ASX 200 live: ASX to rise as investors await RBA rate cut; Rio Tinto strikes lithium JV in Chile

The sharemarket is set to open higher as investors widely expect a second 25 basis points rate cut by the Reserve Bank. US markets were mixed after Moody's credit downgrade. Rio Tinto strikes $1.39bn lithium deal in Chile. TechnologyOne hikes annual profit guidance after strong results. Monash IVF warns on profit.

The ASX is expected to open higher as investors anticipate RBA's second rate cut this year. Picture: Gaye Gerard/NCA Newswire

Welcome to the Trading Day blog for Tuesday, May 20. The ASX 200 is expected to open higher as most economists anticipate the RBA's second rate cut this year and comments on the economy.  

The ASX 200 futures points to a 0.3 per cent rise at the start of trading on the ASX.

The RBA is expected to cut interest rates by a further 25 basis points at 230pm AEST.

On Wall Street, the Dow Jones Industrial Average rose 0.3 per cent. The S&P 500 and the technology-focused Nasdaq finished fractionally higher.

Cryptocurrency giant bitcoin is trading around $US105,524.00.

The Australian dollar is near US64.57c.

Originally published as ASX 200 live: ASX to rise as investors await RBA rate cut; Rio Tinto strikes lithium JV in Chile