The S&P/ASX 200 Index (ASX: XJO) was on form last week thanks to strong gains in the banking sector. The benchmark index rose a sizeable 4.7% to finish it at 5755.7 points.
Will the ASX 200 be able to continue its positive run next week? Here are a few things to watch out for:
ASX futures pointing lower.
The ASX 200 looks set to start the week on an underwhelming note. According to the latest SPI futures, the benchmark index is expected to open the week 24 points lower. This is despite a reasonably positive end to the week on Wall Street. The Dow Jones traded roughly flat, the S&P 500 rose 0.5%, and the Nasdaq index climbed 1.3%. This followed a press conference by President Trump. Although Trump warned that he would take action on Hong Kong, he hasn't withdrawn the United States from its trade agreement with China.
Reserve Bank meeting.
On Tuesday all eyes will be on the Reserve Bank when it holds its latest monetary policy meeting. According to the latest cash rate futures, the market is currently pricing in a 47% probability of a rate cut to zero. On Friday the economics team at Westpac Banking Corp (ASX: WBC) revealed that they are not ruling out negative interest rates in Australia.
Iron ore miners could charge higher.
It could be a good week for ASX 200 iron ore miners such as BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO). According to Fastmarkets, courtesy of the AFR, on Friday the spot iron ore price jumped 5.5% to US$102.39 a tonne. The price of the steel-making ingredient surged higher following concerns that Brazilian supply could be impacted by the coronavirus pandemic.
oOh!Media annual general meeting.
The oOh!Media Ltd (ASX: OML) share price could be on the move on Thursday when it holds its virtual annual general meeting. It has been a tough few months for the media and outdoor advertising company. The advertising market has been hit hard by the pandemic, which has put significant pressure on its share price. The oOh!Media share price is down a massive 72% from its 52-week high. Investors will no doubt be looking for commentary around current trading conditions.
