1.3% to US$52.80 a barrel and the Brent crude oil price fell 2% to US$60.73 a barrel.

Gold price storms higher again.

Gold miners including Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) were amongst the best performers on the Australian share market on Monday. On Tuesday they look set to repeat this after the gold price stormed to a three-month high thanks to safe-haven buying. According to CNBC, the spot gold price rose a further 1.4% to US$1,329.90 an ounce.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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